Office Condominium with Conference
For Sale
$775,000
64 Clingman Ave Unit 101, Asheville, NC 28801
Configured for business users with private offices, meeting rooms, support areas, and dedicated parking.
Property Size3,326 SF
Price / SF$233.01
Days on Market78
Property Features for 64 Clingman Ave Unit 101
General Information
Standard status
Active
Size
3,326 SF
Total Parking Spaces
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2002
Listing Agency:
Likewise Commercial Real Estate
Listed By:
Carla Barnard · License #286709
(828) 575-0272
Source:
Highperformancerea
Added: Aug 3
Changed: Oct 8
Last Checked: Oct 7 at 2:07PM
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.
This 3,326-square-foot office condominium, built in 2002, provides a business-ready configuration within a single suite. The interior includes nine private offices, three conference rooms, two bathrooms, a kitchenette, and storage areas. One dedicated parking space is included, with additional street parking nearby and free public parking at Aston Park. CBD zoning supports its central business district setting.
The property is positioned for access to downtown Asheville, the South Slope, River Arts District, and Biltmore Village. I-240 is less than 0.5 miles away, while I-26 is approximately 2.5 miles from the property. Patton Avenue, identified as US 19/23/70, Merrimon Avenue via US 25, and Haywood Road provide additional routes through the surrounding area.
The property is positioned for access to downtown Asheville, the South Slope, River Arts District, and Biltmore Village. I-240 is less than 0.5 miles away, while I-26 is approximately 2.5 miles from the property. Patton Avenue, identified as US 19/23/70, Merrimon Avenue via US 25, and Haywood Road provide additional routes through the surrounding area.
Key Highlights
- 3,326 SF office condominium built in 2002
- Nine private offices and three conference rooms
- Two bathrooms, kitchenette, and dedicated storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,708
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,234,160
$1.2M
Cap Rate 7%
$881,543
$881.5K
Cap Rate 9%
$685,644
$685.6K
Market Conditions
NOI Build-Up for 3,326 SF
Gross rent
$84.2K $25.32/SF
− Vacancy
−$1.9K −$0.58/SF
EGI
$82.3K $24.74/SF
− OpEx
−$20.6K −$6.18/SF
NOI
$61.7K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,234,160
Cap Rate 7%
$881,543
Cap Rate 9%
$685,644
Alternative Uses
Best Use
Office B
$881.5K
$771.4K – $1.03M
NOI $61,708 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$920.3K – $1.23M
NOI $73,621 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,625
Businesses Nearby
Explore this area
Business Placement
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Configured for business users with private offices, meeting rooms, support areas, and dedicated parking.
Where is this office unit located?
The property is located at 64 Clingman Ave Unit 101 Asheville, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 3,326 SF office condominium built in 2002; Nine private offices and three conference rooms; Two bathrooms, kitchenette, and dedicated storage areas
