New search
Property profile & analytics
FOR SALE
Office buildings
290 Biltmore Ave Asheville, NC 28801
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0614183
For Sale
1 / 3
$1,800,000
290 Biltmore Ave, Asheville, NC 28801
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,998 SF
Lot
0.8 ac (34,848 SF)
Zoning code
DEED DATE: 2022-02-01 DEE
APN
9648-46-4735-00000
UPID
US53-0614183
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$555k
Blend (final)
Blend
$665k
Owner & transaction history
272 Biltmore Development LLC · 4 yrs held
272 Biltmore Development LLC
since 2022
Last sale
$800,000
3 recorded transactions
Zoning & alternative use
DEED DATE: 2022-02-01 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$515,000
+38.7%
Auto repair, garage
$510,000
+38.4%
Medical building
$450,000
+21.9%
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
$685,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$660,000
6.5%
$610,000
7%
$565,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$515,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$510,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$450,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $800k (Feb 1 2022)
Last sale anchor
$800k
Feb 1 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
$333 / 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
$8,220
Tax year 2024
Assessed value
$795,700
Assessed 2024
Previous assessed
$795,700
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$658,600
Improvement market value
$137,100
Total market value
$795,700
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Total area
1,998 SF
Lot
0.8 ac (34,848 SF)
Zoning code
DEED DATE: 2022-02-01 DEE
APN
9648-46-4735-00000
UPID
US53-0614183
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2022-02-01 DEE · Asheville, NC
Zoning DEED DATE: 2022-02-01 DEE · permitted uses
DEED DATE: 2022-02-01 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
COMMERCIAL (GENERAL)
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$510,000
MEDICAL BUILDING
Est. value
$450,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
272 Biltmore Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2135 DANA AVE STE #200, CINCINNATI, OH 45207-1327
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$800,000
272 Biltmore Development LLC
Rival Properties LLC
Warranty Deed
—
Feb 18, 2016
$615,000
Rival Properties LLC
Matthews Ents Of Asheville INC
Warranty Deed
$650,250 · Bank Of Nc
—
—
Rival Properties LLC
—
Deed Of Trust
related
$1,500,000 · Pinnacle Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
