149-161 S Lexington Ave - Storefront Retail/Office CONDO FOR SALE


Asheville, NC 28801- Downtown Asheville
$1,225,000 USD
828-279-0090
149-161 S Lexington Ave, Asheville, NC for Sale
$1,225,000 USD
Storefront Retail/Office CONDO - FOR SALE
1/43
null | 6.68% Cap Rate

149-161 S Lexington Ave
Asheville, NC 28801
Downtown Asheville


HIGHLIGHTS

  • Prime Downtown Asheville location
  • Flexible layout options
  • Four parking spaces
  • Tenants in place
  • Strong investment potential

OVERVIEW

Consistent across the space are Class A finishes: Hardwood floors, large windows (in many of the suites), and abundant natural light. Several suites feature access to outdoor patio spaces, and all are within easy walking distance of the restaurants, shops, and amenities of Downtown Asheville and the South Slope. The seven suites total 4,663 rentable square feet, and are broken down as follows: Suite A = 367 rentable square feet (leased); $850/month rent Suite B1 = 479 rentable square feet (leased); $1,200/month rent Suite B2 = 402 rentable square feet (leased); $800/month rent Suite C = 523 rentable square feet (vacant); $1,263.92/month rent (for lease) Suite D = 936 rentable square feet (vacant); $2,262/month rent (for lease) Suite E = 657 rentable square feet (vacant); $1,500/month rent (for lease) Suite F = 939 rentable square feet (leased); $2,300/month rent Suite G = 630 rentable square feet (vacant); $900/month rent (for lease) Additionally, suites C, D, and E could be combined into a single suite which would be 2,116 rentable square feet. That option is currently vacant, and would be offered at a rate of $5,025.92 per month). All leases are a full-service rate. All of these suites have access to two common bathrooms, as well as a common interior hallway. There's a kitchen and breakroom area that is shared by all suites as well. The property comes with four parking spaces, located in a lower-level garage. The property is incredibly flexible and allows an investor with several different options for tenant configurations. Additionally, the property could be perfect for an owner-occupant who can utilize a portion of the space for their own business, while leasing out other suites for supplemental income. Fully stabilized, this property offers an attractive opportunity for investors seeking stable returns and room for growth.

FOR SALE DETAILS

PRICE

$1,225,000 USD

PRICE/SF

$263 USD /SF

CAP RATE

6.68%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Condo Lease Options

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Industrial Live/Work Unit

TOTAL BUILDING SIZE

65,778 SF

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

CBD

APN/PARCEL ID

9648-48-1742-00000

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.