Renovated Two-Tenant Storefront
For Sale
$750,000
645 & 647 Haywood Rd, Asheville, NC 28806
Fully leased asset with shared parking, rear employee spaces, and a fenced outdoor area.
Property Size2,250 SF
Price / SF$333.33
Days on Market55
Property Features for 645 & 647 Haywood Rd
General Information
Standard status
Active
Size
2,250 SF
Occupancy
100%
Additional Details
Gross Income
$54,000
Amenities
shared adjoining parking lot
dedicated employee parking
fenced-in outdoor area
Building Details
Year Built
1954
Year Renovated
2024
Tenancy
Multi
Listing Agency:
Trailblazer Realty LLC
Listed By:
Dean Pistor · License #149931
(828) 230-4422
Source:
Lewisandkirk
Added: Aug 21
Changed: Oct 3
Last Checked: Oct 7 at 5:08PM
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 Trailblazer Realty LLC
Investment Insights
Based on property information with market context.
This 2,250-square-foot storefront property at 645 & 647 Haywood Rd has been renovated and upfit in 2024. The building is fully leased to two complementary businesses: Potential New Boyfriend, a vinyl and dessert bar concept, and Franny’s Farmacy, a boutique CBD/THC retailer with an outdoor patio and garden lounge offering on-site consumption. A fenced exterior area adds usable space for the occupants and their customers.
The property sits along Haywood Road in Asheville’s West Asheville area, within a corridor characterized by retail, dining, and lifestyle businesses. Shared adjoining parking, along with dedicated employee parking behind the building, supports day-to-day operations. Existing leases have approximately four years remaining, include renewal options, and provide built-in 3% annual rent escalations.
The property sits along Haywood Road in Asheville’s West Asheville area, within a corridor characterized by retail, dining, and lifestyle businesses. Shared adjoining parking, along with dedicated employee parking behind the building, supports day-to-day operations. Existing leases have approximately four years remaining, include renewal options, and provide built-in 3% annual rent escalations.
Key Highlights
- 2,250 SF storefront property at 645 & 647 Haywood Rd in Asheville, NC
- Renovated and upfit in 2024
- Fully leased to two complementary tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,382
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,640
$527.6K
Cap Rate 7%
$376,886
$376.9K
Cap Rate 9%
$293,133
$293.1K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$38.3K $17.04/SF
− Vacancy
−$652 −$0.29/SF
EGI
$37.7K $16.75/SF
− OpEx
−$11.3K −$5.03/SF
NOI
$26.4K $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%
$527,640
Cap Rate 7%
$376,886
Cap Rate 9%
$293,133
Alternative Uses
Best Use
Retail
$376.9K
$329.8K – $439.7K
NOI $26,382 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$711.5K
$622.6K – $830.1K
NOI $49,804 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 69%
Shops & Services 31%
Ingles
Groceries
20,120 visits/mo
0.1 miles
Shell
Shops & Services
7,697 visits/mo
0.3 miles
SmartStop Self Storage
Shops & Services
1,176 visits/mo
0.5 miles
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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Similar Off Market Nearby
- Bloom Room — 508 Haywood Rd, Asheville, NC 28806, United States
Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased asset with shared parking, rear employee spaces, and a fenced outdoor area.
Where is this storefront property located?
The property is located at 645 & 647 Haywood Rd Asheville, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,250 SF storefront property at 645 & 647 Haywood Rd in Asheville, NC; Renovated and upfit in 2024; Fully leased to two complementary tenants
