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    Property profile & analytics

    628 E Main St Sylva, NC 28779

    • Commercial real estate
    • 1.63 lot acres
    For Sale
    View listing
    $989,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4829725
    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

    • Cotton Leigh Bakery / Wedding Service / Bakery

    Property Details for 628 E Main St

    Lot size
    1.63 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.63-acre commercial lot presents a rare opportunity in Sylva, NC. Located on highly visible East Main Street (Highway 107), this property offers significant development potential. Previously housing ten dwellings, the site is now cleared and level, providing a blank slate for new construction. All utilities are readily available, including Tuckasegee Water and Sewer, electricity, fiber optics, and phone lines. A recent survey has been completed following a minor land acquisition by the Department of Transportation. Importantly, this property is not located within a flood zone, minimizing development risk. The site's prominent location makes it ideal for a diverse range of commercial ventures, including restaurants, retail establishments, or office complexes. Prospective developers are encouraged to engage with the Jackson County Planning Department and the Town of Sylva to explore development possibilities and obtain necessary approvals. This is one of the few remaining large commercial parcels on this highly desirable stretch of Highway 107, representing a unique investment opportunity in a thriving community. The asking price is $2,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sylva
    County
    Jackson
    State
    North Carolina
    Longitude
    -83.20419
    Latitude
    35.36953

    Comparable in this City

    • $136,500
      0.73 Acres

      NC. Flat

      nearly cleared parcel with Professional Business zoning class. Medical offices
      120 Allens Branch Rd, Sylva, NC 28779
      View Details
    • $949,000
      9.50 Acres

      Sylva Commercial Land - 9.5 Acres

      Prime Commercial Development Opportunity in Sylva, NC
      174 Walter Ashe Rd, Sylva, NC 28779
      View Details
    • $647,190
      9.78 Acres

      Sylva Commercial Land Investment Opportunity

      High-traffic location, 9.78 acres
      1037 Us Hwy 441 Hwy, Sylva, NC 28779
      View Details
    • $2,500,000
      1.46 Acres

      Sylva Commercial Plaza - High Visibility

      Prime Sylva location, high traffic, multiple buildings.
      30 Main St, Sylva, NC 28779
      View Details
    • $59,000
      1.06 Acres

      Sylva, NC Mountain View Land

      Build a rental cabin with long-range mountain views.
      521 Signal Rdg, Sylva, NC 28779
      View Details
    • $225,000
      13.31 Acres

      Unrestricted Land Near Highway 74

      13.31+/- acres suitable for commercial or residential use.
      Us 74 Hwy, Sylva, NC 28779
      View Details

    Similar Nearby for Sale

    • $136,500
      0.73 Acres

      NC. Flat

      nearly cleared parcel with Professional Business zoning class. Medical offices
      120 Allens Branch Rd, Sylva, NC 28779
      View Details
    • $949,000
      9.50 Acres

      Sylva Commercial Land - 9.5 Acres

      Prime Commercial Development Opportunity in Sylva, NC
      174 Walter Ashe Rd, Sylva, NC 28779
      View Details
    • $647,190
      9.78 Acres

      Sylva Commercial Land Investment Opportunity

      High-traffic location, 9.78 acres
      1037 Us Hwy 441 Hwy, Sylva, NC 28779
      View Details
    • $2,500,000
      1.46 Acres

      Sylva Commercial Plaza - High Visibility

      Prime Sylva location, high traffic, multiple buildings.
      30 Main St, Sylva, NC 28779
      View Details
    • $59,000
      1.06 Acres

      Sylva, NC Mountain View Land

      Build a rental cabin with long-range mountain views.
      521 Signal Rdg, Sylva, NC 28779
      View Details
    • $225,000
      13.31 Acres

      Unrestricted Land Near Highway 74

      13.31+/- acres suitable for commercial or residential use.
      Us 74 Hwy, Sylva, NC 28779
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr

      Former Medical Clinic for Lease

      Turnkey medical clinic with 12 offices/exam rooms for lease.
      609 Asheville Hwy, Sylva, NC 28779
      View Details
    • Contact for pricing

      Former Medical Clinic For Lease

      Medical clinic with offices, lab, and ample parking.
      609 Asheville Hwy, Sylva, NC 28779
      View Details
    • Contact for pricing

      Industrial Flex Space Available

      Industrial flex space for rent, ranging from 500 to 2,000 SqFt.
      653 Scotts Creek Rd, Sylva, NC 28779
      View Details
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    628 E Main St
    Sylva, NC 28779
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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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