Historic Creative Workspace in
109 Roberts Street Asheville, NC 28801
109 Roberts Street, Asheville, NC, 28801
$4,800,000
For Sale
$4,800,000
SINGLE_FAMILY - Asheville, NC
Property Size20,800 SF
Lot Size0.32 Acres
Price / SF$230.77
Days on Market93
Property Features for 109 Roberts Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- RAD-NT
- Rooms
- Basement
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 9638-97-7601-00000
- Size
- 20,800 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- DEED DATE:01/02/2020 DEED:5850-1194 SUBDIV:PROP OF POWELL & RAY LOT:4 5 6 PLAT:0198-0070
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
Building Details
- Year built
- 1928
- Floors in Building
- 4
- Flooring type
- Concrete
- Building materials
- Brick Full
- Roof type
- Flat
Listing Agency
The Real Estate Center
(828) 255-4663
159 South Lexington Avenue, Asheville, NC
Listed by
Jay Lurie · License #192865
(828) 216-8462
Added: Apr 17 Checked: Jul 18 at 3:06 am
MLS# 4366305
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Phil Mechanic Studios presents an opportunity to acquire a historic creative workspace building situated in Asheville's River Arts District. The property, located at 109 Roberts Street, encompasses more than 20,800 square feet distributed across five floors. It serves as a long-standing anchor for the district's arts community, housing over 35 artists and creative businesses. The building benefits from strong demand fueled by Asheville's nationally recognized arts and tourism economy. Positioned adjacent to The Radical Hotel and within one of the city's most active redevelopment corridors, the property offers a distinctive investment opportunity. The property is located between The Radical Hotel and The Wedge Studio's. The sale includes the parking lot across the street on the corner. The lot size is 0.32 acres. The property is zoned RAD-NT.
Key Highlights
- Rare opportunity to acquire a historic, large (20,800+ sq ft) creative workspace building.
- Located in Asheville's River Arts District, a nationally recognized arts and tourism hub.
- Home to 35+ artists and creative businesses, demonstrating strong demand and income potential.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $526.7k | $25.32 |
| − Vacancy | −$12.1k | −$0.58 |
| EGI | $514.5k | $24.74 |
| − OpEx | −$128.6k | −$6.18 |
| NOI | $385.9k | $18.55 |
20,800 SF · lease $25.32/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.51M
$4.82M – $6.43M
NOI $385,907 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.58M
$5.76M – $7.67M
NOI $460,406 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Amy’s Exotic Pet ...
Department Store
A. Faith Arts
(Bike/Boat/Book/etc) Store
Melting Mountain Pottery
Department Store
Heart Song Acupuncture
Alternative Medicine Practice
Phil Mechanic Studios
Association / Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Creative space - Rare investment opportunity in Asheville's vibrant River Arts District.
Where is this creative space located?
The property is located at 109 Roberts Street Asheville, NC.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Rare opportunity to acquire a historic, large (20,800+ sq ft) creative workspace building.; Located in Asheville's River Arts District, a nationally recognized arts and tourism hub.; Home to 35+ artists and creative businesses, demonstrating strong demand and income potential.
