Corner Storefront with Large
For Sale
$325,000
475 Deaverview Road, Asheville, NC 28806
Commercial Sale, Asheville, NC
Property Size2,219 SF
Lot Size0.39 Acres
Price / SF$146.46
Days on Market43
Property Features for 475 Deaverview Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBI
Zoning description
CBI
Rooms
Basement
Basement
Exterior Entry
Lot features
Corner Lot, Green Area
Directions
From Patton Ave. go 1.2 miles and building will be on your right. There is parking to the left of the building.
Standard status
Active
APN
9628-16-4757-00000
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Deed Date: 06/06/1994 Deed: 1801-0683 Subdiv: Block: Lot: Section: Plat: 0000-0000
Legal Description
Deed Date: 06/06/1994 Deed: 1801-0683 Subdiv: Block: Lot: Section: Plat: 0000-0000
Utilities
Sewer type
Public Sewer
Amenities
kitchen
two half bathrooms
adaptable spaces
large yard
Building Details
Year built
1938
Flooring type
Concrete, Carpet, Linoleum
Listing Agency:
Mosaic Community Lifestyle Realty
(828) 707-9556
Listed By:
Chris Findley
(828) 242-9775
Added: Jul 25
Changed: Aug 31
Last Checked: Sep 5 at 7:06AM
MLS# 4407316
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property includes 2,219 square feet of interior space on a 0.39-acre parcel. The layout features a kitchen, two half bathrooms, a basement, and a mix of concrete, carpet, and linoleum flooring. The building dates to 1938 and is served by public sewer. Interior areas can be configured for commercial or professional uses, subject to confirmation of CBI zoning, permitted uses, and occupancy requirements.
A large yard and off-street parking complement the building. The property occupies a visible corner location on Deaverview Road in West Asheville, with access from a convenient commercial setting. Future use of the yard for additional parking, outdoor space, or expansion would require applicable approvals.
A large yard and off-street parking complement the building. The property occupies a visible corner location on Deaverview Road in West Asheville, with access from a convenient commercial setting. Future use of the yard for additional parking, outdoor space, or expansion would require applicable approvals.
Key Highlights
- 2,219‑square‑foot storefront building on 0.39 acres
- CBI zoning; buyer to confirm permitted uses and occupancy requirements
- Kitchen and two half bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,018
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,360
$520.4K
Cap Rate 7%
$371,686
$371.7K
Cap Rate 9%
$289,089
$289.1K
Market Conditions
NOI Build-Up for 2,219 SF
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.
Gross rent
$37.8K $17.04/SF
− Vacancy
−$643 −$0.29/SF
EGI
$37.2K $16.75/SF
− OpEx
−$11.2K −$5.03/SF
NOI
$26.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,360
Cap Rate 7%
$371,686
Cap Rate 9%
$289,089
Alternative Uses
Best Use
Retail
$371.7K
$325.2K – $433.6K
NOI $26,018 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.7K
$614.0K – $818.6K
NOI $49,117 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial building includes a kitchen, two half bathrooms, and off-street parking.
Where is this storefront property located?
The property is located at 475 Deaverview Road Asheville, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,219‑square‑foot storefront building on 0.39 acres; CBI zoning; buyer to confirm permitted uses and occupancy requirements; Kitchen and two half bathrooms
