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Property profile & analytics
OFF-MARKET
Estimated value
$5,535,000
Hotels
51 Market St E304, Asheville, NC 28801-3756
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1620925
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1923
Construction
BRICK
Total area
18,800 SF
Lot
0.24 ac (10,454 SF)
Zoning code
DEED DATE:12/23/2014 DEED
APN
9648-49-8860-00000
UPID
US53-1620925
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 Foundry Hotel Asheville, Curio Collection by Hilton Hotel & Motel
-
Workshop Lounge Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.53M
Blend (final)
Blend
$5.54M
Owner & transaction history
Asheville Foundry Lnn LLC · 2 yrs held
Asheville Foundry Lnn LLC
since 2023
5 recorded transactions
Zoning & alternative use
DEED DATE:12/23/2014 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.0M
+38.9%
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
HOTEL/MOTEL
$5,070,000
Current use
RESTAURANT
$7,045,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,830,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,820,000
Change: -5% · Conversion: Difficult
MEDICAL BUILDING
$4,245,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.54M
Range $4.98M – $6.09M · ±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
$294 / 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
$48,923
Tax year 2024
Assessed value
$4,771,000
Assessed 2024
Previous assessed
$4,771,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$710,900
Improvement market value
$4,060,100
Total market value
$4,771,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1923
Construction
BRICK
Heating
NONE
Buildings
2
Stories
4
Total area
18,800 SF
Lot
0.24 ac (10,454 SF)
Zoning code
DEED DATE:12/23/2014 DEED
APN
9648-49-8860-00000
UPID
US53-1620925
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:12/23/2014 DEED · Asheville, NC
Zoning DEED DATE:12/23/2014 DEED · permitted uses
DEED DATE:12/23/2014 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
HOTEL/MOTEL Current
Est. value
$5.1M
RESTAURANT
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.2M
HOTEL/MOTEL Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL 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
1923
Construction
BRICK
Heating
NONE
Stories
4
Buildings
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Asheville Foundry Lnn LLC
Entity
Free & Clear · 2 yrs held
Mailing address
109 WAPPOO CRK DR STE 3B, CHARLESTON, SC 29412-2164
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2023
—
Asheville Foundry Lnn LLC
Asheville Foundry Inn Parking LLC
Lease
—
May 29, 2018
—
Asheville Foundry Inn LLC
City Of Asheville
Quit Claim Deed
—
Feb 6, 2017
—
Asheville Foundry Inn LLC
—
Grant Deed
related
$17,400,000 · Branch Bk&tr
Dec 23, 2014
$3,500,000
Asheville Foundry Inn LLC
Mt Zion Missionary Baptist Ch/
Grant Deed
—
—
—
Mt Zion Missionary Baptist Chu
—
Deed Of Trust
related
$81,000 · John Grant
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.
Try Rey
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