FOR LEASE
Commercial land
Property ID
US53-2163101
Entity Owned Owner of record is a legal entity (LLC / corporation).
Absentee Owner Owner mailing address differs from the property address.
Free & Clear No active or open recorded mortgage detected.
Entity Owned 
For Lease
1 / 3
$520,000
40 South Tunnel Rd, Asheville, NC 28805
View Listing
Property summary
AI-generated overview
The property is a commercial land parcel located approximately 10 minutes southeast of Downtown Asheville along a retail corridor. The parcel number is 965824791800000, and it is zoned in the Urban Place (UP) district.
Ownership intelligence
Who controls the opportunity?
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Can we reach the decision maker?
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
What is owed, to whom, and when it comes due
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2024
What does the county charge?
$9k
Tax billed · 2024
Assessed value$999k
Effective rate0.93%
Value estimate
· Sep 2026$520k
$468k – $572k
Sales comparison$520k
Realmo valuation models over county records and 3 qualifying comparable sales.
Recently sold
What actually traded nearby?
$241/SF
Submarket average, outlier-cleaned · 228 recorded sales of this use type
Observed band · Q1–Q3$120 – $409
Qualifying comparables3
Cap rate analysis
How does the asset earn?
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
What can be built here?
DEED DATE: 07/09/1993 DEE
JurisdictionBUNCOMBE
Location intelligence
Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency23.5
Law Firm23.1
Dental Office17.8
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
✓ County assessor
– Recorded deeds · not on file
✓ 3 qualifying comp sales
✓ Zoning catalog
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
3 recorded sales · 16 properties nearbyRecent sales nearby
3 recorded sales in this ZIP, last 8 years
Address
Sale price
Sold
Size
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Comparable nearby
Similar in This City for Sale
Similar in This City for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
1 alternative use screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$520k
Value range
$468k – $572k
±10% around blend
Estimated value / SF
$409 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
30
$468k
blend $520k
$572k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
- GBA
- 1,270 SF
- Lot area
- 0.74 ac
- Year built
- 1993
- Stories
- 1
- APN
- 9658-24-7918-00000
- Zoning
- DEED DATE: 07/09/1993 DEE
- Assessed value · 2024
- $999,300
- Annual tax · 2024
- $9,263
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Comparable sales
Partial preview
Comparables picked and weighted for this valuation. The Overview tab lists recorded sales nearby as our records hold them, unweighted and unselected, so the two do not have to agree.
Sales approach indication
$525k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale date
Sale price
$ / SF
2.2 mi away · 1,100 SF
18.3 mi away · 1,127 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$520k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)
Average
Subject delta
Submarket 228 sales
$241
+70%
County 304 sales
$223
+83%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $409/SF.
Delta below average reads as headroom.
Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+6%
vs current use, $305k
- Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 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. Any figures below are a modeled what-if, not an implied cap rate.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$999k
Move the market yield to see immediate price impact.
Value / SF
$787
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%
$63k
$1.26M
$899k
$700k
$70k
$1.40M
$999k
$777k
$77k
$1.54M
$1.10M
$855k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$475k
2.2 mi · Apr 2026 · $421/SF
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Building & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Year built
1993
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
1,270 SF
Lot
0.74 ac (32,234 SF)
Zoning code
DEED DATE: 07/09/1993 DEE
APN
9658-24-7918-00000
UPID
US53-2163101
Jurisdiction
BUNCOMBE
Property tax & assessments
Tax year 2024
Tax billed
$9,263
Assessed value
$999,300
Assessed 2024
Previous assessed
$1,128,800
-11.5% YoY
Effective rate
0.93%
On assessed value
Land market value
$999,300
Total market value
$999,300
Applied tax rate
8.0000
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
Jurisdiction
Asheville, NC
Recorded code
DEED DATE: 07/09/1993 DEE
Codes and permitted uses for this address
Registration is required before the official district profile is shown.
Owner Contacts
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
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 · 30 · 300 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.
Mortgages · part of Ownership Intelligence
See what the owner owes, and when it comes due.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
What opens after registration
Ownership report
Recorded loansLender, amount and origination for every instrument
Estimated maturityWhen the debt comes due and the refi window opens
Rates & liensRecorded or estimated rate, junior liens flagged
CollateralWhich holding secures each loan - this property marked
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 · 30 · 300 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?”
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- Alternative use
- Local Zoning Insight
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