122 College St - Storefront Retail/Residential FOR SALE


Asheville, NC 28801- Downtown Asheville
$4,850,000 USD
828-279-0090
122 College St, Asheville, NC for Sale
$4,850,000 USD
Storefront Retail/Residential - FOR SALE
1/62
null | Request Cap Rate

122 College St
Asheville, NC 28801
Downtown Asheville


HIGHLIGHTS

  • - Prime downtown Asheville location across from Pack Square Park - Award-winning 2023 renovation (Griffin Award for Adaptive Reuse)
  • - Rooftop terrace (400 SF) with views of Pack Square Park and Asheville’s art-deco landmarks - Iconic historic architecture with exposed brick, 1917
  • - Fully leased 3,000-SF street-level restaurant with high ceilings - Fully leased 3,000-SF lower-level bar with private entrances -- Flex CBD zoning
  • - Two 2BD/2BA luxury apartments (2nd floor 1250 SF each) - One 3BD/3.5BA penthouse with mezzanine and private rooftop terrace (top floor 2950 SF)
  • - Large windows with abundant natural light and city/mountain views - Fully furnished residential suites, state-of-the-art appliances modern décor
  • - New electrical, mechanical, and HVAC systems (2023) - Fully sprinkled with monitored fire alarm - Newly installed fire escape for zoning flexibility

OVERVIEW

Welcome to 122 College Street, where historic character meets modern luxury in the heart of Downtown Asheville. Located steps from iconic Pack Square Park in the vibrant Central Business District, this 11,885 SF mixed-use property underwent an award-winning 2023 renovation, earning a Griffin Award for adaptive reuse from the Preservation Society of Asheville. Classic exposed brick and 1917 finishes define the building's facade, inviting patrons and tenants to enjoy the bright atmosphere of the 3,000-SF restaurant space on the main floor; or the cozy, 3,000-SF bar on the lower level—both 100% leased. From College Street, a private residential entrance leads to 5,040 total SF of spectacular upper-floor luxury suites, including two beautifully appointed 2BD/2BA apartments on the second floor (1,250 square feet each); and a 3BD/3.5BA penthouse on the top level with 2,950 square feet and room for 10 guests. Each of the residential suites offers spacious layouts, with large windows opening to gorgeous city views. All suites boast high ceilings and exposed brick, creating an industrial-loft aesthetic unique to Downtown Asheville. The penthouse features breathtaking 25' ceilings, and a stringer staircase that leads to a 380 SF mezzanine. From there, step out onto the only private rooftop terrace overlooking Pack Square Park (400 SF), where sweeping mountain views blend seamlessly with Asheville's iconic art-deco structures. The suites and penthouse are offered fully furnished, with state-of-the-art appliances, modern furniture, and stylish decor appointed throughout. The property is fully sprinkled and outfitted with new electrical, mechanical, and HVAC systems, as well as a monitored fire alarm system. A newly installed fire escape provides flexibility for CBD zoning uses, offering future adaptability for an owner. With its unbeatable location, award-winning design, and impeccable updates, 122 College Street is truly a must-see—a rare opportunity to own a landmark property in Downtown Asheville.

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$408 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

122 College Street Portfolio Sale

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Bar, Restaurant, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1917

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

CBD

APN/PARCEL ID

9649-40-7722-00000

ASK ABOUT THIS PROPERTY

James HarrisonWhitney Commercial Real Estate ServicesMore Info
828-279-0090

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James HarrisonWhitney Commercial Real Estate ServicesMore Info
828-279-0090

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