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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Sports & entertainment properties
701 Old Fanning Brg Rd, Fletcher, NC 28732-0557
Individually Owned
4-yr Hold
Free & Clear
Property ID
US53-0909516
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2020
Total area
25,150 SF
Lot
16.67 ac (726,145 SF)
Zoning code
701386~MR-LI
APN
9642397277
UPID
US53-0909516
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
-
The Riveter Family Recreation Center
-
Riveter Taproom Bar & Pub
-
Riveter Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.00M
Owner & transaction history
Kip Cox · 4 yrs held
Kip Cox
since 2022
5 recorded transactions
Zoning & alternative use
701386~MR-LI · Fletcher, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+2.2%
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 Fletcher submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fletcher 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$2,760,000
Current use
OFFICE BUILDING
$2,820,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,665,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,550,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$2,370,000
Change: -14% · Conversion: Difficult
RESTAURANT
$2,335,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10%
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
$80 / 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
$6,468,800
Assessed 2024
Previous assessed
$6,468,800
+0.0% YoY
Assessed land
$1,815,300
Assessed improvement
$4,653,500
Land market value
$1,815,300
Improvement market value
$4,653,500
Total market value
$6,468,800
Applied tax rate
5.0000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2020
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
25,150 SF
Lot
16.67 ac (726,145 SF)
Zoning code
701386~MR-LI
APN
9642397277
UPID
US53-0909516
Jurisdiction
HENDERSON
Zoning & alternative use
701386~MR-LI · Fletcher, NC
Zoning 701386~MR-LI · permitted uses
701386~MR-LI · Fletcher, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fletcher. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$2.3M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
RESTAURANT
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
2020
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
16.67 ac
Current owner
From public records · entity-resolved
Kip Cox
Individual
Free & Clear · 4 yrs held
Mailing address
701 OLD FANNING BRG RD, FLETCHER, NC 28732-0557
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2025
—
Fiddlehead Farm Holdings LLC
—
Deed
related
$1,500,000 · Hometrust Bank
Jan 21, 2025
—
Fiddlehead Farm Holdings LLC
—
Deed
related
$1,250,000 · Hometrust Bank
Feb 2, 2022
—
Kip Cox
John H Leatherwood JR
Warranty Deed
—
May 21, 2012
$300,000
Brightstar Associates INC
Fitzpatrick,vaughan & Mary S
Warranty Deed
—
Dec 21, 2011
$300,000
Fitzpatrick,vaughan & James G
Lance,ida B
Warranty Deed
—
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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