Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4 Tunl Rd Asheville, NC 28805-2237

    • Breweries
    • 3,375 SF
    • 0.39 lot acres
    OFF-MARKET
    Value Estimations
    $860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2048798
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by 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

    Property Details for 4 Tunl Rd

    Year built
    2011
    Construction
    BRICK
    Lot size
    0.39 lot acres
    Property size
    3,375 SF
    Zone code
    DEED DATE: 10/14/2014 DEE
    Property type
    Breweries
    APN
    9658-25-1638-00000
    APU
    965825163800000

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $857,000
      Market price range: $368k - $858k
      AI Estimate
      $857,000
      Market price range: $368k - $858k

    • 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.525
    Latitude
    35.5829
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,256
    $0.00
    $0.00
    $890,700
    -
    $526,600
    $364,100
    $890,700

    Comparable in this City

    • Value Estimation
      $24,155,000
      221,510 SF

      125 Bleachery Blvd

      DISTILLERY, BREWERY, BOTTLING • 221,510 SF
      125 Bleachery Blvd, Asheville, NC 28805-8209
      View Details
    • Value Estimation
      $1,230,000
      11,294 SF

      1380 Tunl Rd

      DISTILLERY, BREWERY, BOTTLING • 11,294 SF
      1380 Tunl Rd, Asheville, NC 28805-1602
      View Details
    • Value Estimation
      $1,170,000
      8,000 SF

      1340 Tunl Rd

      DISTILLERY, BREWERY, BOTTLING • 8,000 SF
      1340 Tunl Rd, Asheville, NC 28805-1602
      View Details
    • Value Estimation
      $2,290,000
      13,670 SF

      285 Tunl Rd

      DISTILLERY, BREWERY, BOTTLING • 13,670 SF
      285 Tunl Rd, Asheville, NC 28805-1832
      View Details
    • Value Estimation
      $2,090,000
      12,656 SF

      2 Riceville Rd

      DISTILLERY, BREWERY, BOTTLING • 12,656 SF
      2 Riceville Rd, Asheville, NC 28805-2146
      View Details
    • Value Estimation
      $645,000
      3,900 SF

      1295 Tunl Rd

      DISTILLERY, BREWERY, BOTTLING • 3,900 SF
      1295 Tunl Rd, Asheville, NC 28805-1628
      View Details

    Similar Nearby for Sale

    • $1,200,000
      8.87 Acres

      Asheville Land Development Opportunity

      8.87-acre residential development opportunity within Asheville city limits.
      67 Shawnee Trl, Asheville, NC 28805
      View Details
    • $2,900,000
      13,818 SF

      Asheville Retail Center Investment

      High-Yield, 100% Leased Property
      271 Tunnel Rd, Asheville, NC 28805
      View Details
    • $369,000
      28.89 Acres

      Asheville Land with Mountain Views

      28+ acre property near Asheville with established utilities.
      99999 Bull Creek Rd, Asheville, NC 28805
      View Details
    • $55,000
      1.12 Acres

      Asheville Land with Valley Views

      Gently sloping 1.12-acre lot with water rights and westerly views.
      99999 Shope Creek Estates Dr, Asheville, NC 28805
      View Details
    • $200,000
      0.63 Acres

      Asheville Land Subdivision Opportunity

      Level lot with subdivision potential in Asheville, North Carolina.
      99999 Campground Rd, Asheville, NC 28805
      View Details
    • $5,100,000
      130,500 SF

      3 S Tunnel Rd

      Former Department Store at Asheville Mall
      3 S Tunnel Rd, Asheville, NC 28805
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,808 SF

      Industrial Space Near I-240

      6,808 SF industrial space with dock doors near I-240.
      Asheville, NC 28805
      View Details
    • $15 SF/Yr

      New Construction Warehouse Space

      10,110 SF industrial/warehouse space in Asheville, NC for lease.
      1700 Tunnel Rd, Asheville, NC 28805
      View Details
    • Contact for pricing

      Commercial Land Near Downtown Asheville

      Commercial land for rent, 10 minutes from Downtown Asheville.
      40 South Tunnel Rd, Asheville, NC 28805
      View Details
    • Contact for pricing
      973,371 SF

      Asheville Food Court Opportunity

      Prime Asheville retail space, multiple units available.
      3 Tunnel Rd, Asheville, NC 28805
      View Details
    • $775,000

      Prime Commercial Land on US-70

      Flat, accessible 0.72 acre site on US-70 for lease.
      1480 Tunnel Rd, Asheville, NC 28805
      View Details
    • $25 SF/Yr

      High-Exposure Storefront on Tunnel Road

      Prime Asheville retail space with high visibility and traffic.
      244 Tunnel Rd, Asheville, NC 28805
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4 Tunl Rd
    Asheville, NC 28805-2237
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!