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    200 Villas Ct Asheville, NC 28806

    Under Contract
    For Sale
    $1,950,000

    COMMERCIAL - Asheville, NC

    Lot size:
    5.29 Acres
    Days on Market:
    324
    Last Refresh:
    Dec 11 at 9:06 pm

    Property Features for 200 Villas Ct

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    RM8
    APN
    9628270626
    Lot size
    5.29 Acres

    Utilities

    Sewer type
    Public Sewer

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

    Listing agent Greg Palombi (828) 216-4037

    Listing date Jan 22, 2025

    MLS# 3793359 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

    Approved Condominium Project Near Downtown

    This is a build and hold opportunity featuring a project with 72 proposed condominium units of 840 square feet each, approved by the Asheville City Council. Located 5 minutes from downtown Asheville, the development consists of 4 buildings with 12 units each and 3 buildings with 8 units each. According to the civil engineer and owner, the property is currently in the permitting process and out for bid to establish a construction budget. An earlier phase of condominium/townhomes, completed in 2007, featured 2-bedroom, 2-bathroom units with approximately 1,200 to 1,300 square feet; the last two sales were $230,000 and $240,000 per MLS. The 5.29-acre location is suitable for stick-built or off-frame modular construction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.625007
    Latitude
    35.586432

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    FAQs

    What type of property is this?
    Apartment building - Approved condominium project with 72 units, near downtown Asheville.
    Where is this apartment building located?
    The property is located at 200 Villas Ct Asheville, NC.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: - Approved for 72 Condominium Units: Ready for development.; - Prime Location: Just 5 minutes from downtown Asheville.; - High Potential ROI: Similar units in the area have sold for $230,000-$240,000.
    (828) 216-4037
    Request Owner's contact information
    200 Villas Ct Asheville, NC 28806
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    Asheville, NC 28806
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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
    200 Villas Ct Asheville, NC 28806
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