Entity Owned Property summary
AI-generated overview
This exceptional commercial condominium investment opportunity is located in Asheville's vibrant Central Business District (CBD). Situated at street level within a 42-unit residential condominium building, this property offers a secure and stable income stream. The current tenant, a food service establishment, is under a long-term lease extending until 2027, with a three-year option to renew. This provides significant lease stability and predictable cash flow for the investor. The property boasts a strong 7.25% capitalization rate, representing an attractive return on investment in the thriving Asheville market. The specific square footage is not currently available. This is an ideal opportunity for investors seeking a low-maintenance, high-return commercial property in a prime Asheville location. The property's street-level accessibility ensures high visibility and convenient access for customers. Given the long-term lease and strong cap rate, this investment presents a compelling opportunity for passive income generation in a desirable and growing market. The property is located at 45 Asheland Avenue, Unit 101, Asheville, NC. The asking price is $595,000.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
75,237 SF
Lot
0.41 ac (17,860 SF)
Zoning code
DEED DATE:08/18/2016 DEED
APN
9648-29-8566-00000
UPID
US53-4781390
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
-
Restaurant
-
Condominium Complex
-
Real Estate Agency
-
Dental Office
-
Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.33M
Blend (final)
Blend
$1.18M
Owner & transaction history
since 2021
7 recorded transactions
Zoning & alternative use
DEED DATE:08/18/2016 DEED · Asheville, NC
Top alternative use upside
Restaurant
$28.2M
+45.9%
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 3 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.18M
Value range
$1.06M – $1.29M
±10% around blend
Estimated value / SF
$16 / SF
Confidence
Low
3 county-verified comps
Property data
63
Market benchmarks
100
Comparable evidence
30
$1.06M
blend $1.18M
$1.29M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
75,237 SF
Lot area
0.41 ac
Year built
2018
Stories
1
APN
9648-29-8566-00000
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
$17.14M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.6 mi away · 55,728 SF
7.8 mi away · 86,128 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.18M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 78 sales
$257
-94%
Submarket 228 sales
$241
-94%
County 304 sales
$223
-93%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $16/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
+46%
vs current-use indication
Commercial (general) · current use
Auto Repair, Garage
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
Not available
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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 · 3 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$1.18M
Move the market yield to see immediate price impact.
Value / SF
$16
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%
$74k
$1.48M
$1.06M
$823k
$82k
$1.65M
$1.18M
$914k
$90k
$1.81M
$1.29M
$1.01M
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
$8.34M
5.2 mi · Apr 2026 · $136/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Total area
75,237 SF
Lot
0.41 ac (17,860 SF)
Zoning code
DEED DATE:08/18/2016 DEED
APN
9648-29-8566-00000
UPID
US53-4781390
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:08/18/2016 DEED · Asheville, NCZoning DEED DATE:08/18/2016 DEED · permitted uses
DEED DATE:08/18/2016 DEED · 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
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.41 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:08/18/2016 DEED
Jurisdiction
Asheville, NC
Recorded code
DEED DATE:08/18/2016 DEED
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for DEED DATE:08/18/2016 DEED 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 45 Asheland 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.
