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Property profile & analytics
OFF-MARKET
Estimated value
$4,965,000
Medical Office Space
111 Victoria Rd, Asheville, NC 28801-4811
Trust Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1225348
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
BRICK
Total area
10,574 SF
Lot
2.67 ac (116,305 SF)
Zoning code
DEED DATE: 2023-03-09 DEE
APN
9648-32-2981-00000
UPID
US53-1225348
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
-
Mark A. Rasmussen Physician
-
Dr. Richard Rutherford Physician
-
Dr. Robert Chadderdon Physician
-
Myron Smith Physician
-
Dr. Joseph Dement Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.97M
Owner & transaction history
Trustees Of Asheville-buncombe Tech · 2 yrs held
Trustees Of Asheville-buncombe Tech
since 2024
Last sale
$5.0M
3 recorded transactions
Zoning & alternative use
DEED DATE: 2023-03-09 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+66.1%
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
$4,965,000
ML approach
$4,965,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,965,000
Change: +66% · Conversion: Difficult
Blend value · Realmo final
$4.97M
Range $4.47M – $5.46M · ±10% · vs last sale $4.97M (Mar 22 2024)
Last sale anchor
$4.97M
Mar 22 2024
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
$470 / 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
$20,556
Tax year 2024
Assessed value
$1,989,700
Assessed 2024
Previous assessed
$1,989,700
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$854,800
Improvement market value
$1,134,900
Total market value
$1,989,700
Applied tax rate
4.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1978
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Total area
10,574 SF
Lot
2.67 ac (116,305 SF)
Zoning code
DEED DATE: 2023-03-09 DEE
APN
9648-32-2981-00000
UPID
US53-1225348
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-03-09 DEE · Asheville, NC
Zoning DEED DATE: 2023-03-09 DEE · permitted uses
DEED DATE: 2023-03-09 DEE · Asheville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Asheville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.0M
RESTAURANT
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
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.67 ac
Current owner
From public records · entity-resolved
Trustees Of Asheville-buncombe Tech
Trust
Mailing address
340 VICTORIA RD, ASHEVILLE, NC 28801-4816
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Mar 22, 2024
$4,966,000
Trustees Of Asheville-buncombe Tech
Beyond Properties LLC
Special Warranty Deed
—
Mar 9, 2023
$2,250,000
Beyond Properties LLC
Joseph M Dement
Special Warranty Deed
$1,800,000 · Trupoint Bank
Mar 9, 2023
—
Joseph M Dement
Victoria Medical Plaza LLC
Special Warranty Deed
—
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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