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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Office buildings
29 Ravenscroft Dr Asheville, NC 28801-3649
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0759415
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1840
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,486 SF
Lot
0.69 ac (30,056 SF)
Zoning code
DEED DATE:05/26/2022 DEED
APN
9648-39-6100-00000
UPID
US53-0759415
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
-
Contact Robin Rea | Therapist, Psychotherapist Contact Form Medical Clinic
-
Indriso Nancy L DC Alternative Medicine Practice
-
Asheville DUI Guy Law Firm
-
Ravencroft Suites Business Service Center Corporate Office
-
McLaurin Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.37M
Owner & transaction history
29 Ravenscroft LLC · 4 yrs held
29 Ravenscroft LLC
since 2022
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
DEED DATE:05/26/2022 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+1.4%
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
$1,115,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,130,000
Current use
RETAIL STORES
$2,160,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,975,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10% · vs last sale $1.30M (May 26 2022)
Last sale anchor
$1.30M
May 26 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
$119 / 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
$7,580
Tax year 2024
Assessed value
$1,352,600
Assessed 2024
Previous assessed
$1,352,600
+0.0% YoY
Effective rate
0.56%
On assessed value
Land market value
$1,352,500
Improvement market value
$100
Total market value
$1,352,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1840
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
3
Bathrooms
9
Total area
11,486 SF
Lot
0.69 ac (30,056 SF)
Zoning code
DEED DATE:05/26/2022 DEED
APN
9648-39-6100-00000
UPID
US53-0759415
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:05/26/2022 DEED · Asheville, NC
Zoning DEED DATE:05/26/2022 DEED · permitted uses
DEED DATE:05/26/2022 DEED · 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
OFFICE BUILDING Current
Est. value
$2.1M
RETAIL STORES
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
OFFICE BUILDING Current
RETAIL STORES
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
1840
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
9
Lot
0.69 ac
Current owner
From public records · entity-resolved
29 Ravenscroft LLC
Entity
Mailing address
PO BOX 5474, ASHEVILLE, NC 28813-5474
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
$1,300,000
29 Ravenscroft LLC
Mtm Investments LLC
Special Warranty Deed
$400,000 · First Horizon Bank
Aug 9, 2017
—
Mtm Investments LLC
Brewster,harriett T & Roger P
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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