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Property profile & analytics
OFF-MARKET
Estimated value
$2,005,000
Office buildings
500 College St Asheville, NC 28801-2411
Trust Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1436426
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
BRICK
Total area
8,992 SF
Lot
0.65 ac (28,314 SF)
Zoning code
DEED DATE: 10/20/2003 DEE
APN
9649-61-7589-00000
UPID
US53-1436426
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
-
The McLennan-Hix Group - Morgan Stanley Financial Advisor
-
The Asheville Group - Morgan Stanley Financial Advisor
-
David B McAfoos - Morgan Stanley Financial Advisor
-
John A. Kramer - Morgan Stanley Financial Advisor
-
The Andry-Harris Group - Morgan Stanley Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$2.01M
Owner & transaction history
Beverly,george W JR Trust · 21 yrs held
Beverly,george W JR Trust
since 2005
1 recorded transaction
Zoning & alternative use
DEED DATE: 10/20/2003 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+38.7%
Auto repair, garage
$2.3M
+38.4%
Medical building
$2.0M
+21.9%
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
OFFICE BUILDING
$1,665,000
Current use
COMMERCIAL (GENERAL)
$2,310,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,305,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$2,030,000
Change: +22% · Conversion: Easy
RETAIL STORES
$1,690,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,545,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.01M
Range $1.80M – $2.21M · ±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
$223 / 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
$19,580
Tax year 2024
Assessed value
$1,747,000
Assessed 2024
Previous assessed
$1,747,000
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$991,000
Improvement market value
$756,000
Total market value
$1,747,000
Applied tax rate
1.0000
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
1984
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Total area
8,992 SF
Lot
0.65 ac (28,314 SF)
Zoning code
DEED DATE: 10/20/2003 DEE
APN
9649-61-7589-00000
UPID
US53-1436426
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 10/20/2003 DEE · Asheville, NC
Zoning DEED DATE: 10/20/2003 DEE · permitted uses
DEED DATE: 10/20/2003 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
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1984
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.65 ac
Current owner
From public records · entity-resolved
Beverly,george W JR Trust
Trust
Free & Clear · 21 yrs held
Mailing address
300 EXECUTIVE PARK, ASHEVILLE, NC 28801-2428
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2005
—
Beverly,george W JR Trust
Beverly-hanks Properties LLC
Quit Claim Deed
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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