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Property profile & analytics
OFF-MARKET
Estimated value
$28,425,000
Commercial real estate
68 Patton Ave Asheville, NC 28801-3312
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0146070
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1974
Construction
TILT-UP CONCRETE
Total area
68,109 SF
Lot
0.28 ac (12,197 SF)
Zoning code
DEED DATE:12/17/2019 DEED
APN
9649-30-5174-00000
UPID
US53-0146070
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 Rise Coffee Bar Cafe & Coffee Shop
-
Junior Achievement of Western North Carolina Inc Charitable Organization Social Service Agency
-
The Restoration Asheville Hotel & Motel
-
The Exchange Restaurant & Bar Restaurant
-
The Draftsman Bar + Lounge Asheville Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.42M
Blend (final)
Blend
$28.43M
Owner & transaction history
Restoration Asheville LLC · 6 yrs held
Restoration Asheville LLC
since 2019
7 recorded transactions
Zoning & alternative use
DEED DATE:12/17/2019 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant
$25.5M
+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)
$17,500,000
Current use
RESTAURANT
$25,530,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,455,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$28.43M
Range $25.58M – $31.27M · ±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
$249,563
Tax year 2024
Assessed value
$22,266,500
Assessed 2024
Previous assessed
$13,009,600
+71.2% YoY
Effective rate
1.12%
On assessed value
Land market value
$1,516,000
Improvement market value
$20,750,500
Total market value
$22,266,500
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1974
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
7
Total area
68,109 SF
Lot
0.28 ac (12,197 SF)
Zoning code
DEED DATE:12/17/2019 DEED
APN
9649-30-5174-00000
UPID
US53-0146070
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:12/17/2019 DEED · Asheville, NCZoning DEED DATE:12/17/2019 DEED · permitted uses
DEED DATE:12/17/2019 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
$17.5M
RESTAURANT
Est. value
$25.5M
AUTO REPAIR, GARAGE
Est. value
$17.5M
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
1974
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
7
Lot
0.28 ac
Current owner
From public records · entity-resolved
Restoration Asheville LLC
Entity
Free & Clear · 6 yrs held
Mailing address
3825 EDWARDS RD STE #200, CINCINNATI, OH 45209-1288
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2020
—
Restoration Asheville LLC
—
Deed Of Trust
related
$27,840,000 · Central Bk
Dec 17, 2019
—
Restoration Asheville LLC
Mrk 68 Patton Asheville LLC
Quit Claim Deed
related
—
Dec 17, 2019
$65,300
Restoration Asheville LLC
Mrk 68 Patton Asheville LLC
Special Warranty Deed
$4,750,000 · Central Bank & Trust Co
May 5, 2017
—
Mrk Washington Ave LLC
—
Deed
related
$5,500,000 · Carolina Trust Bank
May 17, 2016
—
Mrk Washington Avenue LLC
—
Deed
related
$4,600,000 · Carolina Trust Bank
Feb 11, 2014
$3,248,500
Mrk Washington Avenue LLC
First States Invtrs 4100b LP
Grant Deed
—
Mar 2, 2012
—
First States Invtrs 4100b LP
—
Deed Of Trust
related
$250,000,000 · Goldman Sachs Mortgage Co
Nov 25, 2003
$1,633,000
First States Inv
Prefco,realt III
Trustees 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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