Flex Space with Expansion
New
For Sale
$8,495,000
140 Vista Blvd, Arden, NC 28704
EMP-zoned flex space includes conditioned work areas and graded land that can support building expansion.
Property Size56,259 SF
Lot Size9.40 Acres
Price / SF$150
Days on Market5
Property Features for 140 Vista Blvd
General Information
Standard status
Active
Size
56,259 SF
Total Parking Spaces
100
Lot size
9.40 Acres
Property subtype
Commercial
Zoning
EMP
Warehouse & Industrial
Clear Height
26 ft
Dock-High Doors
3
Drive-In Doors
1
Column Spacing
40 x 40 ft
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1999
Year Renovated
2018
Building Size
56,259 SF
Listing Agency:
Whitney Commercial Real Estate
Listed By:
Austin Walker awalker@whitneycre.com
Source:
Judy.lakenormanhomeguide
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 6:31AM
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 Whitney Commercial Real Estate
Investment Insights
Based on property information with market context.
This 56,259-square-foot flex property was built in 1999 and renovated in 2018. The building has 26-foot clear height, 40x40 column spacing, LED lighting, and heated and cooled HVAC. Fire protection includes a wet sprinkler system and fire alarm, with three dock-high doors and one drive-in door for loading. The property also has 100 parking spaces.
The 9.40-acre site is zoned EMP. Approximately 2 acres of surplus land have been graded to the existing building’s finished-floor elevation. The property is 2 miles from I-26 and 5 miles from Asheville Regional Airport.
Lease configurations include the full building or a ±44,371 SF portion.
The 9.40-acre site is zoned EMP. Approximately 2 acres of surplus land have been graded to the existing building’s finished-floor elevation. The property is 2 miles from I-26 and 5 miles from Asheville Regional Airport.
Lease configurations include the full building or a ±44,371 SF portion.
Key Highlights
- 56,259 SF building on a 9.40‑acre EMP‑zoned site
- Approximately 2 acres graded to the existing building’s finished‑floor elevation
- 26 ft clear height and 40x40 column spacing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$476,059
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,521,180
$9.5M
Cap Rate 7%
$6,800,843
$6.8M
Cap Rate 9%
$5,289,544
$5.3M
Market Conditions
NOI Build-Up for 56,259 SF
Gross rent
$573.8K $10.20/SF
− Vacancy
−$13.8K −$0.24/SF
EGI
$560.1K $9.96/SF
− OpEx
−$84.0K −$1.49/SF
NOI
$476.1K $8.46/SF
Area
Buncombe County, NC
Vacancy
2.40%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,521,180
Cap Rate 7%
$6,800,843
Cap Rate 9%
$5,289,544
Alternative Uses
Best Use
Warehouse
$6.80M
$5.95M – $7.93M
NOI $476,059 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$5.60M
$4.90M – $6.53M
NOI $392,049 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$17.79M
$15.57M – $20.75M
NOI $1,245,288 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
26 ft
Clear height
3
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28704, NC
23,734
Population
11,514
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
30.1 sq mi
ZIP Area
789
Density / Sq Mi
$79,088
Median Household Income
$39,072
Median Earnings
$1,369
Median Rent
$343,600
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - EMP-zoned flex space includes conditioned work areas and graded land that can support building expansion.
Where is this flex space located?
The property is located at 140 Vista Blvd Arden, NC.
What is the asking price?
The asking price for this property is $8,495,000.
What are key features of this property?
This property features: 56,259 SF building on a 9.40‑acre EMP‑zoned site; Approximately 2 acres graded to the existing building’s finished‑floor elevation; 26 ft clear height and 40x40 column spacing
