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    Asheville Warehouse with Rental Cottage Title is generated by Realmo AI

    17 Red Leaf Road, Asheville, NC 28806

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    Claim this Listing
    For Sale
    Under Contract
    $525,000

    SINGLE_FAMILY - Asheville, NC

    Type:Office
    Property size:
    2,280 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $230/SF
    Added:
    Mar 12, 2026
    Days on Market:
    85
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 17 Red Leaf Road

    General Information

    Property type
    Residential
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Carport, Driveway, Garage - Detached
    Appliances
    Electric Water Heater
    Standard status
    Active Under Contract
    APN
    9629-46-1440
    Size
    2,280 SF
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Description
    Deed Book 6189, Page 1308, Buncombe County Registry

    Utilities

    Utilities
    Cable Available
    Heating system
    Heat Pump (Heating), Central, Electric (Heating)
    Cooling system
    Electric, Central Air, Heat Pump

    Building Details

    Year built
    1980
    Roof type
    Shingle

    We can help!

    Listing Contact
    Martin Luna
    Martin Luna

    Listing agent Martin Luna License #193076

    Listing office EXP Realty LLC 16 Biltmore Ave Suite #300, Charlotte, NC

    Listing date Mar 12, 2026

    MLS# 4356788

    Copyright © 2026 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.

    HighLights

    • Cottage built in 2024 with 448 SF; currently rented for $1,100/month and soon to be month‑to‑month
    • Detached garage/workshop totaling 2,280 SF plus 1,400 SF carport; currently used as a warehouse
    • Garage upgrades in last 2–3 years include new architectural shingle roof, HVAC (2023), and garage doors (2023)
    • Garage has 3‑phase electrical power and includes an electric car charger and air compressor
    • 2‑bedroom septic permit on file; zoning is R‑3 and buyer must confirm intended use with the county
    • Location conveniences: 12 minutes to Downtown Asheville, less than 10 minutes to West Asheville, and 14 minutes to Weaverville

    Overview

    This property features a well-maintained, large, and functional 2280-square-foot garage or warehouse space with an additional 1400-square-foot carport, accompanied by a newly built 448-square-foot cottage. The cottage, constructed in 2024, is currently rented for $1,100 monthly. The garage, presently utilized as a warehouse, has undergone several upgrades in the past 2-3 years, including a new architectural shingle roof, new HVAC system in 2023, new garage doors in 2023, a new water line to the street, 3-phase electrical power, fresh paint inside and out, an electric car charger, and an air compressor. It includes a small office, a half bath, and a space currently used as a snack room. Some shelving will convey. A 2-bedroom septic permit is on file. The cottage is currently rented and will soon be on a month-to-month basis, offering immediate income potential or flexibility for owner occupancy. Situated in close proximity to Asheville, the location offers city water and county taxes. Zoned R-3, the buyer is responsible for confirming their intended use of the property with the county. The property is located approximately 12 minutes from Downtown Asheville, less than 10 minutes from West Asheville, and about 14 minutes from Weaverville. The property sits on a 0.74-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Similar Places Nearby

    • Lark Self Storage — 15 Balance Ln, Asheville, NC 28806

    Map

    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.6047659
    Latitude
    35.6038873

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    FAQs

    What type of property is this?
    Warehouse - Well-maintained warehouse with a newly built rental cottage.
    Where is this warehouse located?
    The property is located at 17 Red Leaf Road Asheville, NC.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Cottage built in 2024 with 448 SF; currently rented for $1,100/month and soon to be month‑to‑month; Detached garage/workshop totaling 2,280 SF plus 1,400 SF carport; currently used as a warehouse; Garage upgrades in last 2–3 years include new architectural shingle roof, HVAC (2023), and garage doors (2023)
    (828) 691-8272
    We can help!
    Listing Contact
    Martin Luna
    Martin Luna
    Real Estate License ID: 193076
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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.

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