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    548 Caribou Rd Asheville, NC 28803

    Sponsored
    For Sale
    $1,325,000

    10-Acre City Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 10-acre development site in Asheville, North Carolina, presents a unique opportunity. Located at 548 Caribou Rd, Buncombe County, zip code 28803 (APN 9657113881), this property is zoned RS4, allowing for a potential 49-lot subdivision by right. The seller is actively pursuing a rezoning effort to increase density, offering significant upside potential. The site boasts three convenient access points from private dead-end streets and benefits from readily available public utilities. This prime location makes it ideal for creating a new community of affordable or modest homes. Note that major subdivisions and rezoning require a Level 3 city review. The status of any ongoing rezoning efforts will be documented before any offer is accepted; the seller will cooperate with rezoning efforts depending on the timing of the sale. This is a rare chance to acquire a large, well-situated parcel within city limits, poised for substantial development. The asking price is $1,325,000.

    Property Features for 548 Caribou Rd

    General Information

    Property type
    Land
    Lot Size
    435,600 SF

    HighLights

    • 10‑acre development site within Asheville city limits, offering potential for a 49‑lot subdivision under current RS4 zoning.
    • Owner pursuing rezoning for increased density.
    • Three private road access points.
    • Public utilities readily available.
    • Excellent opportunity for developing affordable housing.
    • Major subdivision and rezoning require a Level 3 city review; rezoning status to be documented before offers; seller will cooperate with rezoning efforts depending on timing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5259189
    Latitude
    35.5447981

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    FAQs

    What type of property is this?
    Land - 10-Acre City Development Site
    Where is this land located?
    The property is located at 548 Caribou Rd Asheville, NC.
    What is the asking price?
    The asking price for this property is $1,325,000.
    What are key features of this property?
    This property features: 10-acre development site within Asheville city limits, offering potential for a 49-lot subdivision under current RS4 zoning.; Owner pursuing rezoning for increased density.; Three private road access points.
    (828) 674-4350
    Request Owner's contact information
    548 Caribou Rd Asheville, NC 28803
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    Asheville, NC 28803
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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
    548 Caribou Rd Asheville, NC 28803
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