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    Downtown Asheville Medical Office Building Title is generated by Realmo AI

    90 Asheland Avenue, Asheville, NC 28801

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    For Sale
    $3,776,500

    Free-standing, two-level medical office building in Downtown Asheville.

    Type:Office
    Property size:
    15,106 SF
    Price / SF:
    $250/SF
    Added:
    Nov 22, 2025
    Days on Market:
    169
    Last Refresh:
    Dec 3 at 6:06 am

    Property Features for 90 Asheland Avenue

    General Information

    Standard status
    Active
    Size
    15,106 SF
    Property subtype
    Office

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Josh Kulak
    Josh Kulak

    Listing agent Josh Kulak License #292479

    Listing office Iowa Land Company

    Listing date Nov 22, 2025

    Source Naiglobal

    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 Iowa Land Company

    HighLights

    • High‑quality, free‑standing 15,106 SF medical office building in Downtown Asheville.
    • Ground‑level access and parking on both floors of the two‑level building.
    • Immediate access to a new 552‑space parking garage next door.
    • Recently remodeled with a new roof (2025), HVACs, and water heaters.
    • Flexible interior layouts suitable for various medical or professional uses.
    • Ideal for owner‑user or investor with tenant vacating at the end of 2025, allowing for fresh lease‑up.

    Overview

    This 15,106 square foot, two-level, free-standing medical office building is located in Downtown Asheville on just over one acre. The building offers ground-level access and parking on both floors. The property has been recently remodeled and features flexible interior layouts suitable for various medical or professional uses. A new roof is planned for 2025. The HVAC systems and water heaters have been recently replaced. On-site parking is available, with immediate access to the new 552-space Ironwood parking garage next door. Situated in Asheville's CBD, the upper level faces Ashland Ave, while the lower level opens to Federal Alley, leading off the heart of the South Slope. The current tenant is scheduled to vacate at the end of 2025, presenting an opportunity for an owner-user or investor seeking a fresh lease-up in a rapidly growing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CVRC Business Service Center Mountain Radiation Oncology: ... Physician Mark Jones Physician Dr. Eric F. ... Physician Dr. Matthew C. ... Physician

    Suggested Use

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

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

    Similar Places Nearby

    • Animal Rehab Center of Asheville — 178 s charlotte st, asheville, nc 28801
    • Sunvet Animal Wellness Clinic — 251 Haywood St A, Asheville, NC 28801
    • Pickett Scott E DVM — Asheville, NC 28801, United States
    • Cat Clinic of Asheville — 49 Haywood Rd, Asheville, NC 28806
    • Animal Movement — 251 Haywood St, Asheville, NC 28801

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5561873
    Latitude
    35.5894472

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    FAQs

    What type of property is this?
    Medical Office Space - Free-standing, two-level medical office building in Downtown Asheville.
    Where is this medical office space located?
    The property is located at 90 Asheland Avenue Asheville, NC.
    What is the asking price?
    The asking price for this property is $3,776,500.
    What are key features of this property?
    This property features: High‑quality, free‑standing 15,106 SF medical office building in Downtown Asheville.; Ground‑level access and parking on both floors of the two‑level building.; Immediate access to a new 552‑space parking garage next door.
    (828) 210-3940
    We can help!
    Listing Contact
    Josh Kulak
    Josh Kulak
    Real Estate License ID: 292479
    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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