Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    980 Upward Rd Flat Rock, NC 28731-6767

    • Industrial properties
    • 28,840 SF
    • 6.26 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2022
    $1,850,000
    Value Estimations
    $1,630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0996667
    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.

    Current Use by Public Records

    • Asheville Provison Boarhead Mt / Butcher / Big Box & Wholesale Store
    • Asheville Packing Co / Take-out & Catering
    • Pinecrest Foods / Big Box & Wholesale Store
    • Spearman Frozen & Dry Storage / Storage Facility / Warehouse & Storage

    Property Details for 980 Upward Rd

    Year built
    2004
    Lot size
    6.26 lot acres
    Property size
    28,840 SF
    Zone code
    9973830~CC
    Property type
    Industrial properties
    APN
    9587896775
    APU
    9587896775

    Description

    This exceptional multi-tenant industrial facility in Henderson County offers 29,865 square feet of space, with 11,096 square feet currently vacant. The property features five suites, with a minimum divisible space of 500 square feet and a maximum contiguous space of 5,000 square feet currently available. The warehouse boasts high ceilings ranging from 20 to 24 feet, and includes six drive-in doors for convenient access. The existing tenants include well-known food distributors. An adjoining office space is available, offering approximately 5,000 square feet of unconditioned warehouse area, accessible via common corridors. This area is not currently demised. A significant advantage is the availability of dedicated cold storage space and a USDA-certified food preparation area, leasable long-term or on a contract basis. Facility management provides scalable cold storage (refrigerated and freezer) options by the pallet on a monthly basis. The warehouse features existing racking. The on-site office space includes a reception area, break/conference room, private offices, and multi-occupant restrooms. The property enjoys convenient access to I-26, making it an ideal location for businesses needing efficient transportation links. Additional dry storage and unconditioned office space are also available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,450,000
      ML approach
      $1,735,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,262,000
      Market price range: $790k - $2.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.3899
    Latitude
    35.2955
    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
    $931,700
    $1,106,300
    $2,038,000
    -
    $931,700
    $1,106,300
    $2,038,000

    Comparable in this City

    • Value Estimation by Request
      11.77 Acres

      117 Mcabee Ct

      INDUSTRIAL (GENERAL) • 11.77 Acres
      117 Mcabee Ct, Flat Rock, NC 28731
      View Details
    • Value Estimation by Request
      0.37 Acres

      Flat

      INDUSTRIAL (GENERAL) • 0.37 Acres
      Flat, Rock, NC 28731
      View Details
    • Value Estimation by Request
      13.43 Acres

      1 Garrison Ln

      INDUSTRIAL (GENERAL) • 13.43 Acres
      1 Garrison Ln, Flat Rock, NC 28731-7760
      View Details
    • Value Estimation
      $915,000
      11,500 SF

      90 Reeds Way

      INDUSTRIAL (GENERAL) • 11,500 SF
      90 Reeds Way, Flat Rock, NC 28731-0770
      View Details
    • Value Estimation
      $1,680,000
      5,880 SF

      129 Reeds Way

      INDUSTRIAL (GENERAL) • 5,880 SF
      129 Reeds Way, Flat Rock, NC 28731
      View Details
    • Value Estimation
      $730,000
      9,000 SF

      49 Reeds Way

      INDUSTRIAL (GENERAL) • 9,000 SF
      49 Reeds Way, Flat Rock, NC 28731-0770
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Flat Wooded Lot in Flat Rock

      Flat wooded lot in Flat Rock with utilities available.
      000 Red Fox Ln, Flat Rock, NC 28731
      View Details
    • $289,000
      4.31 Acres

      Flat Rock Land Opportunity

      Versatile 4+ acre parcel with development potential in Flat Rock.
      160 Lost Creek Dr, Flat Rock, NC 28731
      View Details
    • $115,000
      1.14 Acres

      Flat Rock Land with Views

      Residential land in Kenmure County Club with views.
      103 Berry Creek Dr, Flat Rock, NC 28731
      View Details
    • Contact for pricing

      Kenmure Homesite with Level Terrain

      1.4 acre homesite in Kenmure subdivision with completed site work.
      150 Founders Dr, Flat Rock, NC 28731
      View Details
    • $3,483,000

      Highland Lake Development Opportunity

      Lakeside property ideal for a boutique resort or wellness retreat.
      447 Lily Pad Ln, Flat Rock, NC 28731
      View Details
    • $525,000
      0.86 Acres

      Flat Rock Duplex Investment Opportunity

      Up-to-date duplex with strong rental history and long-term tenants.
      544 Tracy Grove Rd, Flat Rock, NC 28731
      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.
    980 Upward Rd
    Flat Rock, NC 28731-6767
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!