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    Downtown Asheville Office Space Title is generated by Realmo AI

    1 N Pack Square, Asheville, NC 28801

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    Private office suites in architecturally significant downtown building for lease.

    Type:Office
    Added:
    Mar 23, 2026
    Days on Market:
    52
    Last Refresh:
    Mar 25 at 8:10 am

    Property Features for 1 N Pack Square

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1982

    Spaces For Lease

    at 1 N Pack Square Contact us

    Suite 311 $47 /Mo

    Size
    116 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 307 $47 /Mo

    Size
    116 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 415 $30 /Mo

    Size
    258 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 412 $33 /Mo

    Size
    240 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 423 $39 /Mo

    Size
    170 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 411 $39 /Mo

    Size
    171 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 425 $38 /Mo

    Size
    173 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
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    Contact us

    Suite 421 $39 /Mo

    Size
    168 SF
    Type
    Office
    A rare opportunity to lease private office space within an architecturally significant...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Luiz Leonetti
    Luiz Leonetti

    Listing agent Luiz Leonetti License #NC 277781

    Listing office Town and Mountain Realty

    Listing date Mar 23, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Town and Mountain Realty

    HighLights

    • Prime location in the heart of Pack Square, Asheville's civic and commercial hub
    • Architecturally significant building designed by I. M. Pei
    • Access to expansive rooftop terraces with city and mountain views for events and meetings
    • Fully equipped conference rooms available for meetings and presentations
    • Highly visible and walkable downtown location near dining, hotels, and cultural destinations
    • Thoughtfully designed common areas creating a polished and welcoming professional setting

    Overview

    This property offers a rare opportunity to lease private office space within an architecturally significant building designed by I. M. Pei, ideally positioned at the center of Pack Square. The professional suites offer individual offices with shared access in a highly visible and walkable downtown environment, surrounded by premier dining, hotels, and cultural destinations. It is ideal for professionals seeking both presence and convenience. Tenants benefit from access to fully equipped conference rooms suited for meetings, presentations, and client engagements, along with thoughtfully designed common areas that create a polished and welcoming professional setting. Expansive rooftop terraces provide a distinctive venue for private events, informal meetings, or gatherings, with sweeping city and mountain views. Conference facilities and rooftop areas are available by reservation and may be subject to additional fees. Located within Asheville’s most active civic and commercial hub, this offering combines architectural significance, functional efficiency, and amenity-rich appeal, creating a highly desirable environment for today’s professionals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MBG & Assoc LLC Law Firm Asheville by Foot ... Travel Agency TurnKey Vacation Rentals ... Property Management Company Dr. Stephen R. ... Physician Woolworth Walk Department Store

    Suggested Use

    Restaurant Real Estate Agency Dental Office Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5517257
    Latitude
    35.595317

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    FAQs

    What type of property is this?
    Office units - Private office suites in architecturally significant downtown building for lease.
    Where is this office units located?
    The property is located at 1 N Pack Square Asheville, NC.
    What are key features of this property?
    This property features: Prime location in the heart of Pack Square, Asheville's civic and commercial hub; Architecturally significant building designed by I. M. Pei; Access to expansive rooftop terraces with city and mountain views for events and meetings
    (828) 575-4428 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Luiz Leonetti
    Luiz Leonetti
    Real Estate License ID: NC 277781
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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