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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Office buildings
8 Herman Ave Ext Asheville, NC 28803-9111
Trust Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0607290
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
BRICK
Total area
2,520 SF
Lot
0.07 ac (3,049 SF)
Zoning code
DEED DATE: 06/24/2015 DEE
APN
9655-11-7609-00000
UPID
US53-0607290
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
$555k
Blend (final)
Blend
$555k
Owner & transaction history
First Citizens Bk & Trust · 11 yrs held
First Citizens Bk & Trust
since 2014
1 recorded transaction
Zoning & alternative use
DEED DATE: 06/24/2015 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$660,000
+35.9%
Auto repair, garage
$645,000
+32.9%
Medical building
$570,000
+17.0%
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
OFFICE BUILDING
$485,000
Current use
COMMERCIAL (GENERAL)
$660,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$645,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$570,000
Change: +17% · Conversion: Easy
RETAIL STORES
$505,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$435,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$220 / 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
$4,073
Tax year 2024
Assessed value
$439,400
Assessed 2024
Previous assessed
$439,400
+0.0% YoY
Effective rate
0.93%
On assessed value
Land market value
$61,300
Improvement market value
$378,100
Total market value
$439,400
Applied tax rate
7.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2003
Construction
BRICK
Heating
NONE
Cooling
YES
Stories
1
Total area
2,520 SF
Lot
0.07 ac (3,049 SF)
Zoning code
DEED DATE: 06/24/2015 DEE
APN
9655-11-7609-00000
UPID
US53-0607290
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 06/24/2015 DEE · Asheville, NC
Zoning DEED DATE: 06/24/2015 DEE · permitted uses
DEED DATE: 06/24/2015 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
OFFICE BUILDING Current
Est. value
$485,000
COMMERCIAL (GENERAL)
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$645,000
MEDICAL BUILDING
Est. value
$570,000
RETAIL STORES
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$435,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2003
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
First Citizens Bk & Trust
Trust
Free & Clear · 11 yrs held
Mailing address
79 WOODFIN PL STE #300, ASHEVILLE, NC 28801-2681
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2014
$244,200
First Citizens Bk & Trust
Wilkie Stephen C
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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