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    Property profile & analytics

    Brevard, NC 28712

    • Garden apartment buildings
    • 6,011 SF
    • 1.45 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    9.6%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US53-4067058
    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

    • Garden apartment buildings

    Property Details

    Year built
    1974
    Lot size
    1.45 lot acres
    Property size
    6,011 SF
    Property type
    Garden apartment buildings
    APN
    8585-20-2853-000
    APU
    8585202853000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $525,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $840,000
      6.5%
      $775,000
      7%
      $720,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $965,000
      WAREHOUSE, STORAGE
      $820,000
      MEDICAL BUILDING
      $495,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brevard
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.7428
    Latitude
    35.2056
    CBSA code
    14820
    CBSA name
    BREVARD, 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
    2024
    $2,998
    $105,000
    $350,470
    $455,470
    -
    $105,000
    $350,470
    $455,470

    Comparable in this City

    • Value Estimation by Request
      2,664 SF

      36 Curlee St

      GARDEN APT, COURT APT (5+ UNITS) • 2,664 SF
      36 Curlee St, Brevard, NC 28712-3298
      View Details
    • Value Estimation by Request
      2,664 SF

      37 Curlee St

      GARDEN APT, COURT APT (5+ UNITS) • 2,664 SF
      37 Curlee St, Brevard, NC 28712-3286
      View Details
    • Value Estimation by Request
      12.07 Acres

      83 Wild Fern Dr

      MOBILE HOME PARK, TRAILER PARK • 12.07 Acres
      83 Wild Fern Dr, Brevard, NC 28712-4739
      View Details
    • Value Estimation by Request
      0.45 Acres

      Brevard, NC 28712

      MOBILE HOME PARK, TRAILER PARK • 0.45 Acres
      Brevard, NC 28712
      View Details
    • Value Estimation by Request
      744 SF

      248 Pisgah Dr

      MOBILE HOME PARK, TRAILER PARK • 744 SF
      248 Pisgah Dr, Brevard, NC 28712-8578
      View Details
    • Value Estimation by Request
      0.38 Acres

      376 Turkey Pen Gap Rd

      MOBILE HOME PARK, TRAILER PARK • 0.38 Acres
      376 Turkey Pen Gap Rd, Brevard, NC 28712
      View Details

    Similar Nearby for Sale

    • $530,000
      883 SF

      Brevard Multifamily Property with Income Potential

      Three-bedroom home plus two apartments on a large city lot.
      565 Neely Rd, Brevard, NC 28712
      View Details
    • $1,200,000

      Historic Mixed-Use Brevard Property

      Downtown Brevard mixed-use building with retail and apartments.
      100 E Main St, Brevard, NC 28712
      View Details
    • $1,500,000
      3,613 SF

      84 E Main Street, Brevard, NC 28712

      Mixed-use properties • 3,613 SF
      84 E Main St, Brevard, NC 28712
      View Details
    • Contact for pricing
      3,613 SF

      Mixed-Use Building in Brevard Heart

      Mixed-use building with commercial unit, apartment, and storage area.
      84 E Main St, Brevard, NC 28712
      View Details
    • $1,500,000
      0.19 Acres

      Mixed-Use Building in Brevard, NC

      Mixed-use building in the heart of Brevard, North Carolina.
      84 E Main St, Brevard, NC 28712
      View Details
    • $75,000
      1.25 Acres

      Wooded Homesite in Straus Park

      1.25-acre homesite near Brevard's amenities and Straus Park facilities.
      Pine Mountain Trl, Brevard, NC 28712
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Brevard Commercial Land

      Land in the heart of Downtown Brevard, North Carolina.
      41 N Caldwell St, Brevard, NC 28712
      View Details
    • $12 SF/Yr
      9,600 SF

      Retail/Office Space in Brevard

      Two spaces available near downtown Brevard with high traffic.
      165 Rosman Hwy, Brevard, NC 28712
      View Details
    • Contact for pricing

      Medical Office Space Available

      Class A medical office buildings for lease on hospital campus.
      89 Hospital Dr, Brevard, NC 28712
      View Details
    • $14 SF/Yr

      Medical Office Space For Lease

      Class A medical office space on hospital campus for lease.
      89 Hospital Dr, Brevard, NC 28712
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      15,333 SF medical office space available for lease.
      377 Gallimore Rd, Brevard, NC 28712
      View Details
    • $7,848 /Mo

      Medical Office Building in Brevard

      5,625 SF medical office building near Transylvania Regional Hospital.
      157 Medical Park Dr, Brevard, NC 28712
      View Details
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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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