Reconstructed Flex Space with
For Sale
$1,200,000
22 Stoner Road, Asheville, NC 28803
Open commercial layout with hospitality improvements, food-truck hookups, and an ADA-compliant restroom.
Property Size3,000 SF
Price / SF$400
Days on Market40
Property Features for 22 Stoner Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Amenities
custom bar
commercial wash sink
ADA-compliant restroom
smart wall-mounted bathroom heaters
illuminated smart mirrors
commercial-grade dishwasher
food truck hookup
Containest office/flex space
storage container
Building Details
Year Built
1978
Listing Agency:
Cool Mountain Realty
(828) 628-3088
Listed By:
Sophia Carliss · License #300321
Source:
Techrealtyllc
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 23 at 7:55AM
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 Cool Mountain Realty
Investment Insights
Based on property information with market context.
This reconstructed flex-space property offers an open commercial interior with a custom bar, commercial wash and handwashing sinks, an ADA-compliant restroom, smart bathroom fixtures, and a commercial dishwasher. The building was rebuilt after Hurricane Helene with commercial-grade flood-resistant materials, engineered construction methods, and VRR Plus vinyl-faced insulated wall panels. Infrastructure is in place for infrared heating, with gas radiant heating and cooling also available as options. A 50-amp electrical connection and water supply support a dedicated food-truck station, while the interior can accommodate dining, bar seating, tables, and a stage.
The property is located at 22 Stoner Rd in Asheville, approximately one mile from Historic Biltmore Village and within the Swannanoa River Corridor. New residential construction surrounds the site. An assembly permit has been issued, and engineering, permitting, floodplain compliance, and a Flood Elevation Certificate have been completed.
Additional permanently installed improvements include a 160-square-foot Containest office/flex unit and a 320-square-foot High Cube Connex storage container, adding approximately 480 square feet beyond the primary building.
The property is located at 22 Stoner Rd in Asheville, approximately one mile from Historic Biltmore Village and within the Swannanoa River Corridor. New residential construction surrounds the site. An assembly permit has been issued, and engineering, permitting, floodplain compliance, and a Flood Elevation Certificate have been completed.
Additional permanently installed improvements include a 160-square-foot Containest office/flex unit and a 320-square-foot High Cube Connex storage container, adding approximately 480 square feet beyond the primary building.
Key Highlights
- Flex‑space building reconstructed after Hurricane Helene with flood‑resistant materials and engineered construction
- Assembly permit issued; engineering, permitting, floodplain compliance, and Flood Elevation Certificate completed
- 50‑amp electrical service and water connections for a dedicated food‑truck hookup
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
$41,935
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
3.49%
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%
$838,700
$838.7K
Cap Rate 7%
$599,071
$599.1K
Cap Rate 9%
$465,944
$465.9K
Market Conditions
NOI Build-Up for 3,000 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
$56.9K $18.96/SF
− Vacancy
−$967 −$0.32/SF
EGI
$55.9K $18.64/SF
− OpEx
−$14.0K −$4.66/SF
NOI
$41.9K $13.98/SF
Area
Buncombe County, NC
Vacancy
1.70%
Lease Rate
$18.96 /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%
$838,700
Cap Rate 7%
$599,071
Cap Rate 9%
$465,944
Alternative Uses
Best Use
Specialty Retail
$599.1K
$524.2K – $698.9K
NOI $41,935 @ 7.0% cap · market cap 3.49%
Second Best
Industrial
$298.7K
$261.3K – $348.4K
NOI $20,906 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$948.6K
$830.1K – $1.11M
NOI $66,405 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28803, NC
34,108
Population
18,322
Households
1.9
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
38.4 sq mi
ZIP Area
888
Density / Sq Mi
$70,638
Median Household Income
$41,057
Median Earnings
$1,455
Median Rent
$408,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Verbena Events — MAHEC Campus, UNC Health Sciences Building, 121 Hendersonville Rd, Asheville, NC 28803
- Chaunie’s Coffee — 22 Stoner Rd, Asheville, NC 28803
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout with hospitality improvements, food-truck hookups, and an ADA-compliant restroom.
Where is this flex space located?
The property is located at 22 Stoner Road Asheville, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Flex‑space building reconstructed after Hurricane Helene with flood‑resistant materials and engineered construction; Assembly permit issued; engineering, permitting, floodplain compliance, and Flood Elevation Certificate completed; 50‑amp electrical service and water connections for a dedicated food‑truck hookup
