148 Tunnel Rd - Storefront FOR SALE


Asheville, NC 28805
$2,972,875 USD
847-562-0003
148 Tunnel Rd, Asheville, NC for Sale
$2,972,875 USD
Storefront - FOR SALE
1/4
null | 8% Cap Rate

148 Tunnel Rd
Asheville, NC 28805


HIGHLIGHTS

  • Positioned within the Greenville MSA
  • Long term operating history from all tenants
  • National Vision/America’s Best is owned by KKR, one of the most prominent private equity investors in the world
  • Sub-market vacancy is 1.3% according to CoStar
  • Average household income within 5 miles is $104,199

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a multi-tenant net leased property located within the Greenville MSA in Asheville, North Carolina. The property is 100% leased to The Vitamin Shoppe and America’s Best Contacts & Eyeglasses. Additionally, there is a fully leased billboard on the premises providing additional income to the landlord. The Vitamin Shoppe has been operating at this location since it’s construction in 2011 while America’s Best opened in 2015. All tenants have scheduled rental increases throughout the leases. The subject asset is positioned in a market where vacancy is less than 2% according to CoStar. The 6,700 square-foot building benefits from its position along Tunnel Road which experiences 17,000 vehicles per day and connects the property to downtown Asheville. The property also located just off Interstate 240 (76,000 VPD). There are 93,409 people living within a five-mile radius of the subject. The average household income within the same bounds is $104,199. The subject asset is surrounded by three nationally tenants shopping centers: Asheville Mall, Inssbruck Mall, and Asheville Market. These centers draw continual traffic through the corridor which the subject benefits from. Notable tenants occupying the corridor include Whole Foods, Big Lots, HomeGoods, TJ Maxx, Chick-Fil-A, Red Lobster, McDonald’s, Verizon, Cracker Barrel, and many others. Since 1977, The Vitamin Shoppe® has been dedicated to helping customers become their best selves. Across 780 stores nationwide, The Vitamin Shoppe segment operates as an omnichannel specialty retailer of vitamins, minerals, herbs, specialty supplements, sports nutrition, and other health and wellness products under the BodyTech, True Athlete, plnt, The Vitamin Shoppe, ProBioCare, Fitfactor Weight Management System, and Vthrive The Vitamin Shoppe brands. National Vision is the second largest and one of the fastest growing optical retail companies in the U.S. with over 1,300 stores in 44 states and Puerto Rico. America's Best Contacts & Eyeglasses is a discount provider of eye examinations, eyeglasses and contact lenses, with over 700 retail locations in the United States as of 2019. From 2005 to 2014, America's Best was a division of National Vision, a privately held portfolio company owned by Berkshire Partners. In 2014, National Vision, Inc, was sold to KKR, one of the most prominent private equity investors in the world.

FOR SALE DETAILS

PRICE

$2,972,875 USD

PRICE/SF

$444 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Vitamin Shoppe | America's Best

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

HB

APN/PARCEL ID

9658-08-8500-00000

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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