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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 7:06 am

    Property Features for 200 Villas Ct

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active Under Contract
    Zoning
    RM8
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    9628-27-0626-00000
    Lot size
    5.29 Acres

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    2021
    Number of units
    72

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

    Listing agent Greg Palombi (828) 216-4037

    Listing date Jan 22, 2025

    MLS# 3793362 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 Development Opportunity

    This property presents a build and hold opportunity with approved plans for 72 condominium units, each proposed to be 840 square feet. The development is located approximately 5 minutes from downtown Asheville. The approved plans include four buildings with 12 units each and three 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 units with two bedrooms and two bathrooms, ranging from approximately 1,200 to 1,300 square feet. Recent sales of these units have been recorded at $230,000 and $240,000 per MLS. The 5.29-acre location is suitable for either 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
    -82.62608
    Latitude
    35.585995

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    FAQs

    What type of property is this?
    Apartment building - Approved condominium development opportunity 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 with city council approval.; - Prime Location: Situated just 5 minutes from downtown Asheville.; - Construction Ready: Permitting in process and construction budget out for bid.
    (828) 216-4037
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    200 Villas Ct 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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