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Property profile & analytics
OFF-MARKET
Estimated value
$30,525,000
Strip malls
1 Mckenna Rd Arden, NC 28704-9201
Entity Owned
21-yr Hold
Free & Clear
Property ID
US53-1157114
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
172,450 SF
Lot
32.46 ac (1,413,958 SF)
Zoning code
DEED DATE: 04/22/2003 DEE
APN
9643-76-5718-00000
UPID
US53-1157114
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
-
FedEx ShipSite Postal Service Courier Service
-
Coinhub Bitcoin ATM Teller Atm
-
FedEx Drop Box Postal Service Courier Service
-
OfficeMax (Bike/Boat/Book/etc) Store
-
OfficeMax Print & Copy Services (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.53M
Blend (final)
Blend
$30.53M
Owner & transaction history
Target Corp · 21 yrs held
Target Corp
since 2005
4 recorded transactions
Zoning & alternative use
DEED DATE: 04/22/2003 DEE · Arden, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$38.9M
+31.2%
Retail stores
$35.0M
+18.0%
Auto repair, garage
$32.8M
+10.4%
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
$29,670,000
Current use
MEDICAL BUILDING
$38,920,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$35,015,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$32,755,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$32,060,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$31,330,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$30.53M
Range $27.47M – $33.58M · ±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
$177 / 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
$269,492
Tax year 2024
Assessed value
$29,074,500
Assessed 2024
Previous assessed
$29,074,500
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$7,211,200
Improvement market value
$21,863,300
Total market value
$29,074,500
Applied tax rate
7.0000
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
172,450 SF
Lot
32.46 ac (1,413,958 SF)
Zoning code
DEED DATE: 04/22/2003 DEE
APN
9643-76-5718-00000
UPID
US53-1157114
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 04/22/2003 DEE · Arden, NCZoning DEED DATE: 04/22/2003 DEE · permitted uses
DEED DATE: 04/22/2003 DEE · 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
$29.7M
MEDICAL BUILDING
Est. value
$38.9M
RETAIL STORES
Est. value
$35.0M
AUTO REPAIR, GARAGE
Est. value
$32.8M
OFFICE BUILDING
Est. value
$32.1M
COMMERCIAL (GENERAL)
Est. value
$31.3M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
32.46 ac
Current owner
From public records · entity-resolved
Target Corp
Entity
Free & Clear · 21 yrs held
Mailing address
PO BOX 5369, WAYLAND, MA 01778-6369
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2018
—
Southridge Associates LLC
—
Deed
related
$26,200,000 · Miscellaneous Ins Co
Jan 6, 2005
—
Target Corp
Southridge Associates LLC
Grant Deed
related
—
—
—
Southridge Associates LLC
—
Deed Of Trust
related
$26,200,000 · Miscellaneous Ins Co
—
—
Southridge Associates LLC
—
Loan Modification
related
$26,200,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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