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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Strip malls
226 Airport Rd Arden, NC 28704-9516
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-4421315
Property summary
AI-generated overview
Thomas Plaza Phase II presents a unique opportunity for retail businesses in Buncombe County. This brand-new, 4,471 square foot retail center offers flexible space options, perfect for owner-occupants or multiple tenants. Currently, all 4,471 square feet are available for lease or purchase. Individual suites range from a minimum of 993 square feet to a maximum contiguous space of 2,482 square feet, allowing for customization to suit various business needs. The property is ideally situated on a busy Airport Road corridor, boasting 24,000 vehicles per day, ensuring high visibility and accessibility. Easy ingress and egress are facilitated by a signalized light. The strategic location provides excellent exposure, enhanced by pylon signage and proximity to established national retailers such as Aspen Dental, Jimmy John's, and Burger King. This build-to-suit opportunity allows for the creation of retail, medical, or business service spaces, catering to a diverse range of potential occupants. The building was completed in 2024, offering modern amenities and a fresh, contemporary aesthetic. This prime location and flexible space options make Thomas Plaza Phase II an exceptional investment opportunity.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
STEEL FRAME
Total area
5,621 SF
Lot
1.22 ac (53,143 SF)
Zoning code
DEED DATE:08/15/2018 DEED
APN
9653-08-2188-00000
UPID
US53-4421315
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aspen Dental - Arden, NC Dental Office
-
Dr. Lindsey Gates Dental Office
-
Jason Goldberg Dental Office
-
Casey Cho Dental Office
-
Jimmy John's Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.26M
Owner & transaction history
Ocean Front I LLC · 1 yrs held
Ocean Front I LLC
since 2025
2 recorded transactions
Zoning & alternative use
DEED DATE:08/15/2018 DEED · Arden, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+100.4%
Medical building
$1.3M
+31.2%
Retail stores
$1.1M
+18.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Arden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arden submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$965,000
Current use
RESTAURANT
$1,940,000
Change: +100% · Conversion: Difficult
MEDICAL BUILDING
$1,270,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$1,140,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,070,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$1,045,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,020,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$223 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$11,084
Tax year 2024
Assessed value
$1,195,800
Assessed 2024
Previous assessed
$1,195,800
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$1,116,000
Improvement market value
$79,800
Total market value
$1,195,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2019
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
5,621 SF
Lot
1.22 ac (53,143 SF)
Zoning code
DEED DATE:08/15/2018 DEED
APN
9653-08-2188-00000
UPID
US53-4421315
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:08/15/2018 DEED · Arden, NCZoning DEED DATE:08/15/2018 DEED · permitted uses
DEED DATE:08/15/2018 DEED · Arden, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$965,000
RESTAURANT
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
1.22 ac
Current owner
From public records · entity-resolved
Ocean Front I LLC
Entity
Mailing address
PO BOX 6969, SYRACUSE, NY 13217-6969
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2025
$5,175,000
Ocean Front I LLC
Bradley Branch Associates LLC
Special Warranty Deed
$2,200,000 · First Bank
Apr 30, 2019
—
Bradley Branch Associates LLC
—
Deed
related
$2,610,405 · Trupoint Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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