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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Medical Office Space
155 Biltmore Ave, Asheville, NC 28801-4105
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0296343
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1969
Construction
BRICK
Total area
3,422 SF
Lot
0.33 ac (14,375 SF)
Zoning code
DEED DATE:03/22/2021 DEED
APN
9648-48-2474-00000
UPID
US53-0296343
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.06M
Owner & transaction history
155 Biltmore Development LLC · 5 yrs held
155 Biltmore Development LLC
since 2021
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
DEED DATE:03/22/2021 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$880,000
+13.8%
Auto repair, garage
$875,000
+13.6%
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
$905,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$945,000
6.5%
$875,000
7%
$810,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$770,000
Current use
COMMERCIAL (GENERAL)
$880,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$875,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$645,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10% · vs last sale $1.20M (Mar 22 2021)
Last sale anchor
$1.20M
Mar 22 2021
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
$310 / 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
$13,695
Tax year 2024
Assessed value
$1,221,900
Assessed 2024
Previous assessed
$1,221,900
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$1,221,900
Total market value
$1,221,900
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
1969
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
1
Total area
3,422 SF
Lot
0.33 ac (14,375 SF)
Zoning code
DEED DATE:03/22/2021 DEED
APN
9648-48-2474-00000
UPID
US53-0296343
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:03/22/2021 DEED · Asheville, NC
Zoning DEED DATE:03/22/2021 DEED · permitted uses
DEED DATE:03/22/2021 DEED · 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
MEDICAL BUILDING Current
Est. value
$770,000
COMMERCIAL (GENERAL)
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$875,000
RETAIL STORES
Est. value
$645,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1969
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
155 Biltmore Development LLC
Entity
Free & Clear · 5 yrs held
Mailing address
216 VLG RD, GREEN VILLAGE, NJ 07935-3034
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Mar 22, 2021
—
155 Biltmore Development LLC
Preserve Communities Nc LLC
Quit Claim Deed
related
—
Oct 15, 2020
—
Preserve Communities Biltmore
—
Deed
related
$673,006 · Hatteras Sky LLC
Jul 7, 2020
$1,200,000
Preserve Communities Nc LLC
155 Biltmore LLC
Warranty Deed
$1,000,000 · 155 Biltmore LLC
Oct 2, 2015
$850,000
155 Biltmore LLC
Fox,kevin T & Lisa R
Warranty Deed
—
—
—
Kevin T Fox
—
Deed Of Trust
related
$40,000 · Bank Of Asheville
—
—
Fox,kevin T & Lisa R
—
Deed Of Trust
related
$274,000 · Wachovia Bk/sc
—
—
Preserve Communities Biltmore
—
Deed Of Trust
related
$673,006 · Hatteras Sky LLC
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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