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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Office buildings
5 Ravenscroft Dr Asheville, NC 28801-3679
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1289921
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1929
Construction
BRICK
Total area
12,864 SF
Lot
0.15 ac (6,534 SF)
Zoning code
DEED DATE: 2022-07-07 DEE
APN
9648-39-6269-00000
UPID
US53-1289921
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
-
Luce Beagle Counselor
-
Jamie Rischitelli Foster Care Service Social Service Agency
-
William Ray Foster Care Service Social Service Agency
-
dark to light counseling Crisis Center Medical Clinic
-
Mr. Russell Murray Counselor Practitioner Service Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$1.87M
Owner & transaction history
37 Majestic LLC · 4 yrs held
37 Majestic LLC
since 2022
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
DEED DATE: 2022-07-07 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.9M
+21.9%
Retail stores
$2.4M
+1.4%
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
$1,715,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,385,000
Current use
MEDICAL BUILDING
$2,905,000
Change: +22% · Conversion: Easy
RETAIL STORES
$2,415,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,215,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10% · vs last sale $2.00M (Jul 7 2022)
Last sale anchor
$2.00M
Jul 7 2022
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
$145 / 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
$17,619
Tax year 2024
Assessed value
$1,572,000
Assessed 2024
Previous assessed
$1,572,000
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$392,000
Improvement market value
$1,180,000
Total market value
$1,572,000
Applied tax rate
4.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1929
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
3
Total area
12,864 SF
Lot
0.15 ac (6,534 SF)
Zoning code
DEED DATE: 2022-07-07 DEE
APN
9648-39-6269-00000
UPID
US53-1289921
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2022-07-07 DEE · Asheville, NC
Zoning DEED DATE: 2022-07-07 DEE · permitted uses
DEED DATE: 2022-07-07 DEE · 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
OFFICE BUILDING Current
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1929
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
37 Majestic LLC
Entity
Mailing address
15 PARK PL W, BREVARD, NC 28712-3080
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jul 7, 2022
$2,000,000
37 Majestic LLC
5 Ravens LLC
Special Warranty Deed
$1,200,000 · Southern First Bank NA
Jan 18, 2018
—
5 Ravens LLC
—
Deed
related
$910,637 · Donald R Davis
Sep 4, 2015
$1,040,000
5 Ravens LLC
The Spiritual Assembly Of The Baha
Warranty Deed
$500,000 · Pnc Bank NA
—
—
Spiritual Assembly Of Bahais/ash
—
Deed Of Trust
related
$578,665 · Asheville Savings Bank
—
—
Spiritual Assembly Of Baha'is
—
Deed Of Trust
related
$375,000 · Asheville Savings Bank
—
—
5 Ravens LLC
—
Deed Of Trust
related
$910,637 · Donald R Davis
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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