Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    797 Locust St Hendersonville, NC 28792-3741
    Back to Search
    Property profile & analytics

    797 Locust St, Hendersonville, NC 28792-3741

    View on Map
    • Industrial properties
    • 3,840 SF
    • 0.52 lot acres
    Off-Market
    Last Sale Apr 27, 2023
    Property ID
    US53-0374274
    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

    • Belmont Equipment & Tech / (Bike/Boat/Book/etc) Store / Building Supply

    Property Details for 797 Locust St

    Year built
    1995
    Lot size
    0.52 lot acres
    Zone code
    10010474~CMU
    Property type
    Industrial properties
    APN
    9568894897
    APU
    9568894897

    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
    Hendersonville
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.4588
    Latitude
    35.3214
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN 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
    0
    $0.00
    $226,500
    $127,400
    $353,900
    -
    $226,500
    $127,400
    $353,900

    Comparable in this City

    • Value Estimation by Request
      400 SF

      Hendersonville, NC 28792

      HEAVY INDUSTRIAL
      Hendersonville, NC 28792
      View Details
    • Value Estimation
      $570,000
      22,700 SF

      507 Duncan Hl Rd

      LUMBERYARD, BUILDING MATERIALS
      507 Duncan Hl Rd, Hendersonville, NC 28792-2720
      View Details
    • Value Estimation
      $10,730,000
      225,280 SF

      125 Industrial Park Rd

      INDUSTRIAL (GENERAL)
      125 Industrial Park Rd, Hendersonville, NC 28792-9012
      View Details
    • Value Estimation by Request
      12,726 SF

      822 Locust St

      INDUSTRIAL (GENERAL)
      822 Locust St, Hendersonville, NC 28792-3749
      View Details
    • Value Estimation
      $6,135,000
      114,100 SF

      581 Old Sunset Hl Rd

      INDUSTRIAL (GENERAL)
      581 Old Sunset Hl Rd, Hendersonville, NC 28792-8362
      View Details
    • Value Estimation
      $2,795,000
      49,120 SF

      305 Thompson St

      INDUSTRIAL (GENERAL)
      305 Thompson St, Hendersonville, NC 28792-2810
      View Details

    Similar Nearby for Sale

    • $3,973,871
      72,785 SF

      Hendersonville Industrial Fortress

      72,785 SF Industrial Building, 4.13 Acres
      701 Oriole Dr, Hendersonville, NC 28792
      View Details
    • $2,500,000

      Downtown Entertainment Venue For Sale

      Spacious downtown arena suitable for entertainment or brewery.
      125 S Main St, Hendersonville, NC 28792
      View Details
    • Contact for pricing
      Pending

      Versatile Warehouse with Owner Financing

      Over 15,000 sq ft warehouse suitable for distribution/manufacturing.
      614 S Grv St St, Hendersonville, NC 28792
      View Details
    • $3,950,000

      Adaptive Space Near Downtown Hendersonville

      72,000+ SF facility ideal for industrial or adaptive reuse.
      701 Oriole Dr, Hendersonville, NC 28792
      View Details
    • Contact for pricing
      2,400 SF

      Hendersonville Flex Building on Acreage

      2,400 SF flex building on 2.52 acres for sale.
      802 S Grove St, Hendersonville, NC 28792
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Hendersonville Corridor

      Retail space for lease in Blue Ridge Mall.
      1800 Four Seasons Blvd, Hendersonville, NC 28792
      View Details
    • $16,000 /Mo

      Beverly Hanks Center Office Space

      Office space available at Beverly Hanks Center, Hendersonville, NC.
      800 Beverly Hanks Ctr, Hendersonville, NC 28792
      View Details
    • $3,152 /Mo

      Hendersonville Retail Building For Rent

      2,224 SF retail building in high-traffic Hendersonville location.
      1596 Greenville Hwy, Hendersonville, NC 28792
      View Details
    • $1,600 /Mo

      Hendersonville Office Space For Lease

      Desirable office space in Hendersonville, NC, available for lease.
      14 Towne Place Dr, Hendersonville, NC 28792
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    797 Locust St
    Hendersonville, NC 28792-3741
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    797 Locust St, Hendersonville, NC, 28792
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!