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Property profile & analytics
OFF-MARKET
Estimated value
$1,295,000
Retail space
197 Hilliard Ave, Asheville, NC 28801-3616
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1333950
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1947
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,850 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 2022-10-12 DEE
APN
9648-39-0151-00000
UPID
US53-1333950
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
-
Shooting Star Forge General Contractor
-
The Tiki Easy Bar Bar & Pub
-
Hi-Wire Brewing - South Slope Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.42M
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.30M
Owner & transaction history
Frodam Holdings LLC · 3 yrs held
Frodam Holdings LLC
since 2022
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
DEED DATE: 2022-10-12 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+36.8%
Auto repair, garage
$2.0M
+36.4%
Medical building
$1.8M
+20.1%
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
$1,200,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,535,000
6.5%
$1,415,000
7%
$1,315,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,475,000
Current use
COMMERCIAL (GENERAL)
$2,015,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,010,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$1,770,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$1,455,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,350,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±10% · vs last sale $1.40M (Oct 12 2022)
Last sale anchor
$1.40M
Oct 12 2022
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
$165 / 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
$10,055
Tax year 2024
Assessed value
$897,100
Assessed 2024
Previous assessed
$897,100
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$522,700
Improvement market value
$374,400
Total market value
$897,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1947
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
7,850 SF
Lot
0.2 ac (8,712 SF)
Zoning code
DEED DATE: 2022-10-12 DEE
APN
9648-39-0151-00000
UPID
US53-1333950
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2022-10-12 DEE · Asheville, NC
Zoning DEED DATE: 2022-10-12 DEE · permitted uses
DEED DATE: 2022-10-12 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
RETAIL STORES Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1947
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Frodam Holdings LLC
Entity
Mailing address
197 HILLIARD AVE, ASHEVILLE, NC 28801-3616
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2023
—
Frodam Holdings LLC
—
Deed
related
$450,000 · Mountain Bizcapital INC
Oct 12, 2022
$1,400,000
Frodam Holdings LLC
Douglas A Lapham JR
Warranty Deed
$1,785,000 · Truist Bank
Sep 14, 2021
—
Douglas A Lapham JR
Douglas Alanson Lapham JR
Intrafamily Transfer
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.
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