Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    High-Exposure Storefront on Tunnel Road Title is generated by Realmo AI

    244 Tunnel Road, Asheville, NC 28805

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $25 SF/Yr

    Prime Asheville retail space with high visibility and traffic.

    Type:Retail
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 5 at 8:48 pm

    Property Features for 244 Tunnel Road

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1994

    Spaces For Lease

    at 244 Tunnel Road Contact us

    We can help!

    Listing Contact
    Wes Reinhardt

    Listing agent Wes Reinhardt License #NC #223401

    Listing office

    Listing date Mar 6, 2026

    Source Deweypa

    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 Wes Reinhardt

    HighLights

    • High‑exposure storefront in Asheville's busiest retail corridor (Tunnel Road).
    • Prime frontage with high visibility and customer access.
    • Located on a fully signalized hard corner.
    • Average daily traffic of approximately 19,000 vehicles.
    • Excellent local demographics.
    • Previously occupied by a national pet‑supply retailer.

    Overview

    Located in a highly visible and active retail corridor in Asheville, the property at 244 Tunnel Road offers a leasing opportunity for a storefront. Previously occupied by a national pet-supply retailer, the site benefits from frontage on Tunnel Road, with average daily traffic of approximately 19,000 vehicles. The location is described as a strong Tunnel Road location within Asheville's busiest retail corridor. The property is situated on a fully signalized hard corner and benefits from local demographics. Operating expenses are $6.25 per square foot.
    Location Intelligence

    Current Use by Public Records

    i.d. SPOT (Bike/Boat/Book/etc) Store Quick-Tag Shopping Center & Mall

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5267
    Latitude
    35.5856

    Nearby Similar for Lease

    • $22 SF/Yr
      5,600 SF

      Asheville Office Building For Lease

      Two-story brick office building in Asheville's Central Business District.
      71 N Market Street, Asheville, NC 28801
      View Details
    • $3,042/Mo
      1,460 SF

      Asheville Retail/Office/Medical Space

      1460 SF space in high-traffic Asheville corridor.
      168 Tunnel Road, Asheville, NC 28805
      View Details
    • $2,123/Mo
      1,000 SF

      Broadway Corridor Commercial Space

      Mixed-use space near downtown Asheville and Historic Montford Community.
      257 Broadway Street, Asheville, NC 28801
      View Details
    • $9,628/Mo
      10,000 SF

      Asheville Warehouse and Office Space

      Warehouse and office space in West Asheville with highway business zoning.
      5 Woodland Drive, Asheville, NC 28806
      View Details
    • $6,635/Mo
      2,412 SF

      Prime Retail Space Near Biltmore

      2,412 sqft retail space near Biltmore Village.
      190 Hendersonville Road, Asheville, NC 28803
      View Details
    • $2,292/Mo
      1,100 SF

      Downtown Asheville Retail Space Available

      Prime retail space in historic downtown Asheville building.
      25 Page Avenue, Asheville, NC 28801
      View Details
    • $38 SF/Yr

      Prime Retail Space in Asheville

      Exceptional visibility and foot traffic in Biltmore Village.
      5 All Souls Crescent, Asheville, NC 28803
      View Details
    • $12,500/Mo

      Prime Downtown Asheville Commercial Space

      First floor commercial space in a prime downtown Asheville location.
      124 College Street, Asheville, NC 28801
      View Details
    • $24 SF/Yr

      Downtown Asheville Office Space Available

      Exceptional office opportunity in the heart of downtown Asheville.
      175 Patton Avenue, Asheville, NC 28801
      View Details
    • $3,172/Mo

      Retail Space in Asheville Center

      Flexible retail space in Asheville's premier shopping center.
      4 S Tunnel Road, Asheville, NC 28805
      View Details
    • $8,000/Mo

      Downtown Asheville Office Space Available

      Prime downtown Asheville office space for lease with income potential.
      124 College Street, Asheville, NC 28801
      View Details
    • Sponsored
      $129-$5,586/Mo
      11-1,292 SF

      NC, Asheville - Biltmore Ave

      16 Biltmore Ave, Asheville, NC 28801
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime Asheville retail space with high visibility and traffic.
    Where is this storefront property located?
    The property is located at 244 Tunnel Road Asheville, NC.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: High‑exposure storefront in Asheville's busiest retail corridor (Tunnel Road).; Prime frontage with high visibility and customer access.; Located on a fully signalized hard corner.
    (828) 548-0090
    We can help!
    Listing Contact
    Wes Reinhardt
    Real Estate License ID: NC #223401
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    244 Tunnel Road, Asheville, NC 28805
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!