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Property profile & analytics
OFF-MARKET
Estimated value
$2,275,000
Warehouses
15 Walden Dr Arden, NC 28704-8330
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1675038
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2000
Construction
BRICK
Total area
13,112 SF
Lot
4 ac (174,240 SF)
Zoning code
DEED DATE: 06/28/2005 DEE
APN
9654-22-8435-00000
UPID
US53-1675038
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
-
Nationwide Insurance Insurance Agency
-
DMH Builders Inc Construction Company
-
Asheville Cabinets Hardware & Home Improvement Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$2.28M
Owner & transaction history
Horizon Real Estate Invs LLC · 15 yrs held
Horizon Real Estate Invs LLC
since 2011
7 recorded transactions
Zoning & alternative use
DEED DATE: 06/28/2005 DEE · Arden, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.0M
+107.0%
Retail stores
$2.7M
+86.2%
Auto repair, garage
$2.5M
+74.2%
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 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
WAREHOUSE, STORAGE
$1,430,000
Current use
MEDICAL BUILDING
$2,960,000
Change: +107% · Conversion: Difficult
RETAIL STORES
$2,660,000
Change: +86% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,490,000
Change: +74% · Conversion: Easy
OFFICE BUILDING
$2,440,000
Change: +71% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,380,000
Change: +67% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,255,000
Change: +58% · Conversion: Moderate
Blend value · Realmo final
$2.28M
Range $2.05M – $2.50M · ±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
$174 / 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
$18,039
Tax year 2024
Assessed value
$1,946,200
Assessed 2024
Previous assessed
$1,946,200
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$535,800
Improvement market value
$1,410,400
Total market value
$1,946,200
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
BRICK
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
13,112 SF
Lot
4 ac (174,240 SF)
Zoning code
DEED DATE: 06/28/2005 DEE
APN
9654-22-8435-00000
UPID
US53-1675038
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 06/28/2005 DEE · Arden, NCZoning DEED DATE: 06/28/2005 DEE · permitted uses
DEED DATE: 06/28/2005 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
WAREHOUSE, STORAGE Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2000
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
4 ac
Current owner
From public records · entity-resolved
Horizon Real Estate Invs LLC
Entity
Mailing address
19 WALDEN DR, ARDEN, NC 28704-3314
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2020
—
Smith Centre LLC
—
Deed
related
$1,600,000 · Entegra Bk
Mar 21, 2017
—
Smith Centre LLC
—
Deed
related
$1,645,000 · Hometrust Bank
Jan 7, 2011
$355,000
Horizon Real Estate Invs LLC
Jo Paul Properties LLC
Warranty Deed
$565,250 · Asheville Svgs Bk
Aug 31, 2005
$1,600,000
Jopaul Properties LLC
Cordell,william H JR & Joyce
Warranty Deed
—
Jun 28, 2005
—
Smith Centre LLC
Owner Name Unavailable
Warranty Deed
—
—
—
Smith Centre LLC
—
Deed Of Trust
related
$1,600,000 · Entegra Bk
—
—
The Smith Centre LLC
—
Deed Of Trust
related
$259,386 · Carolina First Bank
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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