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    Prime Retail Space Near Biltmore Title is generated by Realmo AI

    190 Hendersonville Road, Asheville, NC 28803

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    For Lease
    $6,635/Mo $33 SF/Yr (calc)

    COMMERCIAL - Asheville, NC

    Type:Retail
    Property size:
    2,412 SF
    Lot size:
    1.40 Acres
    Added:
    Jan 15, 2026
    Days on Market:
    125
    Last Refresh:
    May 20 at 7:06 am

    Property Features for 190 Hendersonville Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    HB
    Parking
    100
    Standard status
    Active
    APN
    9647781643
    Size
    2,412 SF
    Lot size
    1.40 Acres

    Taxes and HOA fees

    Tax Description
    Deed Date:04/11/2019 Deed:5760-0120 Lot:B Plat:0208-0190

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    2021

    We can help!

    Listing Contact
    Joshua Wilson

    Listing agent Joshua Wilson

    Listing office Keller Williams Elite Realty 79 Turtle Creek Drive, asheville, NC

    Listing date Jan 15, 2026

    MLS# 4336988

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime end‑cap location with outdoor patio
    • High‑traffic area adjacent to Starbucks and a new AC Hotel
    • Open floor plan (2,412 sqft) suitable for various up‑fits
    • Excellent accessibility with (4) access doors
    • Conveniently located near Biltmore Village, Downtown Asheville, I‑40, and Biltmore House entrance
    • Located at a dedicated traffic light

    Overview

    This 2,412 sqft commercial space is located just above and south of Biltmore Village, adjacent to a new AC Hotel, 2.5 miles from Downtown Asheville, and 0.4 miles from Interstate I-40 and the Biltmore House entrance gate. The building benefits from a dedicated traffic light. Currently built out as a RockBox Fitness studio, the space is vacating and features an open floor plan suitable for various up-fits. It includes an outdoor patio and is situated on an end cap, a few steps away from a Starbucks. There are four access doors: two at the front, one on the side leading to the patio, and one at the rear. The property is zoned HB and is available for lease under a triple net lease agreement at $28 per square foot, plus $5.01 CAM. The lot size is 1.4 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    RockBox Fitness Asheville Gym & Fitness Center Christine Dugan, Engel ... Real Estate Agency Engel & Völkers Asheville Real Estate Agency InMotion Wellness Studio ... Gym & Fitness Center HOTWORX - Asheville, NC ... Gym & Fitness Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.540921
    Latitude
    35.563075

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    FAQs

    What type of property is this?
    Retail space - 2,412 sqft retail space near Biltmore Village.
    Where is this retail space located?
    The property is located at 190 Hendersonville Road Asheville, NC.
    What is the lease rate?
    The lease rate is $6,635 /Mo.
    What are key features of this property?
    This property features: Prime end‑cap location with outdoor patio; High‑traffic area adjacent to Starbucks and a new AC Hotel; Open floor plan (2,412 sqft) suitable for various up‑fits
    (828) 329-3248
    We can help!
    Listing Contact
    Joshua Wilson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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