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Property profile & analytics
OFF-MARKET
Estimated value
$7,775,000
Commercial real estate
77 Central Ave Asheville, NC 28801-2443
Entity Owned
Free & Clear
Property ID
US53-2394111
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1998
Construction
BRICK
Total area
30,263 SF
Lot
1.38 ac (60,113 SF)
Zoning code
DEED DATE: 12/23/2003 DEE
APN
9649-52-1542-00000
UPID
US53-2394111
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
-
LiveWire Solution, LLC (Bike/Boat/Book/etc) Store Corporate Office
-
Bankers Insurance LLC Insurance Agency
-
Cogburn & Brazil PA Law Firm
-
Goosmann Rose Pa: Reed William K Law Firm
-
John R. Rose Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.77M
Blend (final)
Blend
$7.78M
Owner & transaction history
Grs Investments LLC
Grs Investments LLC
since 2026
7 recorded transactions
Zoning & alternative use
DEED DATE: 12/23/2003 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant
$11.3M
+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)
$7,775,000
Current use
RESTAURANT
$11,345,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,755,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$6,830,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$7.78M
Range $7.00M – $8.55M · ±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
$257 / 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
Applied tax rate
2.0000
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
1998
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
2
Total area
30,263 SF
Lot
1.38 ac (60,113 SF)
Zoning code
DEED DATE: 12/23/2003 DEE
APN
9649-52-1542-00000
UPID
US53-2394111
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 12/23/2003 DEE · Asheville, NCZoning DEED DATE: 12/23/2003 DEE · permitted uses
DEED DATE: 12/23/2003 DEE · 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
$7.8M
RESTAURANT
Est. value
$11.3M
AUTO REPAIR, GARAGE
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$6.8M
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
1998
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.38 ac
Current owner
From public records · entity-resolved
Grs Investments LLC
Entity
Free & Clear · 0 yrs held
Mailing address
77 PO BOX 7436TH AVE, ASHEVILLE, NC 28802-7436
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2026
—
Grs Investments LLC
Central Ave Professional Park Owner
Warranty Deed
—
Feb 22, 2023
$640,000
18 Hickory Hills LLC
Central Avenue LLC
Special Warranty Deed
$500,000 · Bank Of America NA
Feb 8, 2023
—
Kenneth Merritt II
—
Deed
related
$34,250 · Local Government FCU
Dec 9, 2022
$479,500
Vincent Investments LLC
Amarx Construction LLC
Warranty Deed
—
Jun 14, 2021
—
Central Avenue LLC
Tony Acquaviva
Deed
—
Jul 8, 2020
—
Anthony Acquaviva
—
Deed
related
$3,000,000 · Cjz Ventures LLC
Nov 7, 2019
$870,000
Firm Properties LLC
Central Avenue Professional Park Ll
Warranty Deed
$739,500 · First Citizens Bank & Trust Co
Nov 7, 2019
—
Grcc Investments LLC
Central Avenue Professional Park Ll
Warranty Deed
$1,275,000 · First Citizens Bank & Trust Co
May 4, 2018
—
Central Ave LLC
Acquaviva,tony
Warranty Deed
—
Apr 30, 2018
—
Robert D Mcallister
—
Deed
related
$100,000 · Elmira44 LLC
—
—
Robert D Mcallister
—
Deed Of Trust
related
$100,000 · Elmira44 LLC
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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