Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    233 Biltmore Ave Asheville, NC 28801-4107

    • Breweries
    • 1,092 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Apr 26, 2021
    $1,265,000
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5807712
    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.

    Current Use by Public Records

    • Boost Mobile Store by Premier Wireless / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 233 Biltmore Ave

    Year built
    1950
    Construction
    BRICK
    Lot size
    0.26 lot acres
    Property size
    1,092 SF
    Zone code
    DEED DATE: 10/23/2006 DEE
    Property type
    Breweries
    APN
    9648-47-1459-00000
    APU
    964847145900000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $955,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.552
    Latitude
    35.5871
    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
    $8,274
    $0.00
    $0.00
    $738,200
    -
    $679,600
    $58,600
    $738,200

    Comparable in this City

    • Value Estimation
      $1,730,000
      11,198 SF

      80 Charlotte St

      DISTILLERY, BREWERY, BOTTLING • 11,198 SF
      80 Charlotte St, Asheville, NC 28801-2434
      View Details
    • Value Estimation
      $1,080,000
      8,280 SF

      23 Hamilton St

      DISTILLERY, BREWERY, BOTTLING • 8,280 SF
      23 Hamilton St, Asheville, NC 28801-4506
      View Details
    • Value Estimation by Request
      1,317 SF

      204 Patton Ave

      DISTILLERY, BREWERY, BOTTLING • 1,317 SF
      204 Patton Ave, Asheville, NC 28801-2606
      View Details
    • Value Estimation
      $1,135,000
      4,748 SF

      16 Liberty St

      DISTILLERY, BREWERY, BOTTLING • 4,748 SF
      16 Liberty St, Asheville, NC 28801-1823
      View Details
    • Value Estimation by Request
      980 SF

      231 Merrimon Ave

      DISTILLERY, BREWERY, BOTTLING • 980 SF
      231 Merrimon Ave, Asheville, NC 28801-1225
      View Details
    • Value Estimation
      $1,170,000
      5,500 SF

      264 Biltmore Ave

      DISTILLERY, BREWERY, BOTTLING • 5,500 SF
      264 Biltmore Ave, Asheville, NC 28801-4156
      View Details

    Similar Nearby for Sale

    • $5,675,000
      8,000 SF

      Brewery/Restaurant Space in Downtown Asheville

      Fully equipped brewery and restaurant in the heart of Asheville.
      39 N Lexington Ave, Asheville, NC 28801
      View Details
    • Contact for pricing

      Downtown Asheville Flex/Retail Space

      Flex/retail space with high visibility and dedicated parking.
      248 Biltmore Ave, Asheville, NC 28801
      View Details
    • $9,900,000
      53,909 SF

      Downtown Asheville Investment Opportunity

      Portfolio with 100% occupancy and fresh NNN leases.
      99999 Broadway St, Asheville, NC 28801
      View Details
    • Contact for pricing

      Downtown Asheville Vacant Land Opportunity

      Vacant lot in downtown Asheville's South Slope area.
      11 Collier Ave, Asheville, NC 28801
      View Details
    • Contact for pricing

      Historic Meadows Building in Downtown

      Historic building with redevelopment potential in vibrant downtown Asheville.
      114 N Lexington Ave, Asheville, NC 28801
      View Details
    • $3,776,500
      15,106 SF

      Downtown Asheville Medical Office Building

      Free-standing, two-level medical office building in Downtown Asheville.
      90 Asheland Ave, Asheville, NC 28801
      View Details

    Similar Nearby for Lease

    • $15,000 /Mo
      39,204 SF

      Downtown Asheville Restaurant/Brewery Opportunity

      Turn-key restaurant/brewery in Asheville's South Slope Brewery District.
      101 S Lexington Ave, Asheville, NC 28801
      View Details
    • $25 SF/Yr
      1,048 SF

      Downtown Asheville Retail Space Available

      Prime retail space in the heart of downtown Asheville.
      2-16 Eagle St, Asheville, NC 28801
      View Details
    • $1,600 /Mo

      Downtown Asheville Condo for Rent

      One bedroom, one bath condo in downtown Asheville.
      55 S Market St, Asheville, NC 28801
      View Details
    • $28 SF/Yr
      6,098 SF

      Downtown Asheville Office Space Available

      Second floor office space for lease in downtown Asheville.
      60 Biltmore Ave, Asheville, NC 28801
      View Details
    • $4,545 /Mo

      Downtown Asheville Office Space Available

      Office space in the historic Adler Building in downtown Asheville.
      9 Sw Pack Sq, Asheville, NC 28801
      View Details
    • $25 SF/Yr
      42,316 SF

      Downtown Asheville Office Space

      Prestigious Office Suites Available
      22 Pack Sq, Asheville, NC 28801
      View Details

    Property Visit Statistics

    • Visits by month
      13.6k
    • Visitors by month
      11.3k
    • Avg Time on site
      6 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    233 Biltmore Ave
    Asheville, NC 28801-4107
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.