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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Turn key restaurants
431 Main St, Chimney Rock, NC 28720
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-2887788
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1975
Total area
2,355 SF
Lot
996.79 ac (43,420,172 SF)
Zoning code
CG
APN
1643771
UPID
US53-2887788
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cliff Dwellers Gift Shop (Bike/Boat/Book/etc) Store
-
Chimney Rock Park Ticket Office Park Event Ticket Seller
-
Old Rock Cafe Restaurant
-
Chimney Rock at Chimney Rock State Park Park State Park
-
Chimney Rock State Park State Park Tourist Attraction
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$790k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$371k
Blend (final)
Blend
$580k
Owner & transaction history
NORTH CAROLINA STATE
NORTH CAROLINA STATE
Zoning & alternative use
CG · Chimney Rock, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$450,000
+103.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chimney Rock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chimney Rock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$450,000
Change: +103% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$246 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$5,378,300
Assessed 2023
Previous assessed
$5,378,300
+0.0% YoY
Assessed land
$4,263,200
Assessed improvement
$1,115,100
Land market value
$4,263,200
Improvement market value
$1,115,100
Total market value
$5,378,300
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1975
Heating
FORCED AIR
Cooling
EVAPORATIVE
Buildings
10
Stories
2
Bathrooms
12
Total area
2,355 SF
Lot
996.79 ac (43,420,172 SF)
Zoning code
CG
APN
1643771
UPID
US53-2887788
Jurisdiction
RUTHERFORD
Zoning & alternative use
CG · Chimney Rock, NC
Zoning CG · permitted uses
CG · Chimney Rock, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chimney Rock. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$450,000
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
10
Bathrooms
12
Lot
996.79 ac
Current owner
From public records · entity-resolved
NORTH CAROLINA STATE
Individual
Free & Clear · 0 yrs held
Mailing address
116 W JONES ST, RALEIGH, NC 27603-1335
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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