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    1870 Brevard Rd Arden, NC 28704
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    Property profile & analytics

    1870 Brevard Rd Arden, NC 28704

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    • Office buildings
    • 11,416 SF
    • 2.38 lot acres
    For Lease
    $87,955 SF/Yr
    View Listing →
    Upscale Retail Center Suites Available For Lease
    $87,955 SF/Yr
    2,513 SF

    Upscale Retail Center Suites Available

    Exclusive suites in South Asheville's newest Class A retail center.

    1870 Brevard Road, Arden, NC 28704
    View Listing
    Property ID
    US53-1934351
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SEPT Physical Therapy / Medical Clinic
    • AR Homes® Asheville Office & Interiors by AR Homes® (American Eagle Developers, LLC.) / Construction Company / General Contractor

    Property Details for 1870 Brevard Rd

    Year built
    2023
    Lot size
    2.38 lot acres
    Property size
    11,416 SF
    Zone code
    DEED DATE:01/26/2018 DEED
    Property type
    Office buildings
    APN
    9634-45-8752-00000
    APU
    963445875200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,317,000
      Market price range: $1.19M - $2.91M
      AI Estimate
      $2,317,000
      Market price range: $1.19M - $2.91M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,120,000
      Current use
      MEDICAL BUILDING
      $2,575,000
      Change: +21% Conversion: Easy
      RETAIL STORES
      $2,320,000
      Change: +9% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,170,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,075,000
      Change: -2% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,965,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Arden
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5783
    Latitude
    35.4715
    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
    $11,294
    $0.00
    $0.00
    $1,834,600
    -
    $435,400
    $1,399,200
    $1,834,600

    Comparable in this City

    • Value Estimation
      $1,130,000
      10,491 SF

      39 Loop Rd

      OFFICE BUILDING • 10,491 SF
      39 Loop Rd, Arden, NC 28704-8401
      View Details
    • Value Estimation by Request
      1,440 SF

      2330 Hendersonville Rd

      OFFICE BUILDING • 1,440 SF
      2330 Hendersonville Rd, Arden, NC 28704-2761
      View Details
    • Value Estimation
      $525,000
      3,744 SF

      3400 Sweeten Crk Rd

      OFFICE BUILDING • 3,744 SF
      3400 Sweeten Crk Rd, Arden, NC 28704-2508
      View Details
    • Value Estimation
      $520,000
      4,980 SF

      3424 Sweeten Crk Rd

      OFFICE BUILDING • 4,980 SF
      3424 Sweeten Crk Rd, Arden, NC 28704
      View Details
    • Value Estimation
      $750,000
      4,717 SF

      56 White Oak Rd

      OFFICE BUILDING • 4,717 SF
      56 White Oak Rd, Arden, NC 28704-9557
      View Details
    • Value Estimation
      $2,760,000
      10,828 SF

      2106 Hendersonville Rd

      OFFICE BUILDING • 10,828 SF
      2106 Hendersonville Rd, Arden, NC 28704-5704
      View Details

    Similar Nearby for Sale

    • $11,000,000

      South Asheville Manufacturing/Warehouse Opportunity

      122,397 SF manufacturing/warehouse in South Asheville for sale.
      90 Christ School Rd, Arden, NC 28704
      View Details
    • $965,000
      4,471 SF

      Arden Retail Space: Prime Location

      New Retail Building, 4,471 SF, NNN Lease
      226 Airport Rd, Arden, NC 28704
      View Details
    • $1,999,000

      Leased Warehouse Investment Opportunity

      Fully leased warehouse building with long-term tenant and annual escalations.
      375 Rockwood Rd, Arden, NC 28704
      View Details
    • $14,850,000

      Expansive Land Near Walnut Cove

      Over 47 acres of land near Asheville with equestrian facilities.
      173 Avery Creek Rd, Arden, NC 28704
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    • Contact for pricing

      Cleared Land on Long Shoals

      Prime commercial land with potential for zoning change.
      574 Long Shoals Rd, Arden, NC 28704
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    • $995,000

      Mountainside Estate Bordering National Forest

      14.97-acre mountainside estate bordering Pisgah National Forest.
      99999 Cliffsridge Pkwy, Arden, NC 28704
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    Similar Nearby for Lease

    • Contact for pricing
      3,182 SF

      Class A Office with Warehouse

      Premier Class A office building with flex and warehouse space.
      2 Trident Dr, Arden, NC 28704
      View Details
    • $12 SF/Yr

      Flexible Units in Business Park

      Flexible commercial spaces for lease in active industrial corridor.
      3865 Sweeten Creek Rd, Arden, NC 28704
      View Details
    • $87,955
      2,513 SF

      Upscale Retail Center Suites Available

      Exclusive suites in South Asheville's newest Class A retail center.
      1870 Brevard Rd, Arden, NC 28704
      View Details
    • $4,565 /Mo

      Retail Space in Arden

      Retail space with easy access to amenities and resources.
      141 Glenn Bridge Rd, Arden, NC 28704
      View Details
    View Listing
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    Arden, NC 28704
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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.

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