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    747 Buffalo Creek Rd Lake Lure, NC 28746
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    Property profile & analytics

    747 Buffalo Creek Rd, Lake Lure, NC 28746

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    • Investment properties
    • 3,422 SF
    • 2.01 lot acres
    For Sale
    $680,000
    View Listing →
    Condominium Units in Lake Lure Resort For Sale
    $680,000
    59,909 SF

    Condominium Units in Lake Lure Resort

    68 condominium-style units within established resort, offered for sale.

    747 Buffalo Creek Rd, Lake Lure, NC 28746
    View Listing
    Property ID
    US53-2851812
    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
    8.6%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Club Wyndham Resort at Fairfield Mountains / Hotel & Motel / Resort
    • Fairfield Mountain Resort / Hotel & Motel / Resort

    Property Details for 747 Buffalo Creek Rd

    Year built
    1951
    Lot size
    2.01 lot acres
    Zone code
    CN
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1655324
    APU
    1655324

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 15, 2024 — Michelle Houk Carol L Ensinger Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $939,000
      Market price range: $255k - $992k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Lure
    County
    Rutherford
    State
    North Carolina
    Longitude
    -82.1718
    Latitude
    35.4519
    CBSA code
    22580
    CBSA name
    FOREST CITY, NC MICROPOLITAN 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
    2021
    $4,971
    $92,800
    $520,200
    $613,000
    -
    $92,800
    $520,200
    $613,000

    Comparable in this City

    • Value Estimation by Request
      1,118 SF

      118 Bills Crk Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      118 Bills Crk Rd, Lake Lure, NC 28746-9316
      View Details
    • Value Estimation by Request
      1,237 SF

      959 Buffalo Crk Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      959 Buffalo Crk Rd, Lake Lure, NC 28746-9809
      View Details
    • Value Estimation by Request
      1,584 SF

      718 Buffalo Crk Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      718 Buffalo Crk Rd, Lake Lure, NC 28746-9808
      View Details
    • Value Estimation by Request
      749 SF

      241 3rd Creeks Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      241 3rd Creeks Rd, Lake Lure, NC 28746-9811
      View Details
    • Value Estimation by Request
      0.34 Acres

      Shady Grv Ln

      VACANT COMMERCIAL LAND
      Shady Grv Ln, Lake Lure, NC 28746
      View Details
    • Value Estimation by Request
      1.78 Acres

      Lk N Dr

      VACANT COMMERCIAL LAND
      Lk N Dr, Lake Lure, NC 28746
      View Details

    Similar Nearby for Sale

    • $225,000

      Blue Ridge Mountain Retreat Land

      24.22 acres of unrestricted wooded land in Lake Lure.
      366 Boland Dr, Lake Lure, NC 28746
      View Details
    • $120,000
      Pending

      Luxury RV Lot with Amenities

      Class A RV lot with pond view and resort amenities.
      116 Cornell Cir, Lake Lure, NC 28746
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    • $225,000
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      Lake Lure Mountain View Land

      4.5+ acre lot with mountain views near Lake Lure.
      Bills Mountain Trl, Lake Lure, NC 28746
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    • Contact for pricing
      1.32 Acres

      Wooded Homesite in Gated Community

      Private, wooded 1.32-acre lot in Grey Rock at Lake Lure.
      Rolling Rdg Trl, Lake Lure, NC 28746
      View Details
    • $50,000
      0.51 Acres

      Lake Lure Buildable Lot

      Buildable lot with lake access in Sunset Reserve community.
      Lure Ridge Dr, Lake Lure, NC 28746
      View Details
    • $149,900
      0.94 Acres

      Lake Lure Buildable Golf Course Lot

      Rare, buildable lot on Bald Mountain Golf Course.
      36 Bee Tree Pt Ct, Lake Lure, NC 28746
      View Details
    View Listing
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    Lake Lure, NC 28746
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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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