Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    513 Mls Gap Rd Fletcher, NC 28732-8703

    • Office buildings
    • 5,700 SF
    • 3.78 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3301795
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 513 Mls Gap Rd

    Year built
    2019
    Lot size
    3.78 lot acres
    Property size
    5,700 SF
    Zone code
    9949070~M-1
    Property type
    Office buildings
    APN
    9663436368
    APU
    9663436368

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $322,000
      Market price range: $323k - $998k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fletcher
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.4766
    Latitude
    35.4407
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $175,800
    $259,300
    $435,100
    -
    $175,800
    $259,300
    $435,100

    Comparable in this City

    • Value Estimation
      $970,000
      46,575 SF

      200 Mls Gap Rd

      OFFICE BUILDING • 46,575 SF
      200 Mls Gap Rd, Fletcher, NC 28732-8583
      View Details
    • Value Estimation
      $340,000
      10,649 SF

      50 Hospital Dr3a

      OFFICE BUILDING • 10,649 SF
      50 Hospital Dr3a, Fletcher, NC 28732
      View Details
    • Value Estimation
      $655,000
      25,176 SF

      300 Old Cane Crk Rd

      OFFICE BUILDING • 25,176 SF
      300 Old Cane Crk Rd, Fletcher, NC 28732-0045
      View Details
    • Value Estimation by Request
      5,425 SF

      827 Concord Rd

      OFFICE BUILDING • 5,425 SF
      827 Concord Rd, Fletcher, NC 28732-9738
      View Details
    • Value Estimation
      $280,000
      3,600 SF

      85 Fletcher Commercial Dr

      OFFICE BUILDING • 3,600 SF
      85 Fletcher Commercial Dr, Fletcher, NC 28732-8628
      View Details
    • Value Estimation
      $825,000
      3,245 SF

      3336 Hendersonville Rd

      OFFICE BUILDING • 3,245 SF
      3336 Hendersonville Rd, Fletcher, NC 28732-8252
      View Details

    Similar Nearby for Sale

    • $6,500,000
      31,620 SF

      Move-In Ready Corporate Center

      31,620 SF facility suitable for various business types.
      220 Continuum Dr, Fletcher, NC 28732
      View Details
    • $13,000,000
      13.97 Acres

      Fletcher Industrial Facility For Sale

      87,000 SF industrial facility with warehouse and office space.
      280 Cane Creek Rd, Fletcher, NC 28732
      View Details
    • $499,000
      0.66 Acres

      Fletcher Office Building - Great Potential

      Spacious Office, Ample Storage, Prime Location
      360 Cane Creek Rd, Fletcher, NC 28732
      View Details
    • $999,000
      1.73 Acres

      Fletcher Commercial Land - 1.73 Acres

      Prime Fletcher acreage, near Airport Rd, C2 zoning.
      125 Underwood Rd, Fletcher, NC 28732
      View Details
    • $575,000
      15.63 Acres

      Fletcher, NC Acreage with Views

      Estate-worthy land with mountain views, well, and paved access.
      Vineyard Hill Dr, Fletcher, NC 28732
      View Details
    • $195,900
      2.39 Acres

      Fletcher, NC Land Opportunity

      Level 2.39-acre lot in Ravenwood Estates, near Asheville.
      Ravenwood Dr, Fletcher, NC 28732
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      360,000 SF

      Quality Point Industrial Space

      Fletcher, NC: Flexible industrial space.
      1 Quality Way, Fletcher, NC 28732
      View Details
    • $7,129 /Mo
      3,422 SF

      Fletcher Retail or Office Space

      Retail or office space in the heart of Fletcher.
      3811 Hendersonville Rd, Fletcher, NC 28732
      View Details
    • Contact for pricing
      696,960 SF

      Fletcher Industrial Laydown Yard

      Prime NC Land: 3-16 Acres, Fully Fenced
      0 Brickton Dr, Fletcher, NC 28732
      View Details
    • Contact for pricing
      12,000 SF

      Fletcher Warehouse with Fenced Yard

      12,000 SF warehouse with fenced yard for lease.
      142 Brickton Dr, Fletcher, NC 28732
      View Details
    • Contact for pricing
      4,000 SF

      Fletcher Industrial Warehouse For Lease

      1-Story Warehouse, 4,000 SF, 16 Acres
      0 Guaranteed Way, Fletcher, NC 28732
      View Details
    • Contact for pricing
      10,000 SF

      Fletcher Industrial Opportunity For Lease

      10,000 SF industrial space with outside storage near I-26.
      127 Old Hendersonville Rd, Fletcher, NC 28732
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    513 Mls Gap Rd
    Fletcher, NC 28732-8703
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.