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    110 River Hills Rd Asheville, NC 28805

    Sponsored
    For Sale
    $2,600,000

    COMMERCIAL - Asheville, NC

    Lot size:
    10.90 Acres
    Days on Market:
    309
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 110 River Hills Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    965842023900000
    Lot size
    10.90 Acres

    Scott Carter (828) 255-4663 [email protected]

    Listing agent Greg Palombi (828) 216-4037

    Listing date Mar 3, 2025

    MLS# 3697386 Listing URL

    Copyright © 2025 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Asheville Apartment Complex Opportunity Zone

    This 10.9 acre parcel is located at the end of Tunnel Road in the River Hills Shopping Center in Asheville, NC. The site is situated next to national retail brands including Dollar Tree, Target, Michaels, Movie Theaters, and Dick's. The property is located in an Opportunity Zone and has city approval for a 153-unit apartment complex. The Commercial Industrial zoning allows for various uses, including retail, hospitality, multi-family, industrial, or mixed-use developments. The site benefits from high visibility from both directions of I-240, with a traffic volume of 52,000 vehicles per day. It features frontage along River Hills Road, providing access to the upper part of the acreage via approximately 400 feet of road frontage. Completed due diligence items are available, including an Army Corp wetlands delineation, phase 1 environmental site assessment, ALTA survey, project plans, traffic report, and geotechnical report.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.518605
    Latitude
    35.573745

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    FAQs

    What type of property is this?
    Apartment building - 10.9 acre parcel approved for 153-unit apartment complex.
    Where is this apartment building located?
    The property is located at 110 River Hills Rd Asheville, NC.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: - Approved for a 153-unit apartment complex.; - Located in an Opportunity Zone.; - High visibility location with 52,000 vehicles per day (VPD) on I-240.
    (828) 216-4037
    Request Owner's contact information
    110 River Hills Rd Asheville, NC 28805
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    Asheville, NC 28805
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    Realmo Value Estimation

    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.

    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.

    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
    110 River Hills Rd Asheville, NC 28805
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