Creative Office Space with
For Sale
$2,400,000
19 Rankin Avenue #1B, Asheville, NC 28801
Creative office unit in Rankin Press Lofts with high ceilings, skylights, and a flexible mix of private offices and open space.
Property Size4,768 SF
Price / SF$503.36
Days on Market113
Property Features for 19 Rankin Avenue #1B
General Information
Standard status
Active
Size
4,768 SF
Property subtype
Commercial
Building Details
Year Built
2014
Listing Agency:
NAI Allen Tate Beverly-Hanks Commercial
(828) 210-3940
Listed By:
Chris Mansfield · License ##340236
Source:
Techrealtyllc
Added: Apr 9
Changed: Jul 30
Last Checked: Jul 30 at 4:03AM
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 NAI Allen Tate Beverly-Hanks Commercial
Investment Insights
Based on property information with market context.
Unit 1B at 19 Rankin Avenue offers approximately 4,768 SF of creative office space within the Rankin Press Lofts, a distinctive mixed-use building. The space is being established through the subdivision of the existing Unit 1 into Units 1A and 1B, creating newly defined occupancy within a proven property.
Inside, the unit features high ceilings, skylights, and a flexible layout combining private offices and open areas. An adjacent covered outdoor parking area is also included, currently used for vehicle access and parking.
Built in 2014, the unit is positioned as a versatile option for creative office users, studios, or other adaptive workspace concepts that can take advantage of the interior volume and natural light provided by the skylights.
Inside, the unit features high ceilings, skylights, and a flexible layout combining private offices and open areas. An adjacent covered outdoor parking area is also included, currently used for vehicle access and parking.
Built in 2014, the unit is positioned as a versatile option for creative office users, studios, or other adaptive workspace concepts that can take advantage of the interior volume and natural light provided by the skylights.
Key Highlights
- Approximately 4,768 SF creative office unit (Unit 1B) in Rankin Press Lofts
- Unit 1 is being subdivided into Units 1A and 1B to establish this newly defined space
- High ceilings and skylights
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.7k | $25.32 |
| − Vacancy | −$2.8k | −$0.58 |
| EGI | $117.9k | $24.74 |
| − OpEx | −$29.5k | −$6.18 |
| NOI | $88.5k | $18.55 |
4,768 SF · lease $25.32/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.26M
$1.11M – $1.47M
NOI $88,462 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,539 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,310
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Creative space - Creative office unit in Rankin Press Lofts with high ceilings, skylights, and a flexible mix of private offices and open space.
Where is this creative space located?
The property is located at 19 Rankin Avenue #1B Asheville, NC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approximately 4,768 SF creative office unit (Unit 1B) in Rankin Press Lofts; Unit 1 is being subdivided into Units 1A and 1B to establish this newly defined space; High ceilings and skylights
