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    Property profile & analytics

    41-61 Merrimon Ave Woodfin, NC 28804

    • Retail properties & Spaces
    • 12,958 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 41-61 Merrimon Ave

    Property size
    12,958 SF
    Property type
    Retail properties & Spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Woodfin
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5762
    Latitude
    35.641

    Comparable in this City

    • Value Estimation by Request
      469,577 SF

      41 Merrimon Ave

      Lifestyle centers • 469,577 SF
      41 Merrimon Ave, Woodfin, NC 28804
      View Details
    • Value Estimation by Request
      1,500 SF

      991 Riverside Dr

      AUTO REPAIR, GARAGE • 1,500 SF
      991 Riverside Dr, Asheville, NC 28804-3135
      View Details
    • Value Estimation by Request
      3,032 SF

      204 Weaverville Rd

      TAKE-OUT RESTAURANT • 3,032 SF
      204 Weaverville Rd, Asheville, NC 28804-1228
      View Details
    • Value Estimation by Request
      4,668 SF

      283 Weaverville Rd

      AUTO REPAIR, GARAGE • 4,668 SF
      283 Weaverville Rd, Asheville, NC 28804-1245
      View Details
    • Value Estimation by Request
      170 SF

      185 Macon Ave, Unit G1

      PARKING LOT • 170 SF
      185 Macon Ave, Asheville, NC 28804-3763
      View Details
    • Value Estimation by Request
      2,304 SF

      918 Merrimon Ave

      FINANCIAL BUILDING • 2,304 SF
      918 Merrimon Ave, Asheville, NC 28804-2360
      View Details

    Similar Nearby for Sale

    • $2,700,000
      8,975 SF

      Merrimon Avenue Redevelopment Opportunity

      Two parcels totaling 0.78 acres in desirable North Asheville.
      853 Merrimon Ave, Asheville, NC 28804
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    • $565,000
      0.13 Acres

      High-Traffic Asheville Commercial Property

      Freestanding building on Merrimon Avenue, suitable for retail or office.
      738 Merrimon Ave, Asheville, NC 28804
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      17,773 SF

      Freestanding Staples Asset For Sale

      Single-tenant Staples asset with corporate lease in Asheville, NC.
      65 Merrimon Ave, Asheville, NC 28804
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    • $2,700,000
      0.78 Acres

      Prime Asheville Redevelopment Opportunity

      Two parcels totaling 0.78 acres in desirable Grace Neighborhood.
      853 Merrimon Ave, Asheville, NC 28804
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    • $165,000
      0.19 Acres

      Asheville Land in Agrihood Community

      Land in planned community with organic farm and river access.
      240 Westridge Farm Rd, Asheville, NC 28804
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    • Contact for pricing
      1,678 SF

      New Construction Starbucks Investment Property

      New construction Starbucks with a corporate 10-year lease.
      474 Weaverville Rd, Asheville, NC 28804
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Suites in Reynolds Village

      Retail spaces available in a mixed-use development in North Asheville.
      41 N Merrimon Ave, Woodfin, NC 28804
      View Details
    • $19 SF/Yr
      2,395 SF

      Retail Space in Reynolds Village

      Retail suites available in a mixed-use development in North Asheville.
      61 N Merrimon Ave, Asheville, NC 28804
      View Details
    • $24 SF/Yr

      Retail Space on Merrimon Avenue

      Retail space for lease in high-traffic Asheville location.
      660 Merrimon Ave, Asheville, NC 28804
      View Details
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    41-61 Merrimon Ave
    Woodfin, NC 28804
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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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