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Property profile & analytics
FOR SALE
Strip malls
1078 Tunnel Rd Asheville, NC 28805
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-5814971
For Sale
1 / 14
$4,700,000
1078 Tunnel Rd, Asheville, NC 28805
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1978
Construction
STEEL FRAME
Total area
6,654 SF
Lot
1.92 ac (83,635 SF)
Zoning code
DEED DATE: 2023-09-05 DEE
APN
9668-27-3260-00000
UPID
US53-5814971
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
-
Rogue Combat Club Training Center Sports School
-
Cory Short Productions Film Production Television Studio
-
Tienda Hispana Dona Juanita Specialty Food Shop Supermarket
-
Wow Nutrition Restaurant
-
Coach Mike Caulo Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.49M
Blend (final)
Blend
$1.49M
Owner & transaction history
1078 Tunnel Road LLC · 2 yrs held
1078 Tunnel Road LLC
since 2023
3 recorded transactions
Zoning & alternative use
DEED DATE: 2023-09-05 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Auto repair, garage
$1.7M
+49.0%
Commercial (general)
$1.6M
+40.1%
Medical building
$1.5M
+31.2%
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 Asheville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Asheville 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
$1,145,000
Current use
AUTO REPAIR, GARAGE
$1,705,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,605,000
Change: +40% · Conversion: Easy
MEDICAL BUILDING
$1,500,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$1,340,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$1,285,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$1.49M
Range $1.34M – $1.64M · ±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
$224 / 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
$13,137
Tax year 2024
Assessed value
$1,417,300
Assessed 2024
Previous assessed
$1,417,300
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$785,900
Improvement market value
$631,400
Total market value
$1,417,300
Applied tax rate
8.0000
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
For Sale
Year built
1978
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Total area
6,654 SF
Lot
1.92 ac (83,635 SF)
Zoning code
DEED DATE: 2023-09-05 DEE
APN
9668-27-3260-00000
UPID
US53-5814971
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-09-05 DEE · Asheville, NCZoning DEED DATE: 2023-09-05 DEE · permitted uses
DEED DATE: 2023-09-05 DEE · Asheville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Chapter 7 DEVELOPMENT
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1978
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Lot
1.92 ac
Current owner
From public records · entity-resolved
1078 Tunnel Road LLC
Entity
Free & Clear · 2 yrs held
Mailing address
8824 S LKS FRST DR, DAVIE, FL 33328
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2023
—
1078 Tunnel Road LLC
Frank & Stein LLC
Warranty Deed
—
Sep 1, 2006
$1,425,000
Frank & Stein LLC
Tompkins,brenda R
Grant Deed
—
—
—
Frank & Stein LLC
—
Deed Of Trust
related
$245,107 · Kahn Pearl Family Trust (pt)
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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