Entity Owned Property summary
AI-generated overview
This stunning three-story, 13,400 square foot mixed-use building is located in Asheville's vibrant Grove Arcade district. Constructed of concrete and steel in 1953, the property features two street-level access points and boasts a prime location across from the historic Grove Arcade, a Cambria hotel, and a public parking garage. The building currently houses four tenants: two street-level retailers on Battery Park Avenue, one retailer on Wall Street, and a second-floor luxury apartment with a steel balcony overlooking Wall Street. Additionally, a third-floor live/work unit offers a unique opportunity. The property sits on a 0.11-acre lot (APN 9649-30-1374-00000) and is zoned CBD. With five units in total, this multi-tenant property offers significant income potential and is easily adaptable for single-tenant use. The asking price is $3,800,000, translating to $283.58 per square foot. This exceptional investment opportunity is situated in a highly walkable area surrounded by Asheville's finest hotels, restaurants, and shops. Don't miss this chance to own a piece of Asheville's thriving downtown core.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
BRICK
Total area
12,128 SF
Lot
0.11 ac (4,792 SF)
Zoning code
DEED DATE: 04/22/2014 DEE
APN
9649-30-1374-00000
UPID
US53-1681556
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$2.85M
Owner & transaction history
since 2025
Last sale
$3.3M
4 recorded transactions
Zoning & alternative use
DEED DATE: 04/22/2014 DEE · Asheville, NC
Top alternative use upside
Restaurant
$4.5M
+99.5%
Commercial (general)
$3.1M
+36.8%
Auto repair, garage
$3.1M
+36.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.85M
Value range
$2.56M – $3.13M
±10% around blend
Estimated value / SF
$235 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
40
$2.56M
blend $2.85M
$3.13M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,128 SF
Lot area
0.11 ac
Year built
1953
Stories
2
APN
9649-30-1374-00000
Zoning
DEED DATE: 04/22/2014 DEE
Assessed value
$2,331,500
Annual tax
$26,131
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$6.73M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.2 mi away · 10,880 SF
0.4 mi away · 11,552 SF
17.1 mi away · 9,504 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.85M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 18 sales
$188
+25%
Submarket 28 sales
$201
+17%
County 41 sales
$203
+16%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $235/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+100%
vs current-use indication
Commercial (general)
Auto Repair, Garage
Medical Building
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.35M
Move the market yield to see immediate price impact.
Value / SF
$276
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$211k
$4.22M
$3.01M
$2.34M
$234k
$4.69M
$3.35M
$2.60M
$258k
$5.16M
$3.68M
$2.86M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$1.36M
0.2 mi · Nov 2025 · $96/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$26,131
Tax year 2024
Assessed value
$2,331,500
Assessed 2024
Previous assessed
$2,331,500
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$694,800
Improvement market value
$1,636,700
Total market value
$2,331,500
Applied tax rate
3.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Units
2
Total area
12,128 SF
Lot
0.11 ac (4,792 SF)
Zoning code
DEED DATE: 04/22/2014 DEE
APN
9649-30-1374-00000
UPID
US53-1681556
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 04/22/2014 DEE · Asheville, NCZoning DEED DATE: 04/22/2014 DEE · permitted uses
DEED DATE: 04/22/2014 DEE · Asheville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1953
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Lot
0.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
DEED DATE: 04/22/2014 DEE
Jurisdiction
Asheville, NC
Recorded code
DEED DATE: 04/22/2014 DEE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for DEED DATE: 04/22/2014 DEE in Asheville, NC.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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?”
You own 38 Battery Park Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
