Flex Building with Warehouse
New
For Sale
$2,299,000
36 Old Shoals Rd, Arden, NC 28704
Office and warehouse areas include conditioned and heated space, with three roll-up doors.
Property Size15,318 SF
Price / SF$150.08
Days on Market2
Property Features for 36 Old Shoals Rd
General Information
Standard status
Active
Size
15,318 SF
Total Parking Spaces
30
Property subtype
Commercial
Warehouse & Industrial
Mezzanine
600 SF
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1944
Buildings
1
Building Size
15,318 SF
Listed By:
David Upchurch
(704) 815-6995
Source:
Carolinahomeclick
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 5 at 4:54PM
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 David Upchurch
Investment Insights
Based on property information with market context.
The 15,318-square-foot flex property combines office area with several warehouse sections. A 7,500-square-foot portion is conditioned, while another 1,600-square-foot area is heated and has 16-foot ceilings. A 600-square-foot mezzanine adds interior area. The building has three roll-up doors and 30 parking spaces. Construction dates vary: portions date to 1944, while most of the building was built in 1970; significant renovations took place during the 2000s.
At 36 Old Shoals Road in Arden, the property sits just off the Airport Road corridor and approximately 2 miles from Interstate 26. Restaurants, retail and residential amenities in South Asheville are within a few minutes' drive.
At 36 Old Shoals Road in Arden, the property sits just off the Airport Road corridor and approximately 2 miles from Interstate 26. Restaurants, retail and residential amenities in South Asheville are within a few minutes' drive.
Key Highlights
- 15,318‑square‑foot flex building with office and warehouse space
- 7,500‑square‑foot conditioned warehouse area
- 1,600‑square‑foot heated warehouse with 16‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,620
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,592,400
$2.6M
Cap Rate 7%
$1,851,714
$1.9M
Cap Rate 9%
$1,440,222
$1.4M
Market Conditions
NOI Build-Up for 15,318 SF
Gross rent
$156.2K $10.20/SF
− Vacancy
−$3.7K −$0.24/SF
EGI
$152.5K $9.96/SF
− OpEx
−$22.9K −$1.49/SF
NOI
$129.6K $8.46/SF
Area
Buncombe County, NC
Vacancy
2.40%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,592,400
Cap Rate 7%
$1,851,714
Cap Rate 9%
$1,440,222
Alternative Uses
Best Use
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,620 @ 7.0% cap · market cap 5.64%
Second Best
Industrial
$1.52M
$1.33M – $1.78M
NOI $106,746 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$4.84M
$4.24M – $5.65M
NOI $339,063 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Balanced
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Colorful Palate Catering (kitchen) — 3871 sweeten creek road suites f&g, arden, nc 28704
- Fioreously Delicious, Inc. — 3871 Sweeten Creek Rd Suite F, Arden, NC 28704
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas include conditioned and heated space, with three roll-up doors.
Where is this flex space located?
The property is located at 36 Old Shoals Rd Arden, NC.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: 15,318‑square‑foot flex building with office and warehouse space; 7,500‑square‑foot conditioned warehouse area; 1,600‑square‑foot heated warehouse with 16‑foot ceilings
