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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5515 Hendersonville Rd Fletcher, NC 28732-6616

    • Office buildings
    • 4,314 SF
    • 0.78 lot acres
    OFF-MARKET
    Last Sale
    Oct 27, 2024
    $1,286,000
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2833166
    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

    • Fletcher Animal Hospital / Animal Hospital

    Property Details for 5515 Hendersonville Rd

    Year built
    2004
    Lot size
    0.78 lot acres
    Property size
    4,314 SF
    Zone code
    1015438~C-1
    Property type
    Office buildings
    APN
    9652320051
    APU
    9652320051

    Description

    This exceptional investment opportunity presents a single-tenant, 5,501 square foot Class A office building located at 5515 Hendersonville Road, Fletcher, NC 28732. The property, built in 2004, sits on a 0.78-acre lot and is zoned C1, allowing for versatile commercial use. Currently boasting 100% occupancy with a net lease in place, this building offers immediate income potential with a 6.45% cap rate and a price per square foot of $272.50. The asking price is $1,499,000. The single-story building is perfectly suited for its current tenant, Heartland Veterinary Partners, a rapidly expanding national veterinary organization. This prime location in Fletcher offers excellent visibility, situated directly across from a new Ingles grocery store and a quarter-mile from the new Tap Root subdivision, ensuring high traffic and strong tenant appeal. The property's well-maintained condition and strong tenant history make it an attractive addition to any investment portfolio. The property's APN is 9652320051. This is a rare opportunity to acquire a high-performing, net-leased asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000
      ML approach
      $745,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,340,000
      6.5%
      $1,240,000
      7%
      $1,150,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $997,000
      Market price range: $647k - $1.21M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $825,000
      Current use
      RETAIL STORES
      $725,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fletcher
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.5143
    Latitude
    35.4082
    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
    $271,800
    $650,700
    $922,500
    -
    $271,800
    $650,700
    $922,500

    Comparable in this City

    • Value Estimation by Request
      1,320 SF

      177 Rockwell Dr

      OFFICE BUILDING • 1,320 SF
      177 Rockwell Dr, Fletcher, NC 28732-9400
      View Details
    • Value Estimation by Request
      538 SF

      725 Fanning Brg Rd

      OFFICE BUILDING • 538 SF
      725 Fanning Brg Rd, Fletcher, NC 28732
      View Details
    • Value Estimation
      $540,000
      2,532 SF

      33 Grace Way

      OFFICE BUILDING • 2,532 SF
      33 Grace Way, Fletcher, NC 28732
      View Details
    • Value Estimation
      $950,000
      6,975 SF

      4005 Hendersonville Rd

      OFFICE BUILDING • 6,975 SF
      4005 Hendersonville Rd, Fletcher, NC 28732-8240
      View Details
    • Value Estimation by Request
      2,240 SF

      5250 Hendersonville Rd

      OFFICE BUILDING • 2,240 SF
      5250 Hendersonville Rd, Fletcher, NC 28732-6672
      View Details
    • Value Estimation
      $755,000
      3,830 SF

      37 Old Brickyard Rd

      OFFICE BUILDING • 3,830 SF
      37 Old Brickyard Rd, Fletcher, NC 28732-9602
      View Details

    Similar Nearby for Sale

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      Fletcher Industrial Facility For Sale

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      Fletcher Office Building - Great Potential

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    • $299,000
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      Fletcher, NC Homesite with Views

      3.8-acre homesite with mountain views, near Asheville and Hendersonville.
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      Land with Mountain Views

      Homesite with mountain views in Couch Mountain community.
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Quality Point Industrial Space

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      Fletcher Warehouse Space Available

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    • $7,129 /Mo
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      Fletcher Retail or Office Space

      Retail or office space in the heart of Fletcher.
      3811 Hendersonville Rd, Fletcher, NC 28732
      View Details
    • $7,129 /Mo

      Fletcher Retail/Office Space Available

      Retail or office space in Fletcher, full service gross lease.
      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
      4,000 SF

      Fletcher Industrial Warehouse For Lease

      1-Story Warehouse, 4,000 SF, 16 Acres
      0 Guaranteed Way, Fletcher, NC 28732
      View Details
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    Fletcher, NC 28732-6616
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    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
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