Office Suite with Exposed
18 S Pack Square #402, Asheville, NC 28801
For Sale
Contact for pricing
The suite has courtyard-facing windows, and full-service leasing covers utilities, janitorial service, repairs, maintenance, and management.
Property Size1,909 SF
Price / SF$0.01
Days on Market55
Property Features for 18 S Pack Square #402
General Information
Standard status
Size
Property subtype
Amenities
Additional parcels description:, Parcel Number: 9649-40-6331-00000, Assessed Value: $1.08096e+07
Listing ID: CAR4426975, Standard Status: Active, MLS Status: Active, Property Subtype: Office, 38 days on market
Other Parking: Downtown Street and Lots
Finished
Built in 1909, Living area: 2326
County/Parish: Buncombe
Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
Year Built
Listing Agency:
Whitney Commercial Real Estate
(828) 665-9085
Listed By:
Austin Walker · License NC #227527
(828) 713-0777
Source:
Blackstreaminternational
Added: Sep 21
Changed: Nov 12
Last Checked: Nov 12 at 7:42AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Asheville’s Commerce Building, Suite 402 is an office unit with original exposed brick walls and windows facing the rear courtyard. The 1909 building was designed by Richard Sharp Smith in the Renaissance Palazzo style and originally housed Central Bank and Trust Company.
The property is on Jackson Row in downtown Asheville’s Pack Square area, near restaurants, coffee shops, and retail. Building features include a private parking garage and renovations to offices and common areas, including new paint, carpet, restrooms, and a renovated lobby. Full-service lease structures include utilities, janitorial service, repairs and maintenance, and property management.
The property is on Jackson Row in downtown Asheville’s Pack Square area, near restaurants, coffee shops, and retail. Building features include a private parking garage and renovations to offices and common areas, including new paint, carpet, restrooms, and a renovated lobby. Full-service lease structures include utilities, janitorial service, repairs and maintenance, and property management.
Key Highlights
- Suite 402 features original exposed brick walls
- Windows overlook the rear courtyard
- Full‑service lease structures include utilities, janitorial service, repairs and maintenance, and property management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,155
Suggested Prices Based on Cap Rates
Cap Rate 5%
$863,100
$863.1K
Cap Rate 7%
$616,500
$616.5K
Cap Rate 9%
$479,500
$479.5K
Market Conditions
NOI Build-Up for 2,326 SF
Gross rent
$58.9K $25.32/SF
− Vacancy
−$1.4K −$0.58/SF
EGI
$57.5K $24.74/SF
− OpEx
−$14.4K −$6.18/SF
NOI
$43.2K $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%
$863,100
Cap Rate 7%
$616,500
Cap Rate 9%
$479,500
Alternative Uses
Best Use
Office B
$616.5K
$539.4K – $719.3K
NOI $43,155 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$735.5K
$643.6K – $858.1K
NOI $51,486 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,196
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
$481,400
Median Home Value
Market
Average Price Trend$/SF for Office Units in Asheville, NC
Properties on Market for Office Units in Asheville
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The suite has courtyard-facing windows, and full-service leasing covers utilities, janitorial service, repairs, maintenance, and management.
Where is this office unit located?
The property is located at 18 S Pack Square #402 Asheville, NC.
What are key features of this property?
This property features: Suite 402 features original exposed brick walls; Windows overlook the rear courtyard; Full‑service lease structures include utilities, janitorial service, repairs and maintenance, and property management
