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53 Asheland Avenue 3 Office Condos Offered at $1,795,000 in Asheville, NC
INVESTMENT HIGHLIGHTS
- Fully Leased Condos
- Located in Downtown Asheville
EXECUTIVE SUMMARY
Passive investment opportunity in downtown Asheville! This fully-leased office condo portfolio is located in the heart of the thriving South Slope food and beverage , and boasts abundant parking, secure / zero grade entry, and strong monument sign visibility on Asheland Avenue and Grove Street. Attractive long-term leases include the State of NC (Mountain Area Workforce Development Board), and the non-profit Buncombe County Partnership for Children. Condo Suites 102A, 104, and 105 are offered together at a 7.78% capitalization rate on blended and stabilized net rent!
TAXES & OPERATING EXPENSES (PRO FORMA - 2025) |
ANNUAL |
|---|---|
| Gross Rental Income |
$155,250
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$155,250
|
| Taxes |
$3,816
|
| Operating Expenses |
$11,800
|
| Total Expenses |
$15,616
|
| Net Operating Income |
$139,634
|
TAXES & OPERATING EXPENSES (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $155,250 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $155,250 |
| Taxes | |
|---|---|
| Annual | $3,816 |
| Operating Expenses | |
|---|---|
| Annual | $11,800 |
| Total Expenses | |
|---|---|
| Annual | $15,616 |
| Net Operating Income | |
|---|---|
| Annual | $139,634 |
PROPERTY FACTS
| Price | $1,795,000 | Status | Under Contract |
| Price / SF | $273.46 / SF | Number of Properties | 3 |
| Cap Rate | 7.78% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 6,564 SF |
| Price | $1,795,000 |
| Price / SF | $273.46 / SF |
| Cap Rate | 7.78% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 6,564 SF |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
The Asheland Center
53 Asheland Ave, 1st Floor - Unit 105, Asheville, NC 28801 |
Office Condo | 2,282 SF | 1970 | - |
|
The Asheland Center
53 Asheland Ave, 1st Floor - Unit 104, Asheville, NC 28801 |
Office Condo | 2,282 SF | 1970 | - |
|
The Asheland Center
53 Asheland Ave, 1st Floor - Unit 102A, Asheville, NC 28801 |
Office Condo | 2,000 SF | 1970 | - |
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53 Asheland Avenue
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