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    142 Airport Rd Arden, NC 28704-8597
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    Property profile & analytics

    142 Airport Rd Arden, NC 28704-8597

    View on Map
    • Strip malls
    • 24,560 SF
    • 1.04 lot acres
    Off-Market
    Property ID
    US53-1791051
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,045,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Appalachian Hemp n Hops Spa / Spa & Massage Center
    • BOJANGLES OF WNC / Restaurant
    • Asheville Gastroenterology: Newcomer Michael K MD / Physician
    • Airport Center Office Plaza / Business Service Center / Corporate Office
    • Asheville Gastroenterology: May David T MD / Physician

    Property Details for 142 Airport Rd

    Year built
    2006
    Construction
    STEEL FRAME
    Lot size
    1.04 lot acres
    Property size
    24,560 SF
    Zone code
    DEED DATE:05/04/2018 DEED
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    9653-08-4401-00000
    APU
    965308440100000

    Description

    This Arden, NC executive office building, located at 142 Airport Rd, offers 12 suites in a 12,000 square foot, two-story Class B building situated on a 1.04-acre lot. Built in 2006 and renovated in 2015, the property is zoned CI and features 1,200 square feet of immediately available space, divisible into units ranging from 1,200 to 4,800 contiguous square feet. Units boast efficient floor plans, including reception areas, large cubicle spaces, workrooms, and breakrooms. The building offers ample parking and prominent signage on Airport Road for excellent visibility. The property's convenient location is easily accessible from I-26, Exit 40, approximately 1.4 miles north/northeast on Airport Road, at the intersection of Airport Road and Watson Road. The Buncombe County property (APN 9653-08-4401) presents a fantastic opportunity for businesses seeking flexible and functional office space in a desirable location. The available space is ideal for a variety of office configurations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,044,000
      Market price range: $2.04M - $8.38M
      AI Estimate
      $2,044,000
      Market price range: $2.04M - $8.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Arden
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5252
    Latitude
    35.4529
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $17,606
    $0.00
    $0.00
    $1,899,400
    -
    $679,500
    $1,219,900
    $1,899,400

    Comparable in this City

    • Value Estimation
      $1,550,000
      10,432 SF

      21 Long Shls Rd

      SHOPPING CENTER, STRIP CENTER • 10,432 SF
      21 Long Shls Rd, Arden, NC 28704-7737
      View Details
    • Value Estimation by Request
      9,900 SF

      1 Brian Blvd

      SHOPPING CENTER, STRIP CENTER • 9,900 SF
      1 Brian Blvd, Arden, NC 28704-8485
      View Details
    • Value Estimation
      $1,015,000
      6,987 SF

      2145 Hendersonville Rd

      SHOPPING CENTER, STRIP CENTER • 6,987 SF
      2145 Hendersonville Rd, Arden, NC 28704-9723
      View Details
    • Value Estimation
      $3,995,000
      16,689 SF

      229 Airport Rd

      SHOPPING CENTER, STRIP CENTER • 16,689 SF
      229 Airport Rd, Arden, NC 28704-6402
      View Details
    • Value Estimation
      $1,110,000
      9,180 SF

      2144 Hendersonville Rd

      SHOPPING CENTER, STRIP CENTER • 9,180 SF
      2144 Hendersonville Rd, Arden, NC 28704-5705
      View Details
    • Value Estimation
      $630,000
      5,500 SF

      2200 Hendersonville Rd

      SHOPPING CENTER, STRIP CENTER • 5,500 SF
      2200 Hendersonville Rd, Arden, NC 28704-9656
      View Details

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      Arden Commercial Land For Sale

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    Similar Nearby for Lease

    • $4,565 /Mo

      Retail Space in Arden

      Retail space with easy access to amenities and resources.
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    • $12 SF/Yr

      Flexible Units in Business Park

      Flexible commercial spaces for lease in active industrial corridor.
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    • Contact for pricing
      3,182 SF

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      Premier Class A office building with flex and warehouse space.
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      View Details
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    Arden, NC 28704-8597
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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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