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For sale
Office Units
NC
Asheville
28801
53 Asheland Avenue

Asheville Downtown Condo Portfolio

53 Asheland Avenue, Asheville, NC 28801

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For Sale

$1,745,000

Fully leased condo portfolio in Asheville's South Slope.

Type:Commercial/Industrial

HighLights

Excellent investment opportunity with a 7.78% capitalization rate on blended and stabilized net rent
Fully‑leased condo portfolio in downtown Asheville's South Slope
Long‑term leases with State of NC and Buncombe County Partnership for Children
Abundant parking
Secure and zero grade entry
Strong monument sign visibility on Asheland Avenue and Grove Street

We can help!

Listing Contact

Chris Gragtmans

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For Sale

$1,745,000

Fully leased condo portfolio in Asheville's South Slope.

Type:Commercial/Industrial

Added:: Jul 31, 2024
Days on Market:: 694
Last Refresh:: May 19 at 9:32 pm

Property Features for 53 Asheland Avenue

General Information

Standard status: Active
Property subtype: Commercial/Industrial

Building Details

Year Built: 1970

We can help!

Listing Contact

Chris Gragtmans

Listing agent Chris Gragtmans License #293485

Listing office Keller Williams Professionals

Listing date Jul 31, 2024

Source Exitrealty

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 Keller Williams Professionals

HighLights

Excellent investment opportunity with a 7.78% capitalization rate on blended and stabilized net rent
Fully‑leased condo portfolio in downtown Asheville's South Slope
Long‑term leases with State of NC and Buncombe County Partnership for Children
Abundant parking
Secure and zero grade entry
Strong monument sign visibility on Asheland Avenue and Grove Street

Overview

This fully-leased condo portfolio presents a passive investment opportunity in downtown Asheville, situated in the thriving South Slope. The property benefits from abundant parking, secure zero grade entry, and strong monument sign visibility on Asheland Avenue and Grove Street. The property is currently occupied by long-term tenants, including the State of NC (Mountain Area Workforce Development Board) and the non-profit Buncombe County Partnership for Children. Condos 102A, 104, and 105 are offered together at a 7.78% capitalization rate on blended and stabilized net rent.

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Local Demand

City: Asheville
County: Buncombe
State: North Carolina
Longitude: -82.5566
Latitude: 35.592

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For sale
Office Units
NC
Asheville
28801
53 Asheland Avenue

What type of property is this?

Office units - Fully leased condo portfolio in Asheville's South Slope.

Where is this office units located?

The property is located at 53 Asheland Avenue Asheville, NC.

What is the asking price?

The asking price for this property is $1,745,000.

What are key features of this property?

This property features: Excellent investment opportunity with a 7.78% capitalization rate on blended and stabilized net rent; Fully‑leased condo portfolio in downtown Asheville's South Slope; Long‑term leases with State of NC and Buncombe County Partnership for Children