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9-13 Broadway St 6,276 SF 100% Leased Retail Building Asheville, NC 28801 $3,500,000 ($557.68/SF) 4.80% Cap Rate
Investment Highlights
- 3 Units: 1 Restaurant and 2 Residential Units
- Prime Downtown Location
- 100% Leased
Executive Summary
Fully leased, mixed-use historic asset located in the heart of Downtown Asheville, NC, offering a stabilized and diversified income stream. Positioned steps away from Pack Square in between the AC Marriott and The Kimpton Arras Hotel. Built in 1920 and updated in 2024, the property at 9–13 Broadway Street features three ground-level retail spaces, including a restaurant, and two fully furnished residential units (1 BR/1.5 BA and 1 BR/1 BA). The asset is 100% occupied with stable tenants and renewal options in place, providing predictable cash flow and long-term income security. Positioned in Asheville’s high-traffic, tourism-driven urban core and surrounded by strong hospitality and retail development, this investment offers multiple revenue streams and a balanced income profile in the heart of Downtown Asheville. (Sale includes 2 buildings: PIN 13 Broadway - 964940261500000 and PIN 9 Broadway - 964940261200000.
Prime downtown Asheville location at the corner of Broadway and College St, near Pack Square, situated between the AC Marriott and Kimpton Arras Hotel.
Prime downtown Asheville location at the corner of Broadway and College St, near Pack Square, situated between the AC Marriott and Kimpton Arras Hotel.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,276 SF
Building Class
B
Year Built/Renovated
1927/2024
Price
$3,500,000
Price Per SF
$557.68
Cap Rate
4.80%
NOI
$168,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.20
Lot Size
0.12 AC
Zoning
CBD
Frontage
65’ on Broadway St
Very walkable
80/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 9649-40-2612-00000 | Improvements Assessment | $438,400 |
| Land Assessment | $505,300 | Total Assessment | $943,700 |
Property Taxes
Parcel Number
9649-40-2612-00000
Land Assessment
$505,300
Improvements Assessment
$438,400
Total Assessment
$943,700
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9-13 Broadway St