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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Warehouses
46 New Leicester Hwy, Asheville, NC 28806-2719
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-0188385
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1986
Construction
STEEL FRAME
Total area
7,668 SF
Lot
0.87 ac (37,897 SF)
Zoning code
DEED DATE:05/14/2019 DEED
APN
9628-98-6888-00000
UPID
US53-0188385
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
-
IBEW Local Union 238 Advocacy Group
-
Asheville Electrical JATC Building Supply Electrical Service
-
Aqua Environmental Resource Environmental Consultant
-
Aqua Pro High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$672k
Blend (final)
Blend
$670k
Owner & transaction history
Local Union 238 Of Intl Brotherhood · 7 yrs held
Local Union 238 Of Intl Brotherhood
since 2019
7 recorded transactions
Zoning & alternative use
DEED DATE:05/14/2019 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
WAREHOUSE, STORAGE
$965,000
Current use
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$87 / 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
$4,340
Tax year 2024
Assessed value
$420,100
Assessed 2024
Previous assessed
$420,100
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$219,500
Improvement market value
$200,600
Total market value
$420,100
Applied tax rate
6.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
7,668 SF
Lot
0.87 ac (37,897 SF)
Zoning code
DEED DATE:05/14/2019 DEED
APN
9628-98-6888-00000
UPID
US53-0188385
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:05/14/2019 DEED · Asheville, NC
Zoning DEED DATE:05/14/2019 DEED · permitted uses
DEED DATE:05/14/2019 DEED · 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
WAREHOUSE, STORAGE Current
Est. value
$965,000
WAREHOUSE, STORAGE Current
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
1986
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Local Union 238 Of Intl Brotherhood
Individual
Mailing address
46 NEW LEICESTER HWY, ASHEVILLE, NC 28806-2719
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2019
$390,000
Local Union 238 Of Intl Brotherhood
Janice Hessling
Warranty Deed
$225,000 · United FCU
Sep 19, 2016
$281,000
Janice Hessling
First Troy Spe LLC
Special Warranty Deed
$224,800 · Asheville Savings Bank Ssb
Apr 28, 2016
$288,000
First Troy Spe LLC
Brock Law Firm PLLC|46 Leicester Highway LLC
Foreclosure
related
—
May 11, 2005
—
46 Leicester Highway LLC
—
Trustees Deed
related
$436,000 · Bank Of Asheville
Oct 4, 2004
$300,000
46 Leicester Highway LLC
Maple Cove Holdings LLC
Warranty Deed
$270,000 · Bank Of Asheville
Apr 2, 2002
—
Maple Cove Holdings LLC
Livengood,charle
Grant Deed
related
—
—
—
46 Leicester Highway LLC
—
Loan Modification
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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