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Property profile & analytics
OFF-MARKET
Estimated value
$5,090,000
Commercial real estate
1238 Hendersonville Rd, Asheville, NC 28803-1903
Individually Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0853975
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1957
Construction
STEEL FRAME
Total area
29,733 SF
Lot
1.06 ac (46,174 SF)
Zoning code
DEED DATE: 06/11/1963 DEE
APN
9656-05-3876-00000
UPID
US53-0853975
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
-
Dynamic Development Inc. Construction Company
-
Mind Matters Psychotherapy, PLLC, Lauri Burmeister MA LPA Physician Medical Clinic
-
North Carolina Real Estate Title Services Title Company
-
AS Appliance Repair Home Appliance Store
-
American Income Life - Rick Altig Jr & Ilija Orlovic Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.09M
Blend (final)
Blend
$5.09M
Owner & transaction history
BALLARD REX E
BALLARD REX E
Zoning & alternative use
DEED DATE: 06/11/1963 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
COMMERCIAL (GENERAL)
$7,790,000
Current use
AUTO REPAIR, GARAGE
$7,620,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$6,710,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$5.09M
Range $4.58M – $5.60M · ±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
$171 / 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
$10,533
Tax year 2024
Assessed value
$1,136,400
Assessed 2024
Previous assessed
$1,136,400
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$742,000
Improvement market value
$394,400
Total market value
$1,136,400
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1957
Construction
STEEL FRAME
Heating
NONE
Stories
2
Total area
29,733 SF
Lot
1.06 ac (46,174 SF)
Zoning code
DEED DATE: 06/11/1963 DEE
APN
9656-05-3876-00000
UPID
US53-0853975
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 06/11/1963 DEE · Asheville, NC
Zoning DEED DATE: 06/11/1963 DEE · permitted uses
DEED DATE: 06/11/1963 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
COMMERCIAL (GENERAL) Current
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$7.6M
MEDICAL BUILDING
Est. value
$6.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL 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
1957
Construction
STEEL FRAME
Heating
NONE
Stories
2
Lot
1.06 ac
Current owner
From public records · entity-resolved
BALLARD REX E
Individual
Free & Clear · 0 yrs held
Mailing address
14 RIDGEFIELD PL, ASHEVILLE, NC 28803-3020
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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