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Property profile & analytics
OFF-MARKET
Estimated value
$11,015,000
Super regional malls
7 Tunl Rd Asheville, NC 28805
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1895289
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1989
Construction
BRICK
Total area
132,292 SF
Lot
6.24 ac (271,814 SF)
Zoning code
DEED DATE:12/15/2020 DEED
APN
9658-14-3261-00000
UPID
US53-1895289
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.01M
Blend (final)
Blend
$11.02M
Owner & transaction history
Penney Property Sub Holdings · 5 yrs held
Penney Property Sub Holdings
since 2020
4 recorded transactions
Zoning & alternative use
DEED DATE:12/15/2020 DEED · Asheville, NC
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
Blend value · Realmo final
$11.02M
Range $9.91M – $12.12M · ±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
$83 / 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
$33,481
Tax year 2024
Assessed value
$3,612,100
Assessed 2024
Previous assessed
$3,612,100
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$2,174,500
Improvement market value
$1,437,600
Total market value
$3,612,100
Applied tax rate
8.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1989
Construction
BRICK
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Total area
132,292 SF
Lot
6.24 ac (271,814 SF)
Zoning code
DEED DATE:12/15/2020 DEED
APN
9658-14-3261-00000
UPID
US53-1895289
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE:12/15/2020 DEED · Asheville, NCZoning DEED DATE:12/15/2020 DEED · permitted uses
DEED DATE:12/15/2020 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
Building & site characteristics
From public records
Year built
1989
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
6.24 ac
Current owner
From public records · entity-resolved
Penney Property Sub Holdings
Entity
Free & Clear · 5 yrs held
Mailing address
6501 S LEGACY DR STE B100, PLANO, TX 75024-4161
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
$1,621,500
Penney Property Sub Holdings
Jc Penney Properties
Grant Deed
—
Aug 11, 2016
—
J C Penney Properties INC
—
Deed
related
$500,000,000 · * Other Institutional Lenders
May 28, 2013
—
J C Penney Properties INC
—
Deed Of Trust
related
—
—
—
J C Penney Properties INC
—
Loan Modification
related
$500,000,000 · * Other Institutional Lenders
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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