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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Specialty properties
615 Fallview Ln, Boone, NC 28607-0557
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-3990065
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2013
Total area
3,574 SF
Lot
0.48 ac (20,735 SF)
Zoning code
BOMJ
APN
2900-23-3823-000
UPID
US53-3990065
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
-
Cottages of Boone Furnished Apartment Building Student Dormitory
-
Cardinal Group Management Privacy Policy (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$910k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$910k
Owner & transaction history
Boone Owner LLC · 2 yrs held
Boone Owner LLC
since 2024
Last sale
$910,110
1 recorded transaction
Zoning & alternative use
BOMJ · Boone, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+20.9%
Medical building
$915,000
+7.3%
Warehouse, storage
$885,000
+3.7%
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 Boone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boone 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
$910,000
ML approach
$910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$850,000
Current use
OFFICE BUILDING
$1,030,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$915,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$885,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$845,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$775,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $910k (Jun 11 2024)
Last sale anchor
$910k
Jun 11 2024
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
$255 / 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
Property tax & assessments
Assessed value
$569,020
Assessed 2023
Previous assessed
$569,020
+0.0% YoY
Assessed land
$25,000
Assessed improvement
$544,020
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2013
Heating
NONE
Cooling
CENTRAL
Units
1
Total area
3,574 SF
Lot
0.48 ac (20,735 SF)
Zoning code
BOMJ
APN
2900-23-3823-000
UPID
US53-3990065
Jurisdiction
WATAUGA
Zoning & alternative use
BOMJ · Boone, NC
Zoning BOMJ · permitted uses
BOMJ · Boone, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boone. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$850,000
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$915,000
WAREHOUSE, STORAGE
Est. value
$885,000
COMMERCIAL (GENERAL)
Est. value
$845,000
RETAIL STORES
Est. value
$775,000
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
2013
Heating
NONE
Cooling
Yes
Units
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Boone Owner LLC
Entity
Mailing address
2 SCHOOL ST, RYE, NY 10580-2925
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2024
$910,110
Boone Owner LLC
Wallace Loft LLC
Special Warranty Deed
$79,403,633 · Wsfb Lender II LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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