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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Breweries
4 Tunl Rd, Asheville, NC 28805-2237
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2048798
Property summary
AI-generated overview
This 130,000 square foot power center in Asheville, North Carolina, offers two available retail suites totaling 4,720 square feet. Located at 4 S Tunnel Rd, 28805, this prime location boasts high visibility on Tunnel Road, the region's top retail corridor, and proximity to I-240. The property benefits from a signalized main entrance and two points of ingress/egress, ensuring convenient access for customers. The center is well-maintained and features a strong tenant mix including Whole Foods, DSW, Guitar Center, Nadeau, Trek Bikes, Arhaus, and Hollywood Feed, creating a robust draw for shoppers. Individual suites range from 2,100 to 4,720 square feet, with the possibility of combining both spaces for a larger footprint. Built in 1972, this multi-tenant center is situated across from Asheville Mall, further enhancing its appeal and foot traffic. The property is located in Buncombe County and offers excellent visibility and accessibility. This is an exceptional opportunity for retailers seeking a high-traffic location in a thriving market. Minimum divisible space is 2,100 square feet.
Property profile
Verified
Property type
Breweries
Use group
DISTILLERY, BREWERY, BOTTLING
Year built
2011
Construction
BRICK
Total area
3,375 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DEED DATE: 10/14/2014 DEE
APN
9658-25-1638-00000
UPID
US53-2048798
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
-
Hollywood Feed (Bike/Boat/Book/etc) Store Pet Store
-
Mountain Running Company - Asheville Clothing & Fashion Store
-
10th Muse Too Grocery & Convenience Store Specialty Food Shop
-
Tesla Supercharger Electric Vehicle Charging Station
-
Arhaus Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$858k
Blend (final)
Blend
$860k
Owner & transaction history
Phoenix Ashville South LLC · 11 yrs held
Phoenix Ashville South LLC
since 2014
5 recorded transactions
Zoning & alternative use
DEED DATE: 10/14/2014 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$865,000
+58.5%
Commercial (general)
$815,000
+49.0%
Medical building
$760,000
+39.6%
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
DISTILLERY, BREWERY, BOTTLING
$545,000
Current use
AUTO REPAIR, GARAGE
$865,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$815,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$760,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$680,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$650,000
Change: +19% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$580,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±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
$255 / 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
$8,256
Tax year 2024
Assessed value
$890,700
Assessed 2024
Previous assessed
$890,700
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$526,600
Improvement market value
$364,100
Total market value
$890,700
Applied tax rate
8.0000
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
Breweries
Use group
DISTILLERY, BREWERY, BOTTLING
Status
Off-Market
Year built
2011
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
1
Total area
3,375 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DEED DATE: 10/14/2014 DEE
APN
9658-25-1638-00000
UPID
US53-2048798
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 10/14/2014 DEE · Asheville, NC
Zoning DEED DATE: 10/14/2014 DEE · permitted uses
DEED DATE: 10/14/2014 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
DISTILLERY, BREWERY, BOTTLING Current
Est. value
$545,000
AUTO REPAIR, GARAGE
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$815,000
MEDICAL BUILDING
Est. value
$760,000
RETAIL STORES
Est. value
$680,000
OFFICE BUILDING
Est. value
$650,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$580,000
DISTILLERY, BREWERY, BOTTLING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
2011
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Phoenix Ashville South LLC
Entity
Free & Clear · 11 yrs held
Mailing address
464 HERITAGE RD STE F, SOUTHBURY, CT 06488-3863
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2014
$2,900,000
Phoenix Ashville South LLC
Grace Ridge Of Asheville LLC
Grant Deed
—
Oct 14, 2014
—
Phoenix Ashville South LLC
Grace Ridge Of Asheville LLC
Quit Claim Deed
related
$2,030,000 · Bankwell Bank
Mar 8, 2012
$2,696,000
Grace Ridge Of Asheville LLC
Center At Tunnel Road LLC
Grant Deed
$2,170,442 · Truliant FCU
Apr 28, 2011
—
Center At Tunnel Road LLC
E & B Schlesinger Family LP
Quit Claim Deed
related
$1,950,000 · Commercial Bank
Apr 28, 2011
$925,000
Center At Tunnel Road LLC
E & B Schlesinger Family LP
Warranty 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.
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