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    Family Retreat Near Downtown Asheville Title is generated by Realmo AI

    631 Macedonia Road Asheville, Asheville, NC 28804

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    For Sale
    $875,000

    11.75-acre family retreat, 15 minutes from downtown Asheville.

    Type:Commercial
    Property size:
    10 SF
    Price / SF:
    $87,500/SF
    Added:
    Sep 25, 2025
    Days on Market:
    250
    Last Refresh:
    Apr 29 at 8:07 pm

    Property Features for 631 Macedonia Road Asheville

    General Information

    Standard status
    Active
    Size
    10 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Pat Snyder

    Listing agent Pat Snyder License #137870

    Listing office Janus Real Estate, LLC

    Listing date Sep 25, 2025

    Source Nationalland

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Janus Real Estate, LLC

    HighLights

    • 11.75 deeded acres in an amazing location, only 15 minutes from Downtown Asheville.
    • Multiple building sites offer potential for expansion or development.
    • Open Use Zoning allows for a variety of possibilities, including farming or development.
    • Woodfin Municipal Water available, potentially allowing for higher density development (buyer to verify taps).
    • Gently sloping, south‑west facing property tucked away from the road.
    • Spacious house with hardwood floors (under carpet), eat‑in kitchen, primary bedroom with attached bath, and multiple garages.

    Overview

    This family retreat, situated on 11.75 deeded acres, is located approximately 15 minutes from downtown Asheville. The property features multiple building sites and a house with what is described as very good bones and plenty of space. The house includes a large one-car garage on the main back side, and another garage in the basement. It is equipped with a hot water boiler baseboard furnace, hardwood floors under the carpet on the main level, an eat-in kitchen, and a primary bedroom with an attached bath. The property is thinly wooded and gently sloping, facing southwest, with the house set uphill away from the road. Trees could be cleared to create pasture for horses or farming. Open Use Zoning is in place within the 28804 Zip Code. The property could be developed because Woodfin Municipal Water is available for higher density. Buyer to Verify How Many Taps but the engineer said development is possible. This property could serve as a family compound or be converted to a farm.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Hotel & Motel Daycare Center HVAC Service Electrical Service Garden Center Travel Agency Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.6259
    Latitude
    35.6473

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    FAQs

    What type of property is this?
    Land - 11.75-acre family retreat, 15 minutes from downtown Asheville.
    Where is this land located?
    The property is located at 631 Macedonia Road Asheville Asheville, NC.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: 11.75 deeded acres in an amazing location, only 15 minutes from Downtown Asheville.; Multiple building sites offer potential for expansion or development.; Open Use Zoning allows for a variety of possibilities, including farming or development.
    (828) 761-0841
    We can help!
    Listing Contact
    Pat Snyder
    Real Estate License ID: 137870
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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.

    More about this property
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