Remediated Corner Retail
5 Boston Way Asheville, NC 28803
5 Boston Way, Asheville, NC, 28803
$998,000
For Sale
$998,000
Remediated corner retail building in historic Biltmore Village, with top floor unaffected and bottom floor ready for a new buildout.
Property Size3,200 SF
Price / SF$311.88
Days on Market398
Property Features for 5 Boston Way
General Information
- Standard status
- Active
- Size
- 3,200 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1895
Listing agency
Beverly-Hanks, Executive Park
(828) 768-7425
Listed by
Rick Tisdale · License #197215
(828) 768-7425
Source
Xome
Added: Jun 19, 2025 Updated: Jul 20 at 11:51PM Checked: Jul 21 at 3:12AM
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 Beverly-Hanks, Executive Park
Investment Insights
Based on property information with market context.
This remediated corner retail building is located in historic Biltmore Village and was previously used as a Christmas shop. The property has been remediated by a professional company, and the top floor is reported to be unharmed, while the bottom floor is ready for a fresh buildout.
The building sits at the corner of Boston Way and Swan St., offering retail space in the heart of Biltmore Village. Over 3,200 square feet of space are noted in the remarks.
The current condition supports immediate planning for a new interior design and tenant fit on the bottom floor, while the top floor remains unaffected, subject to a buyer’s verification during due diligence.
The building sits at the corner of Boston Way and Swan St., offering retail space in the heart of Biltmore Village. Over 3,200 square feet of space are noted in the remarks.
The current condition supports immediate planning for a new interior design and tenant fit on the bottom floor, while the top floor remains unaffected, subject to a buyer’s verification during due diligence.
Key Highlights
- Remediated corner retail building in historic Biltmore Village at the corner of Boston Way and Swan St.
- Over 3,200 sqft of space, with the top floor reported as unharmed and the bottom floor ready for a new buildout.
- Corner lot that is wooded and level.
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 | $54.5k | $17.04 |
| − Vacancy | −$927 | −$0.29 |
| EGI | $53.6k | $16.75 |
| − OpEx | −$16.1k | −$5.03 |
| NOI | $37.5k | $11.73 |
3,200 SF · lease $17.04/SF/yr · vacancy 1.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$536.0K
$469.0K – $625.4K
NOI $37,521 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$885.4K – $1.18M
NOI $70,832 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Olde World Christmas ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Memorial Campus Gift Shop — 509 Biltmore Ave, Asheville, NC 28801
FAQs
What type of property is this?
Storefront property - Remediated corner retail building in historic Biltmore Village, with top floor unaffected and bottom floor ready for a new buildout.
Where is this storefront property located?
The property is located at 5 Boston Way Asheville, NC.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Remediated corner retail building in historic Biltmore Village at the corner of Boston Way and Swan St.; Over 3,200 sqft of space, with the top floor reported as unharmed and the bottom floor ready for a new buildout.; Corner lot that is wooded and level.
