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Property profile & analytics
OFF-MARKET
Estimated value
$28,995,000
Commercial real estate
51 Biltmore Ave Asheville, NC 28801-3626
Entity Owned
Absentee Owner
Property ID
US53-2594241
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2011
Construction
BRICK
Total area
69,472 SF
Zoning code
DEED DATE: 02/17/2011 DEE
APN
9648-49-3593-C0001
UPID
US53-2594241
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
-
Aloft Asheville Downtown Hotel & Motel
-
W XYZ Bar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.99M
Blend (final)
Blend
$29.00M
Owner & transaction history
Mhg Asheville Al LP
Mhg Asheville Al LP
1 recorded transaction
Zoning & alternative use
DEED DATE: 02/17/2011 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant
$26.0M
+45.9%
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
COMMERCIAL (GENERAL)
$17,850,000
Current use
RESTAURANT
$26,040,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,805,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$29.00M
Range $26.10M – $31.89M · ±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
$417 / 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
$329,683
Tax year 2024
Assessed value
$29,415,000
Assessed 2024
Previous assessed
$29,415,000
+0.0% YoY
Effective rate
1.12%
On assessed value
Improvement market value
$29,415,000
Total market value
$29,415,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2011
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
1
Total area
69,472 SF
Zoning code
DEED DATE: 02/17/2011 DEE
APN
9648-49-3593-C0001
UPID
US53-2594241
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 02/17/2011 DEE · Asheville, NCZoning DEED DATE: 02/17/2011 DEE · permitted uses
DEED DATE: 02/17/2011 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
COMMERCIAL (GENERAL) Current
Est. value
$17.9M
RESTAURANT
Est. value
$26.0M
AUTO REPAIR, GARAGE
Est. value
$17.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
2011
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Mhg Asheville Al LP
Entity
Mailing address
402 WASHINGTON ST SE #200, GAINESVILLE, GA 30501-3619
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Mhg Asheville Al LP
—
Deed Of Trust
related
$25,000,000 · Metlife R/e Lndg LLC
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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