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    66 Bradley St Waynesville, NC 28786
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    Property profile & analytics

    66 Bradley St, Waynesville, NC 28786

    View on Map
    • Commercial real estate
    • 4,122 SF
    • 0.40 lot acres
    Off-Market
    Property ID
    US53-5756805
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • WNC Urban Farms / Food Processing Plant
    • Hughes Electrical Contracting / Electrical Service / General Contractor

    Property Details for 66 Bradley St

    Year built
    1921
    Lot size
    0.40 lot acres
    Property type
    Commercial real estate
    APN
    8616-25-3224

    Description

    This unique Waynesville, NC property offers a compelling investment opportunity. Located just off Hwy 276, this 0.4-acre lot encompasses a thriving mixed-use business. The main structure includes a climate-controlled, 1,477 sq ft greenhouse with heated concrete floors, ideal for cultivating and shipping produce. A 1,200 sq ft insulated metal workshop/warehouse/garage provides ample storage and workspace. Additionally, a recently renovated 1,417 sq ft residence boasts high-end finishes and a gourmet chef's kitchen. The property features city water, sewer, natural gas, solar electric power, and a backup generator, ensuring reliable operation. The existing business, focused on farm-fresh produce and seedlings with a national customer base, presents a turnkey operation with significant growth potential. The property's 4,122 total square feet, combined with its prime location and versatile infrastructure, makes it an exceptional investment in a vibrant community. The property is zoned for mixed use, offering flexibility for future development or expansion. Built in 1921, the property has been meticulously maintained and updated, showcasing a blend of historical charm and modern amenities. The APN is 8616-25-3224. This is a rare opportunity to acquire a profitable, established business with significant real estate value.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waynesville
    County
    Haywood
    State
    North Carolina
    Longitude
    -82.9921853
    Latitude
    35.5121585

    Comparable in this City

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      Cottage Farmhouse with Mountain Views

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      Waynesville Mixed-Use Investment Opportunity

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      1,000 SF

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    Similar Nearby for Sale

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      Cottage Farmhouse with Mountain Views

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      View Details
    • Contact for pricing

      Waynesville Development Opportunity

      Land suitable for mixed-use development in Waynesville, North Carolina.
      40 Ratcliff Cove Rd, Waynesville, NC 28786
      View Details
    • $2,200,000
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      Waynesville Mixed-Use Investment Opportunity

      Retail and residential income property in high-growth Waynesville area.
      62 Overbrook Dr, Waynesville, NC 28786
      View Details
    • Contact for pricing
      1,000 SF

      Waynesville Mixed-Use Investment Opportunity

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      62 Overbrook Dr, Waynesville, NC 28786
      View Details
    • $1,750,000
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      Historic Waynesville Commercial Property

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      123 S Main St, Waynesville, NC 28786
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    Similar Nearby for Lease

    • $2,495 /Mo

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    Waynesville, NC 28786
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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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