Office Condo with Warm-Shell
For Sale
$765,000
150-408 Depot St, Asheville, NC 28801
A former medical-office layout provides a foundation for buyer customization and professional, wellness, or medical use.
Property Size2,224 SF
Price / SF$343.97
Days on Market352
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Property Features for 150-408 Depot St
General Information
Standard status
Active
Size
2,224 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
No
Listing Agency:
Likewise Commercial Real Estate
Listed By:
Carla Barnard · License #286709
(828) 222-3685
Source:
Exprealty
Added: Oct 29, 2025
Changed: Oct 15
Last Checked: Oct 15 at 2:20AM
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 Likewise Commercial Real Estate
Investment Insights
Based on property information with market context.
This office condo offers ±2,224 SF of warm-shell space for buyer build-out. The suite was previously configured as a medical office, and its layout can be adapted for medical, wellness, or professional use. Shared parking is available across Depot Street, with additional street parking in front of the property.
The condo is in Asheville’s River Arts District, a few blocks from Mission Hospital and near restaurants, galleries, and creative businesses. I-240 and I-26 provide area access.
The condo is in Asheville’s River Arts District, a few blocks from Mission Hospital and near restaurants, galleries, and creative businesses. I-240 and I-26 provide area access.
Key Highlights
- ±2, 224 SF of warm‑shell office space
- Previously configured as a medical office
- Shared parking across Depot Street and street parking in front
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,262
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$825,240
$825.2K
Cap Rate 7%
$589,457
$589.5K
Cap Rate 9%
$458,467
$458.5K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$56.3K $25.32/SF
− Vacancy
−$1.3K −$0.58/SF
EGI
$55.0K $24.74/SF
− OpEx
−$13.8K −$6.18/SF
NOI
$41.3K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$825,240
Cap Rate 7%
$589,457
Cap Rate 9%
$458,467
Alternative Uses
Best Use
Office B
$589.5K
$515.8K – $687.7K
NOI $41,262 @ 7.0% cap · market cap 5.39%
Second Best
Healthcare Medical
$527.4K
$461.5K – $615.4K
NOI $36,921 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$703.3K
$615.4K – $820.5K
NOI $49,228 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - A former medical-office layout provides a foundation for buyer customization and professional, wellness, or medical use.
Where is this office units located?
The property is located at 150-408 Depot St Asheville, NC.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: ±2, 224 SF of warm‑shell office space; Previously configured as a medical office; Shared parking across Depot Street and street parking in front
