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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Individual retail properties
924 Greenville Hwy Hendersonville, NC 28792-5727
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-1698620
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Year built
1960
Total area
4,391 SF
Lot
0.61 ac (26,572 SF)
Zoning code
111446~GHMU
APN
9568922593
UPID
US53-1698620
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
-
Rainbow Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
Shashi Management LLC · 6 yrs held
Shashi Management LLC
since 2020
Last sale
$780,000
2 recorded transactions
Zoning & alternative use
111446~GHMU · Hendersonville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$745,000
+129.8%
Office building
$615,000
+89.5%
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 Hendersonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hendersonville 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
$1,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$745,000
Change: +130% · Conversion: Difficult
OFFICE BUILDING
$615,000
Change: +90% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $780k (Mar 12 2020)
Last sale anchor
$780k
Mar 12 2020
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
$192 / 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
$430,000
Assessed 2024
Previous assessed
$430,000
+0.0% YoY
Assessed land
$201,900
Assessed improvement
$228,100
Land market value
$201,900
Improvement market value
$228,100
Total market value
$430,000
Applied tax rate
10.0000
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
Individual retail properties
Use group
DRY CLEANER
Status
Off-Market
Year built
1960
Heating
YES
Cooling
WINDOW A/C
Buildings
3
Stories
1
Total area
4,391 SF
Lot
0.61 ac (26,572 SF)
Zoning code
111446~GHMU
APN
9568922593
UPID
US53-1698620
Jurisdiction
HENDERSON
Zoning & alternative use
111446~GHMU · Hendersonville, NCZoning 111446~GHMU · permitted uses
111446~GHMU · Hendersonville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$745,000
OFFICE BUILDING
Est. value
$615,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1960
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
0.61 ac
Current owner
From public records · entity-resolved
Shashi Management LLC
Entity
Mailing address
924 GREENVILLE HWY, HENDERSONVILLE, NC 28792-5727
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2020
$780,000
Shashi Management LLC
Sriya INC
Warranty Deed
$530,000 · Sriya INC
Sep 18, 2012
—
Sriya INC
Monark S Patel
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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