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Property profile & analytics
OFF-MARKET
Estimated value
$2,710,000
Strip malls
328 New Leicester Hwy Asheville, NC 28806-2018
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2094717
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Construction
BRICK
Total area
15,352 SF
Lot
5.37 ac (233,917 SF)
Zoning code
DEED DATE: 05/18/2005 DEE
APN
9629-33-0187-00000
UPID
US53-2094717
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
-
SEPT Physical Therapy Medical Clinic
-
Don pastel’s Bakery Specialty Food Shop
-
Ay Caramba! Restaurant
-
Soho Nail Spa Nail Salon
-
Asian Wok Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.71M
Blend (final)
Blend
$2.71M
Owner & transaction history
Leicester Land Hldgs Co LLC · 21 yrs held
Leicester Land Hldgs Co LLC
since 2005
3 recorded transactions
Zoning & alternative use
DEED DATE: 05/18/2005 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Auto repair, garage
$3.9M
+49.0%
Medical building
$3.5M
+31.2%
Commercial (general)
$3.3M
+24.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,640,000
Current use
AUTO REPAIR, GARAGE
$3,935,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$3,465,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,285,000
Change: +24% · Conversion: Easy
RETAIL STORES
$3,090,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$2,960,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$2.71M
Range $2.44M – $2.98M · ±10%
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
$177 / 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
$23,930
Tax year 2024
Assessed value
$2,581,700
Assessed 2024
Previous assessed
$2,066,900
+24.9% YoY
Effective rate
0.93%
On assessed value
Land market value
$1,277,200
Improvement market value
$1,304,500
Total market value
$2,581,700
Applied tax rate
6.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2008
Construction
BRICK
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
15,352 SF
Lot
5.37 ac (233,917 SF)
Zoning code
DEED DATE: 05/18/2005 DEE
APN
9629-33-0187-00000
UPID
US53-2094717
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 05/18/2005 DEE · Asheville, NCZoning DEED DATE: 05/18/2005 DEE · permitted uses
DEED DATE: 05/18/2005 DEE · Asheville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Chapter 7 DEVELOPMENT
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
RETAIL STORES
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE 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
2008
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
5.37 ac
Current owner
From public records · entity-resolved
Leicester Land Hldgs Co LLC
Entity
Free & Clear · 21 yrs held
Mailing address
421 WATERCREST CT, INMAN, SC 29349-6938
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
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
Jan 11, 2011
—
Leicester Land Holding Co LLC
—
Trustees Deed
related
$700,000 · Branch Banking & Trust Co
May 18, 2005
—
Leicester Land Hldgs Co LLC
Owner Name Unavailable
Grant Deed
—
Mar 16, 2004
—
Leicester Land Holding Co LLC
Ledford,robert L & Joan R
Warranty Deed
related
—
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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