Historic Office
18 S Pack Square #403, Asheville, NC 28801
For Sale
Contact for pricing
A professionally updated workspace in downtown Asheville includes access to a private on-site parking garage.
Property Size1,909 SF
Price / SF$0.02
Days on Market55
Property Features for 18 S Pack Square #403
General Information
Standard status
Size
Property subtype
Amenities
historic features
view of Pack Square
abundant natural light
new restrooms
lobby renovations
Additional parcels description:, Parcel Number: 9649-40-6331-00000, Assessed Value: $1.08096e+07
Listing ID: CAR4427023, 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: 1160
County/Parish: Buncombe
Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
Year Built
Construction
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 8:20AM
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 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.
This 1,160-square-foot office unit is located in the Commerce Building, a 1909 structure designed by Richard Sharp Smith in the Renaissance Palazzo style. The building originally served as the Central Bank and Trust Company. Updates across the building group include refreshed office and common-area paint and carpet, renovated restrooms, and lobby improvements.
At 18 S Pack Square, the property is in downtown Asheville near restaurants, coffee shops, and retail. A private parking garage is available on site. The building stands between the Westall and Legal buildings on Jackson Row.
At 18 S Pack Square, the property is in downtown Asheville near restaurants, coffee shops, and retail. A private parking garage is available on site. The building stands between the Westall and Legal buildings on Jackson Row.
Key Highlights
- 1,160‑square‑foot office unit in the Commerce Building
- 1909 building designed by Richard Sharp Smith
- Private parking garage on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,522
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,440
$430.4K
Cap Rate 7%
$307,457
$307.5K
Cap Rate 9%
$239,133
$239.1K
Market Conditions
NOI Build-Up for 1,160 SF
Gross rent
$29.4K $25.32/SF
− Vacancy
−$676 −$0.58/SF
EGI
$28.7K $24.74/SF
− OpEx
−$7.2K −$6.18/SF
NOI
$21.5K $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%
$430,440
Cap Rate 7%
$307,457
Cap Rate 9%
$239,133
Alternative Uses
Best Use
Office B
$307.5K
$269.0K – $358.7K
NOI $21,522 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.8K
$321.0K – $427.9K
NOI $25,676 @ 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 - A professionally updated workspace in downtown Asheville includes access to a private on-site parking garage.
Where is this office unit located?
The property is located at 18 S Pack Square #403 Asheville, NC.
What are key features of this property?
This property features: 1,160‑square‑foot office unit in the Commerce Building; 1909 building designed by Richard Sharp Smith; Private parking garage on site
