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    9 Frito Way Arden, NC 28704

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    9 Frito Way Arden, NC 28704

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    • Commercial real estate
    For Sale
    $350,000
    View Listing →
    Luxury Arden Motor Condo Unit For Sale
    $350,000

    Luxury Arden Motor Condo Unit

    Private, secure garage condo in gated community.

    Oak Park, NC 28704
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 9 Frito Way

    Year built
    2025
    Property type
    Commercial real estate

    Description

    This exceptional 1000 sq ft luxury motor condominium, located at 9 Frito Way Unit 5 in Arden, NC, offers a unique blend of secure storage and upscale living. Situated within a private gated community, this unit boasts impressive dimensions of 20 feet wide by 50 feet deep and 19 feet high. Features include individual climate control (HVAC), a 14-foot-wide by 16-foot-high automatic overhead garage door, rough-in plumbing for a bathroom and shower, a robust 200 AMP service panel, and safety-focused GFCI outlets throughout. High-quality LED commercial lighting and a durable 3070 commercial walk door enhance both functionality and aesthetics. The unit is fully insulated and features a reinforced concrete floor for superior strength and security. Owners have the opportunity to fully customize their space, adding amenities such as restrooms, bars, mezzanines, and kitchens to create their ideal sanctuary. This represents an unparalleled opportunity to combine passion for vehicles (cars, boats, RVs, etc.) with sophisticated lifestyle aspirations. Priced at $350,000, this property offers a rare chance to own a piece of this revolutionary luxury vehicle storage community. The lot size is 0 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Arden
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5812
    Latitude
    35.4808

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      4 Celtic Dr, Unit B02

      COMMERCIAL CONDOMINUIM • 1,500 SF
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      301 Long Shls Rd

      COMMERCIAL (GENERAL) • 69,999 SF
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      421 Overlook Rd Ext

      COMMERCIAL (GENERAL) • 61,938 SF
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      31 Skyland Inn Dr

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    • Value Estimation by Request
      7.57 Acres

      Airport Rd

      Land • 7.57 Acres
      0 Airport Rd, Arden, NC 28704
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    Similar Nearby for Sale

    • $350,000

      Luxury Arden Motor Condo Unit

      Private, secure garage condo in gated community.
      9 Frito Way, Arden, NC 28704
      View Details
    • $2,800,000
      12,372 SF

      Multifamily Asset in South Asheville

      10-unit multifamily asset with value-add potential in high-growth area.
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    • $725,000
      1.40 Acres

      Land in Walnut Cove, Arden

      1.4-acre homesite in a gated golf and wellness community.
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    • $995,000
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      Arden Commercial Land For Sale

      Prime location near Dollar General with development potential.
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    • $47,500
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      Residential Lot in Gated Community

      Residential lot in Avery Park with amenities and potential views.
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    • $99,900
      0.50 Acres

      Residential Land in Avery's Creek

      0.50 acre lot in Avery's Creek, Arden, North Carolina.
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    Similar Nearby for Lease

    • $87,955
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      Retail Space in Arden

      Retail space with easy access to amenities and resources.
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    • Contact for pricing
      3,182 SF

      Class A Office with Warehouse

      Premier Class A office building with flex and warehouse space.
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    • $12 SF/Yr

      Flexible Units in Business Park

      Flexible commercial spaces for lease in active industrial corridor.
      3865 Sweeten Creek Rd, Arden, NC 28704
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    Arden, NC 28704
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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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    9 Frito Way, Arden, NC, 28704

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