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Property profile & analytics
OFF-MARKET
Estimated value
$8,860,000
Commercial real estate
534 Biltmore Ave Asheville, NC 28801-4610
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1683825
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1994
Total area
34,656 SF
Lot
2.17 ac (94,525 SF)
Zoning code
DEED DATE:01/31/2019 DEED
APN
9648-53-6533-00000
UPID
US53-1683825
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
-
Dr. Jeffrey G. Adams, MD Physician Medical Clinic
-
CarePartners Outpatient Rehabilitation Biltmore Clinic – Asheville Home Health Care Service
-
Dr. Walter J. Brown III, MD Physician Medical Clinic
-
Dr. Frank S. Jagoda, MD Physician Medical Clinic
-
Carepartners Rehabilitation Rehabilitation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.86M
Blend (final)
Blend
$8.86M
Owner & transaction history
MH MISSION HOSPITAL LLLP
MH MISSION HOSPITAL LLLP
Zoning & alternative use
DEED DATE:01/31/2019 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant
$13.0M
+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)
$8,905,000
Current use
RESTAURANT
$12,990,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,880,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$7,820,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$8.86M
Range $7.97M – $9.75M · ±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
$256 / 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
$58,821
Tax year 2024
Assessed value
$5,693,600
Assessed 2024
Previous assessed
$5,693,600
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$1,985,000
Improvement market value
$3,708,600
Total market value
$5,693,600
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
1994
Heating
NONE
Stories
2
Total area
34,656 SF
Lot
2.17 ac (94,525 SF)
Zoning code
DEED DATE:01/31/2019 DEED
APN
9648-53-6533-00000
UPID
US53-1683825
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:01/31/2019 DEED · Asheville, NCZoning DEED DATE:01/31/2019 DEED · permitted uses
DEED DATE:01/31/2019 DEED · 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
$8.9M
RESTAURANT
Est. value
$13.0M
AUTO REPAIR, GARAGE
Est. value
$8.9M
MEDICAL BUILDING
Est. value
$7.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1994
Heating
NONE
Stories
2
Lot
2.17 ac
Current owner
From public records · entity-resolved
MH MISSION HOSPITAL LLLP
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 80610, INDIANAPOLIS, IN 46280-0610
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
No recorded transactions
No recorded transactions found for this property.
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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