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Property profile & analytics
OFF-MARKET
Estimated value
$5,775,000
Medical Office Space
222 Asheland Ave Asheville, NC 28801-4016
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US53-2222060
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1989
Construction
BRICK
Total area
19,708 SF
Lot
1.57 ac (68,389 SF)
Zoning code
DEED DATE: 06/09/2004 DEE
APN
9648-36-0984-00000
UPID
US53-2222060
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
-
Dr. Richard W. Bock, MD Physician Hospital
-
Alyssa spa Hair Salon Nail Salon
-
Dr. Douglas P. Macmillan Jr, MD Physician
-
Carolina Vascular: Hodges David MD Physician Medical Clinic
-
Dr. Lemuel B. Kirby, MD Physician Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.77M
Blend (final)
Blend
$5.78M
Owner & transaction history
Imaging Partners Props LLP · 22 yrs held
Imaging Partners Props LLP
since 2004
5 recorded transactions
Zoning & alternative use
DEED DATE: 06/09/2004 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.4M
+66.1%
Commercial (general)
$5.1M
+13.8%
Auto repair, garage
$5.1M
+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
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
MEDICAL BUILDING
$4,450,000
Current use
RESTAURANT
$7,385,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,065,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,050,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$3,700,000
Change: -17% · Conversion: Difficult
OFFICE BUILDING
$3,650,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$5.78M
Range $5.20M – $6.35M · ±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
$293 / 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
$62,249
Tax year 2024
Assessed value
$6,025,500
Assessed 2024
Previous assessed
$6,025,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$1,436,200
Improvement market value
$4,589,300
Total market value
$6,025,500
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
1989
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Total area
19,708 SF
Lot
1.57 ac (68,389 SF)
Zoning code
DEED DATE: 06/09/2004 DEE
APN
9648-36-0984-00000
UPID
US53-2222060
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 06/09/2004 DEE · Asheville, NC
Zoning DEED DATE: 06/09/2004 DEE · permitted uses
DEED DATE: 06/09/2004 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
MEDICAL BUILDING Current
Est. value
$4.5M
RESTAURANT
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$5.1M
RETAIL STORES
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.7M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1989
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.57 ac
Current owner
From public records · entity-resolved
Imaging Partners Props LLP
Entity
Mailing address
PO BOX 2959, ASHEVILLE, NC 28802-2959
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2020
—
Imaging Partners Properties LLP
—
Deed
related
$4,000,000 · First Citizens Bank & Trust Co
Jun 9, 2004
—
Imaging Partners Props LLP
Asheville Radiology Billing Of
Warranty Deed
$849,466 · Wachovia Bk/sc
Jun 4, 2004
—
Imaging Ptr Properties LLC
Asheville,radiol
Grant Deed
related
—
—
—
Imaging Partners Props LLP
—
Deed Of Trust
related
$498,685 · Wachovia Bk/sc
—
—
Imaging Partners Properties Ll
—
Deed Of Trust
related
$700,000 · First Citizens Bk & Tr Co
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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