168 Tunnel Road #10, Asheville, NC 28805

Building Details

Building Size 2,016 SF More

Year Built 2016 More

Listing Agency: Dewey Property Advisors t***@deweypa.com Show Phone

Listed By: Jay Lurie · License ##192865 Show Phone

Source: Blackstreaminternational

Added: Nov 3 Changed: Nov 8 Last Checked: Nov 8 at 6:53AM

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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 Dewey Property Advisors

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,460-square-foot retail suite is part of a strip center built in 2016. The space is currently occupied and has a storefront, with shared parking and signage opportunities at the center.

The property is on Tunnel Road in Asheville, with access to downtown and I-240. Nearby businesses include Wingstop and Firehouse Subs.

Key Highlights

• 1,460‑square‑foot retail suite
• Built in 2016
• Located on Tunnel Road in Asheville, with access to downtown and I‑240

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,119

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,380 $342.4K

Cap Rate 7%

$244,557 $244.6K

Cap Rate 9%

$190,211 $190.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,460 SF

Gross rent

$24.9K $17.04/SF

− Vacancy

−$423 −$0.29/SF

EGI

$24.5K $16.75/SF

− OpEx

−$7.3K −$5.03/SF

NOI

$17.1K $11.73/SF

Area

Buncombe County, NC

Vacancy

1.70%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,380

Cap Rate 7%

$244,557

Cap Rate 9%

$190,211

Alternative Uses

Best Use

Retail

$244.6K

$214.0K – $285.3K (±1% cap)

NOI $17,119 @ 7.0% cap · market cap 472.25%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$461.7K

$404.0K – $538.6K (±1% cap)

NOI $32,317 @ 7.0% cap · market cap 891.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Firehouse Subs Tunnel ... Take-out & Catering Octopus Garden Smoke ... (Bike/Boat/Book/etc) Store Kltr Kickz Clothing & Fashion Store OG Vapors (Bike/Boat/Book/etc) Store Wingstop Restaurant

Suggested Use

Top Pick Law Firm Building Supply HVAC Service Parking Lot & Garage Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

743

Businesses Nearby

483k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Apparel 34% Dining 27% Shops & Services 23% Electronics 7%

Five Below Shops & Services

46,252 visits/mo 0.1 miles

Chick-fil-A Dining

41,655 visits/mo 0.3 miles

Belk Apparel

38,941 visits/mo 0.3 miles

Ross Dress for Less Apparel

38,095 visits/mo 0.1 miles

Best Buy Electronics

31,798 visits/mo 0.2 miles

Demographics for 28805, NC

18,554

Population

10,737

Households

1.7

Avg Household Size

48

Median Age

49%

College-Educated

96%

High-School Grad

26.5 sq mi

ZIP Area

700

Density / Sq Mi

$67,104

Median Household Income

$35,897

Median Earnings

$1,198

Median Rent

$360,600

Median Home Value

Market

Average Price Trend$/SF for Retail space in Asheville, NC

$207 Jul

$218 Aug

$230 Sep

$217 Oct

Properties on Market for Retail space in Asheville

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The suite is in a strip center with shared parking and signage opportunities.

Where is this retail space located?

The property is located at 168 Tunnel Road #10 Asheville, NC.

What are key features of this property?

This property features: 1,460‑square‑foot retail suite; Built in 2016; Located on Tunnel Road in Asheville, with access to downtown and I‑240