242-244 Tunnel Rd - Freestanding FOR SALE


Asheville, NC 28805
$4,930,000 USD
828-551-1044
242-244 Tunnel Rd, Asheville, NC for Sale
$4,930,000 USD
Freestanding - FOR SALE
1/8
null | 6.6% Cap Rate

242-244 Tunnel Rd
Asheville, NC 28805


HIGHLIGHTS

  • NNN Investment Opportunity
  • Stable Income Stream from National Tenants
  • Under Market Rents
  • Strong Tunnel Road Location - Busiest Retail Corridor in Asheville
  • Seated on Fully Signalized Hard Corner
  • Excellent Local Demographics

OVERVIEW

NNN Investment-Grade opportunity in Asheville, NC. Verizon Wireless and Pet Supermarket are co-tenants and occupy 100% of this 15,931 SF building on 1.71 acres. Located in the dense retail Tunnel Road corridor, this property has great demos, exceptional access and ample parking. Pet Supermarket has been a tenant since 2004. Verizon Wireless has been a tenant since 2005. This property offers stable income from two national brand tenants with a long operating history at the location. Given the current rental rates and remaining term, this offering also represents a value add opportunity for buyer.

FOR SALE DETAILS

PRICE

$4,930,000 USD

PRICE/SF

$309 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

HB

APN/PARCEL ID

9658-16-4759-00000

ASK ABOUT THIS PROPERTY

Wes ReinhardtDewey Property AdvisorsMore Info
828-551-1044

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Wes ReinhardtDewey Property AdvisorsMore Info
828-551-1044

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