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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Banks
711 Merrimon Ave Asheville, NC 28804-2414
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1574997
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1988
Construction
BRICK
Total area
5,071 SF
Lot
0.18 ac (7,841 SF)
Zoning code
DEED DATE: 2023-12-21 DEE
APN
9740-30-9633-00000
UPID
US53-1574997
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
-
ATM (Suntrust Bank) Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.09M
Owner & transaction history
Bank Ozk · 2 yrs held
Bank Ozk
since 2023
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
DEED DATE: 2023-12-21 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$905,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,300,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,220,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,145,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,020,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$980,000
Change: 0% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±10% · vs last sale $1.08M (Dec 21 2023)
Last sale anchor
$1.08M
Dec 21 2023
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
$214 / 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
$9,099
Tax year 2024
Assessed value
$880,700
Assessed 2024
Previous assessed
$880,700
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$215,600
Improvement market value
$665,100
Total market value
$880,700
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1988
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
1
Total area
5,071 SF
Lot
0.18 ac (7,841 SF)
Zoning code
DEED DATE: 2023-12-21 DEE
APN
9740-30-9633-00000
UPID
US53-1574997
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 2023-12-21 DEE · Asheville, NC
Zoning DEED DATE: 2023-12-21 DEE · permitted uses
DEED DATE: 2023-12-21 DEE · 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
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$980,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1988
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Bank Ozk
Entity
Free & Clear · 2 yrs held
Mailing address
18000 CANTRELL RD, LITTLE ROCK, AR 72223-9729
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2023
$1,082,500
Bank Ozk
Truist Bank
Special Warranty Deed
—
Dec 21, 2023
—
Bank Ozk
Truist Bank
Warranty Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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