Downtown Asheville Mixed-Use
For Sale
$1,690,000
43 Broadway St, Asheville, NC 28801
5,968 SF mixed-use property in the heart of downtown Asheville.
Property Size5,968 SF
Price / SF$283.18
Days on Market274
Property Features for 43 Broadway St
General Information
Standard status
Active
Size
5,968 SF
Building Details
Year Built
1915
Listing Agency:
Likewise Commercial Real Estate
Listed By:
Abigail Farrow · License #302812
(828) 333-2380
Source:
Lewisandkirk
Added: Jan 26
Changed: Oct 25
Last Checked: Oct 7 at 1:30PM
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 Likewise Commercial Real Estate
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Investment Insights
Based on property information with market context.
Located in downtown Asheville, this 5,968 SF mixed-use property features flexible CBD zoning and spans the entire block between Broadway St and Carolina Lane. It has 20 FT of road frontage on Broadway St, which sees 9,000 vehicles per day. The street-level retail space is suitable for an owner-user or as a prime investment property. The first floor has ceilings that are nearly 9 FT high, with room to go higher. The upper level, which could serve a variety of purposes, features a large open space with high ceilings, newer floor-to-ceiling windows, exposed brick walls, original pressed tin ceilings, and original wood floors. An unfinished basement provides storage space or renovation potential. The property is listed on the National Register of Historic Places.
Key Highlights
- Prime downtown Asheville location with flexible CBD zoning.
- Significant size: 5,968 SF property running the full block between Broadway St and Carolina Lane.
- High traffic: 20 FT of road frontage on Broadway St with 9,000 VPD.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,976
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,520
$1.4M
Cap Rate 7%
$999,657
$999.7K
Cap Rate 9%
$777,511
$777.5K
Market Conditions
NOI Build-Up for 5,968 SF
Gross rent
$101.7K $17.04/SF
− Vacancy
−$1.7K −$0.29/SF
EGI
$100.0K $16.75/SF
− OpEx
−$30.0K −$5.03/SF
NOI
$70.0K $11.73/SF
Area
Buncombe County, NC
Vacancy
1.70%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,399,520
Cap Rate 7%
$999,657
Cap Rate 9%
$777,511
Alternative Uses
Best Use
Retail
$999.7K
$874.7K – $1.17M
NOI $69,976 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$911.2K
$797.3K – $1.06M
NOI $63,783 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,101 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,310
Businesses Nearby
138k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 37%
Shops & Services 26%
Groceries 15%
Office Supplies 8%
Whole Foods Market
Groceries
20,347 visits/mo
0.4 miles
Shell
Shops & Services
20,324 visits/mo
0.3 miles
Staples
Office Supplies
11,125 visits/mo
0.4 miles
State Employees Credit Union
Shops & Services
9,288 visits/mo
0.4 miles
Cambria Hotel Downtown Asheville
Hotels & Casinos
8,998 visits/mo
0.1 miles
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - 5,968 SF mixed-use property in the heart of downtown Asheville.
Where is this retail space located?
The property is located at 43 Broadway St Asheville, NC.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Prime downtown Asheville location with flexible CBD zoning.; Significant size: 5,968 SF property running the full block between Broadway St and Carolina Lane.; High traffic: 20 FT of road frontage on Broadway St with 9,000 VPD.
