Freestanding Retail
396 New Leicester Highway Asheville, NC 28806
396 New Leicester Highway, Asheville, NC, 28806
$795,000
For Sale
$795,000
Freestanding commercial building with prime frontage along NC-63 and high estimated daily traffic counts.
Property Size2,544 SF
Price / SF$312.50
Days on Market50
Property Features for 396 New Leicester Highway
General Information
- Standard status
- Active
- Size
- 2,544 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1998
Listing agency
DEWEY PROPERTY ADVISORS
(828) 548-0090
Listed by
TIM BRAMLEY · License #271946
Source
Corcoran
Added: Jun 3 Updated: Jul 21 at 3:57AM Checked: Jul 21 at 3:57AM
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 DEWEY PROPERTY ADVISORS
Investment Insights
Based on property information with market context.
396 New Leicester Highway is a freestanding commercial retail building totaling 2,544 SF. The property is positioned for strong visibility and easy access along New Leicester Highway (NC-63).
The site sits approximately 4 miles northwest of downtown Asheville and benefits from estimated daily traffic counts between 20,000 and 33,000 vehicles per day, supporting consistent drive-by exposure. It is located within a growing commercial corridor serving West Asheville and Leicester, with a surrounding mix of neighborhood retail, dining, and service-oriented businesses.
With population exceeding 99,000 within a 5-mile radius and continued growth projected, the property offers an established retail setting for an owner-user or investor seeking a high-traffic location in the West Asheville market.
The site sits approximately 4 miles northwest of downtown Asheville and benefits from estimated daily traffic counts between 20,000 and 33,000 vehicles per day, supporting consistent drive-by exposure. It is located within a growing commercial corridor serving West Asheville and Leicester, with a surrounding mix of neighborhood retail, dining, and service-oriented businesses.
With population exceeding 99,000 within a 5-mile radius and continued growth projected, the property offers an established retail setting for an owner-user or investor seeking a high-traffic location in the West Asheville market.
Key Highlights
- 2,544 SF freestanding commercial building built in 1998
- Prime frontage along New Leicester Highway (NC‑63)
- Estimated daily traffic counts of 20,000–33,000 VPD
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.3k | $17.04 |
| − Vacancy | −$737 | −$0.29 |
| EGI | $42.6k | $16.75 |
| − OpEx | −$12.8k | −$5.03 |
| NOI | $29.8k | $11.73 |
2,544 SF · lease $17.04/SF/yr · vacancy 1.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$426.1K
$372.9K – $497.2K
NOI $29,829 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$804.4K
$703.9K – $938.5K
NOI $56,311 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Terminix
Garden Center
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Freestanding commercial building with prime frontage along NC-63 and high estimated daily traffic counts.
Where is this retail space located?
The property is located at 396 New Leicester Highway Asheville, NC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,544 SF freestanding commercial building built in 1998; Prime frontage along New Leicester Highway (NC‑63); Estimated daily traffic counts of 20,000–33,000 VPD
