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Property profile & analytics
OFF-MARKET
Estimated value
$6,920,000
Retail space
915 Merrimon Ave Asheville, NC 28804-2304
Entity Owned
Free & Clear
Property ID
US53-2013042
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,098 SF
Lot
6.21 ac (270,508 SF)
Zoning code
DEED DATE: 04/22/1986 DEE
APN
9740-43-5284-00000
UPID
US53-2013042
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
-
Ingles Pharmacy Pharmacy
-
Ingles Markets Grocery & Convenience Store Food Market
-
Starbucks Cafe & Coffee Shop
-
Ingles Gas Express Gas Station
-
Coinstar Kiosk | Bitcoin ATM Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.92M
Blend (final)
Blend
$6.92M
Owner & transaction history
INGLES MARKETS INC
INGLES MARKETS INC
Zoning & alternative use
DEED DATE: 04/22/1986 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.0M
+86.2%
Auto repair, garage
$6.2M
+27.3%
Commercial (general)
$5.8M
+19.7%
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
RETAIL STORES
$4,850,000
Current use
RESTAURANT
$9,035,000
Change: +86% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,175,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,810,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$5,440,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$4,650,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$6.92M
Range $6.23M – $7.61M · ±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
$287 / 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
$76,232
Tax year 2024
Assessed value
$7,379,000
Assessed 2024
Previous assessed
$7,379,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Land market value
$5,355,400
Improvement market value
$2,023,600
Total market value
$7,379,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
24,098 SF
Lot
6.21 ac (270,508 SF)
Zoning code
DEED DATE: 04/22/1986 DEE
APN
9740-43-5284-00000
UPID
US53-2013042
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 04/22/1986 DEE · Asheville, NC
Zoning DEED DATE: 04/22/1986 DEE · permitted uses
DEED DATE: 04/22/1986 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
RETAIL STORES Current
Est. value
$4.9M
RESTAURANT
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.7M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
6.21 ac
Current owner
From public records · entity-resolved
INGLES MARKETS INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 460189, HOUSTON, TX 77056-8189
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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