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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Strip malls
5 Elkmont Pl Asheville, NC 28804-1251
Entity Owned
12-yr Hold
Free & Clear
Property ID
US53-0864529
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
STEEL FRAME
Total area
3,600 SF
Lot
1.13 ac (49,223 SF)
Zoning code
DEED DATE: 08/02/2013 DEE
APN
9731-60-5320-00000
UPID
US53-0864529
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$871k
Blend (final)
Blend
$870k
Owner & transaction history
Grassy Creek Investments LLC · 12 yrs held
Grassy Creek Investments LLC
since 2013
6 recorded transactions
Zoning & alternative use
DEED DATE: 08/02/2013 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Auto repair, garage
$925,000
+49.0%
Commercial (general)
$870,000
+40.1%
Medical building
$815,000
+31.2%
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
NEIGHBORHOOD: SHOPPING CENTER
$620,000
Current use
AUTO REPAIR, GARAGE
$925,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$870,000
Change: +40% · Conversion: Easy
MEDICAL BUILDING
$815,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$725,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$695,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$870k
Range $783k – $957k · ±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
$242 / 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
$8,320
Tax year 2024
Assessed value
$829,200
Assessed 2024
Previous assessed
$829,200
+0.0% YoY
Effective rate
1.00%
On assessed value
Land market value
$467,600
Improvement market value
$361,600
Total market value
$829,200
Applied tax rate
22.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
4
Stories
1
Bathrooms
1
Total area
3,600 SF
Lot
1.13 ac (49,223 SF)
Zoning code
DEED DATE: 08/02/2013 DEE
APN
9731-60-5320-00000
UPID
US53-0864529
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 08/02/2013 DEE · Asheville, NCZoning DEED DATE: 08/02/2013 DEE · permitted uses
DEED DATE: 08/02/2013 DEE · Asheville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Chapter 7 DEVELOPMENT
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$620,000
AUTO REPAIR, GARAGE
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$870,000
MEDICAL BUILDING
Est. value
$815,000
RETAIL STORES
Est. value
$725,000
OFFICE BUILDING
Est. value
$695,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1989
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Bathrooms
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Grassy Creek Investments LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 7053, ASHEVILLE, NC 28802-7053
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2013
—
Grassy Creek Investments LLC
Gift Security LLC
Warranty Deed
—
May 31, 2006
$2,150,000
Grassy Creek Investments LLC
Corbin,j V
Grant Deed
—
—
—
Grassy Creek Investments LLC
—
Deed Of Trust
related
$1,250,000 · Carolina First Bank
—
—
Grassy Creek Investments LLC
—
Deed Of Trust
related
$1,140,000 · Bank Of North Carolina
—
—
Grassy Creek Investments LLC
—
Deed Of Trust
related
$1,150,000 · Asheville Svgs Bk
—
—
Eva L Hartman
—
Deed Of Trust
related
$195,000 · Ame Financial Corp
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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