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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Retail space
98 Lexington Ave, Asheville, NC 28801-2822
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-4665711
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1932
Construction
BRICK
Total area
3,252 SF
Lot
0.07 ac (3,049 SF)
Zoning code
DEED DATE: 12/13/2010 DEE
APN
9649-31-8533-00000
UPID
US53-4665711
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
-
Strange Magic Bar & Pub
-
Forever Tattoo Tattoo & Piercing Shop
-
Tattoos by John Snider Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$585k
Comparable Approach
Comparable
$557k
Blend (final)
Blend
$800k
Owner & transaction history
98 N Lexington LLC · 1 yrs held
98 N Lexington LLC
since 2025
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
DEED DATE: 12/13/2010 DEE · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$835,000
+36.8%
Auto repair, garage
$835,000
+36.4%
Medical building
$735,000
+20.1%
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
$1,085,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$635,000
6.5%
$585,000
7%
$545,000
Alternative Use
Use
Estimation
RETAIL STORES
$610,000
Current use
COMMERCIAL (GENERAL)
$835,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$835,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$735,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$600,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$560,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $1.00M (Mar 21 2025)
Last sale anchor
$1.00M
Mar 21 2025
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
$246 / 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
$6,208
Tax year 2024
Assessed value
$553,900
Assessed 2024
Previous assessed
$553,900
+0.0% YoY
Effective rate
1.12%
On assessed value
Land market value
$228,700
Improvement market value
$325,200
Total market value
$553,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1932
Construction
BRICK
Heating
NONE
Stories
2
Total area
3,252 SF
Lot
0.07 ac (3,049 SF)
Zoning code
DEED DATE: 12/13/2010 DEE
APN
9649-31-8533-00000
UPID
US53-4665711
Jurisdiction
BUNCOMBE
Zoning & alternative use
DEED DATE: 12/13/2010 DEE · Asheville, NC
Zoning DEED DATE: 12/13/2010 DEE · permitted uses
DEED DATE: 12/13/2010 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
$610,000
COMMERCIAL (GENERAL)
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$835,000
MEDICAL BUILDING
Est. value
$735,000
OFFICE BUILDING
Est. value
$600,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$560,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1932
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
98 N Lexington LLC
Entity
Free & Clear · 1 yrs held
Mailing address
67 BRADLEY ST, ASHEVILLE, NC 28806-4446
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2025
$1,000,000
98 N Lexington LLC
Sw Stelle Investments LLC
Special Warranty Deed
—
Sep 1, 2021
—
Sw Steele Investments LLC
—
Deed
related
$255,000 · Trupoint Bank
Aug 25, 2016
—
Sw Steele Investments LLC
—
Deed
related
$200,000 · Wells Fargo Bk
—
—
Sw Steele Investments LLC
—
Loan Modification
related
$200,000 · Wells Fargo Bk
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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