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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Strip malls
825 Merrimon Ave Asheville, NC 28804-2464
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0048153
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,772 SF
Lot
0.97 ac (42,253 SF)
Zoning code
DEED DATE: 02/26/1999 DEE
APN
9740-41-4879-00000
UPID
US53-0048153
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
-
Buncombe Home Watch Property Management Company Service Establishment
-
De Santana Stone Co Inc Building Supply
-
Carolina Eye Care On Merrimon Physician
-
the Center for Healthy Aging Crisis Center Medical Clinic
-
Fast Freight Services Inc Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.10M
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.80M
Owner & transaction history
M&m Valley Investments LP · 5 yrs held
M&m Valley Investments LP
since 2021
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
DEED DATE: 02/26/1999 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Chapter 7 DEVELOPMENT
Top alternative use upside
Auto repair, garage
$2.5M
+49.0%
Commercial (general)
$2.4M
+40.1%
Medical building
$2.2M
+31.2%
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
$1,470,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,275,000
6.5%
$2,100,000
7%
$1,950,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,680,000
Current use
AUTO REPAIR, GARAGE
$2,505,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,355,000
Change: +40% · Conversion: Easy
MEDICAL BUILDING
$2,205,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$1,965,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$1,885,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.95M (Apr 29 2021)
Last sale anchor
$1.95M
Apr 29 2021
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
$184 / 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
$16,358
Tax year 2024
Assessed value
$1,583,400
Assessed 2024
Previous assessed
$1,583,400
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$1,162,000
Improvement market value
$421,400
Total market value
$1,583,400
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
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Total area
9,772 SF
Lot
0.97 ac (42,253 SF)
Zoning code
DEED DATE: 02/26/1999 DEE
APN
9740-41-4879-00000
UPID
US53-0048153
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 02/26/1999 DEE · Asheville, NCZoning DEED DATE: 02/26/1999 DEE · permitted uses
DEED DATE: 02/26/1999 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.2M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
OFFICE 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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
M&m Valley Investments LP
Entity
Free & Clear · 5 yrs held
Mailing address
11235 W PT DR, KNOXVILLE, TN 37934-2827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2021
$1,950,000
M&m Valley Investments LP
Groce Properties LLC
Special Warranty Deed
—
Jan 14, 2021
$565,500
Amarx Construction LLC
At Arabella Heights L Pinnacle
Warranty Deed
$2,000,000 · First Nat'l Bk/pa
Dec 30, 2020
—
Amarx Construction LLC
—
Deed
related
—
Dec 2, 2020
—
Owners Crayton P
Amarx Construction LLC
Warranty Deed
related
—
—
—
Amarx Construction LLC
—
Deed Of Trust
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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