New search
Property profile & analytics
FOR LEASE
Turn key restaurants
167 Smokey Park Hwy, Asheville, NC 28806
Individually Owned
Absentee Owner
Free & Clear
Property ID
US53-1243811
For Lease
1 / 37
$720,000
167 Smokey Park Hwy, Asheville, NC 28806
View Listing →
Property summary
AI-generated overview
This exceptional 0.66-acre commercial land parcel is ideally situated at 167 Smokey Park Highway in Asheville, Buncombe County, North Carolina (zip code 28806). Zoned HB, this single-tenant property presents a unique opportunity for developers and businesses seeking a prime location with high visibility. The lot offers significant potential for a build-to-suit development, catering to a variety of commercial uses. Given its size and location, this property is well-suited for retail pad development, offering excellent exposure to a substantial daily traffic volume. The property is available for ground lease, with price and terms negotiable. All offers are encouraged. This is a rare chance to acquire a strategically positioned commercial lot in a thriving Asheville market. The property's location provides easy access to major roadways and a diverse customer base. Serious inquiries are welcome. Act quickly to secure this exceptional investment opportunity. Latitude and longitude coordinates are 35.5636172, -82.6298371 respectively.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,456 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DEED DATE: 02/18/1997 DEE
APN
9627-09-7799-00000
UPID
US53-1243811
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
-
Healthy Harvest Produce Food Market Specialty Food Shop
-
UNITED REFRESHMENT SOLUTIONS Big Box & Wholesale Store
-
The Extended Garden Florist (Bike/Boat/Book/etc) Store Florist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$718k
Blend (final)
Blend
$720k
Owner & transaction history
Sharon Anderson Tolley Irrevocable
Sharon Anderson Tolley Irrevocable
since 2025
2 recorded transactions
Zoning & alternative use
DEED DATE: 02/18/1997 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
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$495 / 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
$4,687
Tax year 2024
Assessed value
$505,700
Assessed 2024
Previous assessed
$505,700
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$460,000
Improvement market value
$45,700
Total market value
$505,700
Applied tax rate
5.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
1,456 SF
Lot
0.66 ac (28,750 SF)
Zoning code
DEED DATE: 02/18/1997 DEE
APN
9627-09-7799-00000
UPID
US53-1243811
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 02/18/1997 DEE · Asheville, NC
Zoning DEED DATE: 02/18/1997 DEE · permitted uses
DEED DATE: 02/18/1997 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.
Building & site characteristics
From public records
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
Sharon Anderson Tolley Irrevocable
Individual
Free & Clear · 0 yrs held
Mailing address
5 W HVN DR, ARDEN, NC 28704-9713
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2025
—
Sharon Anderson Tolley Irrevocable
Sharon Anderson Tolley Irrevocable
Deed
related
—
Apr 18, 2024
—
Kermit Talmadge Tolley JR
Sharon Anderson Tolley
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
