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    3 S Tunnel Rd Asheville, NC 28805

    Sponsored
    For Sale
    $5,100,000

    Former Department Store at Asheville Mall

    Property size:
    130,500 SF

    Description

    Added:
    Jan 7, 2026
    Days on Market:
    2
    Asheville Mall is a prominent shopping destination in the area conveniently located off I-240 on Tunnel Road, making it easily accessible from different parts of the city and beyond. Close to several other attractions such as the Biltmore Estate, downtown.

    Asheville's historic district, and the Blue Ridge Parkway, making it a central spot for shopping and dining. The mall features major department stores such as Belk and Dillard's, along with over 100 specialty shops.

    Zoning: Urban Place Form Code District as part of the Urban Centers initiative to promote transit-supportive growth and development

    Property Features for 3 S Tunnel Rd

    General Information

    Property type
    Other retail properties
    Square Feet
    130,500 SF
    Location Intelligence

    Current Use by Public Records

    Zumiez Clothing Store Eddie Bauer Clothing Store Lane Bryant Plus Size Clothing Store Hollister Co. Clothing Store Maurices Women'S Clothing Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop 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
    State
    North Carolina
    Longitude
    -82.526106
    Latitude
    35.5816697

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    FAQs

    What type of property is this?
    Other retail property - Former Department Store at Asheville Mall
    Where is this other retail property located?
    The property is located at 3 S Tunnel Rd Asheville, NC.
    What is the asking price?
    The asking price for this property is $5,100,000.
    (214) 560-3251
    Request Owner's contact information
    3 S Tunnel Rd Asheville, NC 28805
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    Asheville, NC 28805
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    Realmo Value Estimation

    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.

    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.

    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
    3 S Tunnel Rd Asheville, NC 28805
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