Freestanding Corner Retail
For Sale
Contact for pricing
2124 HENDERSONVILLE RD ARDEN NC 28704-5704, Arden, NC 28704
Corner-lot building with strong signage exposure and highway business zoning for flexible retail and service uses.
Property Size2,262 SF
Price / SF$309.02
Days on Market65
Property Features for 2124 HENDERSONVILLE RD ARDEN NC 28704-5704
General Information
Standard status
Active
Size
2,262 SF
Total Parking Spaces
13
Property subtype
Retail, Office
Zoning
HB
Site & Location
Traffic Count
32,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1960
Listing Agency:
Likewise Commercial Real Estate
(828) 575-0272
Listed By:
Abigail Farrow · License #NC 302812
Source:
Crexi
Added: Jun 4
Changed: Jul 10
Last Checked: Aug 6 at 4:01AM
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 Likewise Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding commercial building offers approximately 2,262 square feet on a corner lot. The property provides prominent signage exposure and approximately 86 feet of road frontage, positioned adjacent to a signalized intersection on Hendersonville Road and Long Shoals Road. Parking is available on site with approximately 13 spaces, supporting convenient customer or staff access.
The site benefits from high visibility along one of South Asheville’s most prominent and highly trafficked retail corridors, with approximately 32,000 vehicles per day and strong street presence. The property is zoned Highway Business (HB), allowing for a wide range of retail, office, medical, and service-oriented uses. It is located less than 1 mile from NC Highway 191, approximately 2 miles from Interstate 26, and within 8 miles of Downtown Asheville, providing straightforward connectivity across the Asheville MSA.
For prospective tenants or owner-occupants, the combination of corner placement, roadway visibility, on-site parking, and HB zoning can support a variety of storefront and professional uses. For buyers, the property’s established presence on a major commercial corridor provides an on-the-ground option for an operator seeking a standalone location or an investor looking to acquire a commercially visible asset. Contact the Listing Broker, Abigail Farrow, for showing requests, with showings on Mondays only.
The site benefits from high visibility along one of South Asheville’s most prominent and highly trafficked retail corridors, with approximately 32,000 vehicles per day and strong street presence. The property is zoned Highway Business (HB), allowing for a wide range of retail, office, medical, and service-oriented uses. It is located less than 1 mile from NC Highway 191, approximately 2 miles from Interstate 26, and within 8 miles of Downtown Asheville, providing straightforward connectivity across the Asheville MSA.
For prospective tenants or owner-occupants, the combination of corner placement, roadway visibility, on-site parking, and HB zoning can support a variety of storefront and professional uses. For buyers, the property’s established presence on a major commercial corridor provides an on-the-ground option for an operator seeking a standalone location or an investor looking to acquire a commercially visible asset. Contact the Listing Broker, Abigail Farrow, for showing requests, with showings on Mondays only.
Key Highlights
- Freestanding 2,262 SF commercial building on a corner lot at the Hendersonville Rd and Long Shoals Rd signalized intersection
- Approximately 86 ft of road frontage with prominent signage exposure and an estimated 32,000 vehicles per day
- Zoned Highway Business (HB), supporting a wide range of retail, office, medical, and service‑oriented uses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,967
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$839,340
$839.3K
Cap Rate 7%
$599,529
$599.5K
Cap Rate 9%
$466,300
$466.3K
Market Conditions
NOI Build-Up for 2,262 SF
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.
Gross rent
$57.3K $25.32/SF
− Vacancy
−$1.3K −$0.58/SF
EGI
$56.0K $24.74/SF
− OpEx
−$14.0K −$6.18/SF
NOI
$42.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$839,340
Cap Rate 7%
$599,529
Cap Rate 9%
$466,300
Alternative Uses
Best Use
Office B
$599.5K
$524.6K – $699.5K
NOI $41,967 @ 7.0% cap · market cap 6.00%
Second Best
Retail
$378.9K
$331.5K – $442.0K
NOI $26,522 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$715.3K
$625.9K – $834.5K
NOI $50,069 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 28704, NC
23,734
Population
11,514
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
30.1 sq mi
ZIP Area
789
Density / Sq Mi
$79,088
Median Household Income
$39,072
Median Earnings
$1,369
Median Rent
$343,600
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?
Retail space - Corner-lot building with strong signage exposure and highway business zoning for flexible retail and service uses.
Where is this retail space located?
The property is located at 2124 HENDERSONVILLE RD ARDEN NC 28704-5704 Arden, NC.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Freestanding 2,262 SF commercial building on a corner lot at the Hendersonville Rd and Long Shoals Rd signalized intersection; Approximately 86 ft of road frontage with prominent signage exposure and an estimated 32,000 vehicles per day; Zoned Highway Business (HB), supporting a wide range of retail, office, medical, and service‑oriented uses
