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    Property profile & analytics
    OFF-MARKET Estimated value $1,090,000
    Auto shops

    240 Biltmore Ave, Asheville, NC 28801-4142

    6,300 SF 0.4 ac lot Built 1956
    Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US53-1276654
    Property summary
    AI-generated overview

    This exceptional 6,300-square-foot free-standing retail building boasts a highly visible location on Biltmore Avenue in the heart of downtown Asheville, Buncombe County. Previously used as an auto-service center, the property offers a flexible layout ideal for a variety of commercial uses. The building features four large roll-up garage doors, a welcoming lobby/reception area, a private office, ample storage space, and three restrooms. On-site parking is a significant advantage, complemented by prominent monument signage. A substantial rear outdoor area provides additional space and potential. The property's zoning is RB. Its strategic location provides easy access to Biltmore Avenue and is within walking distance of downtown Asheville's vibrant attractions, including the South Slope district and McCormick Field/Memorial Stadium (hosting 50 home games annually). The area is thriving, surrounded by numerous restaurants, breweries, and other retail establishments. The property benefits from high visibility and significant traffic volume, averaging 15,000 vehicles per day. Its proximity to the future Greenway and planned McCormick Field enhancements further enhances its long-term value and appeal. Showings are scheduled to begin July 1st, 2024. This is a rare opportunity to acquire a versatile, high-traffic retail space in one of Asheville's most desirable locations.

    Property profile
    Verified
    Property type Auto shops
    Use group AUTO REPAIR, GARAGE
    Year built 1956
    Construction STEEL FRAME
    Total area 6,300 SF
    Lot 0.4 ac (17,424 SF)
    Zoning code DEED DATE: 2023-06-16 DEE
    APN 9648-47-3492-00000
    UPID US53-1276654
    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
    • Jack Smith's Transmission & Automotive Service Auto Repair Shop
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.06M
    Blend (final) Blend
    $1.09M
    Owner & transaction history
    Mbw Development LLC · 3 yrs held
    Mbw Development LLC
    since 2023
    Last sale
    $1.4M
    2 recorded transactions
    2023
    $1.4M
    2004
    $395,000
    Zoning & alternative use
    DEED DATE: 2023-06-16 DEE · Asheville, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $1.6M +0.2%
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