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Property profile & analytics
OFF-MARKET
Estimated value
$1,280,000
Auto shops
248 Biltmore Ave, Asheville, NC 28801-4118
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0296341
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,325 SF
Lot
0.37 ac (16,117 SF)
Zoning code
DEED DATE: 2023-09-12 DEE
APN
9648-47-3153-00000
UPID
US53-0296341
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
-
UNITS Moving and Portable Storage of Asheville Moving Company Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.28M
Owner & transaction history
Mbw Development LLC · 2 yrs held
Mbw Development LLC
since 2023
Last sale
$1.2M
2 recorded transactions
Zoning & alternative use
DEED DATE: 2023-09-12 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,005,000
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
$1,880,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.41M · ±10% · vs last sale $1.20M (Sep 12 2023)
Last sale anchor
$1.20M
Sep 12 2023
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
$154 / 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
$8,509
Tax year 2024
Assessed value
$823,600
Assessed 2024
Previous assessed
$544,200
+51.3% YoY
Effective rate
1.03%
On assessed value
Land market value
$435,200
Improvement market value
$388,400
Total market value
$823,600
Applied tax rate
1.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
8,325 SF
Lot
0.37 ac (16,117 SF)
Zoning code
DEED DATE: 2023-09-12 DEE
APN
9648-47-3153-00000
UPID
US53-0296341
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-09-12 DEE · Asheville, NC
Zoning DEED DATE: 2023-09-12 DEE · permitted uses
DEED DATE: 2023-09-12 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
MEDICAL BUILDING
Est. value
$1.9M
MEDICAL 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
1931
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Mbw Development LLC
Entity
Mailing address
930 COUNTRY CLB RD, ASHEVILLE, NC 28804-2622
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2023
$1,200,000
Mbw Development LLC
Conch Republic Holdings LLC
Special Warranty Deed
$960,000 · Conch Republic Holdings LLC
Jan 15, 2014
$485,000
Conch Republic Holdings LLC
T&d Automotive Group INC
Warranty Deed
$365,000 · Macon Bank INC
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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