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Property profile & analytics
FOR LEASE
Office buildings
168 Patton Ave Asheville, NC 28801
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0523807
For Lease
1 / 12
$24 SF/Yr
168 Patton Ave, Asheville, NC 28801
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
BRICK
Total area
6,762 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 2021-12-21 DEE
APN
9648-29-1884-00000
UPID
US53-0523807
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
-
Civil Design Concepts Civil Engineer
-
Asheville Pocket Neighborhoods Real Estate Agency
-
Trillium Properties of Asheville, Inc. Real Estate Agency
-
North Carolina Property Guide Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.11M
Owner & transaction history
168 Patton LLC · 4 yrs held
168 Patton LLC
since 2021
6 recorded transactions
Zoning & alternative use
DEED DATE: 2021-12-21 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+38.7%
Auto repair, garage
$1.7M
+38.4%
Medical building
$1.5M
+21.9%
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
OFFICE BUILDING
$1,255,000
Current use
COMMERCIAL (GENERAL)
$1,735,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,735,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$1,525,000
Change: +22% · Conversion: Easy
RETAIL STORES
$1,270,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,165,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±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
$163 / 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
$10,766
Tax year 2024
Assessed value
$960,600
Assessed 2024
Previous assessed
$960,600
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$357,200
Improvement market value
$603,400
Total market value
$960,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1971
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Total area
6,762 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 2021-12-21 DEE
APN
9648-29-1884-00000
UPID
US53-0523807
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2021-12-21 DEE · Asheville, NC
Zoning DEED DATE: 2021-12-21 DEE · permitted uses
DEED DATE: 2021-12-21 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
OFFICE BUILDING Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1971
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
168 Patton LLC
Entity
Mailing address
2101 SUPERIOR AVE E STE #300, CLEVELAND, OH 44114-2153
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
—
168 Patton LLC
Asheville Downtown Investments LLC
Special Warranty Deed
—
Jul 24, 2019
—
Asheville Downtown Investments LLC
—
Deed
related
$2,000,000 · Capital Bank
Dec 31, 2014
—
Wyatt M Watson
Bew Properties LLC
Grant Deed
—
—
—
Bew Properties LLC
—
Deed Of Trust
related
$134,456 · Rbc Bank (usa)
—
—
Bew Properties LLC
—
Deed Of Trust
related
$211,748 · Rbc Bank (usa)
—
—
Bew Properties LLC
—
Deed Of Trust
related
$300,000 · Rbc Bank (usa)
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?”
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