11 N Market St - Office/Residential FOR SALE


Asheville, NC 28801
$10,000,000 USD
828-230-8025
11 N Market St, Asheville, NC for Sale
$10,000,000 USD
Office/Residential - FOR SALE
1/7
null | Request Cap Rate

11 N Market St
Asheville, NC 28801


HIGHLIGHTS

  • Central downtown Asheville location
  • Strong local economy

OVERVIEW

~20% PRICE REDUCTION APRIL 2024. Downtown Asheville, NC Redevelopment Opportunity. 11 N. Market St has been home to the Van Winkle Law Firm since 1987 following a certified historic tax credit rehabilitation. It was constructed as the Western Carolina Automobile Company by John Lange, who also developed the Langren Hotel in downtown Asheville and the Glen Rock Hotel in the River Arts District. Lange sold many different cars at 11 N. Market Street, including LaSalle, Cadillac, Oakland, Pontiac, Rausch-Lang Electric cars and Harley Davidson Motorcycles. Due to the scarcity of comparable downtown Asheville parcels available at any given point in time, there is a generational opportunity to redevelop this building with a long, rich history along with two ideally located corner parcels. 3 parcels. 52,505 sf office building to redevelop, 2 additional parcels each 0.14 acres. Located in small hotel overlay district under 35 rooms. 145' height limit on 11 N. Market & 1 parcel. Other parcel 265' height limit. Desirable CBD zoning. Seller will consider a leaseback post closing as well as seller financing.

FOR SALE DETAILS

PRICE

$10,000,000 USD

PRICE/SF

$190 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

C

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

CBD

APN/PARCEL ID

9649-40-4880-00000,9649-40-5659-00000,9649-40-6761-00000

ASK ABOUT THIS PROPERTY

Jeremy GoldsteinG/M Property GroupMore Info
828-230-8025

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Jeremy GoldsteinG/M Property GroupMore Info
828-230-8025

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.