Downtown Asheville Office Investment
7 McDowell Street Units 100 & 300, Asheville, NC 28801
Two office units in downtown Asheville, recently renovated by tenant.
Type:Office - General Office
Property size:
6,410 SFLot size:
1.12 AcresPrice / SF:
$333/SF- Added:
- May 15, 2026
- Days on Market:
- 15
- Last Refresh:
- May 15 at 8:35 pm
Property Features for 7 McDowell Street Units 100 & 300
General Information
- Standard status
- Active
- Size
- 6,410 SF
- Lot size
- 1.12 Acres
- Property subtype
- Office - General Office
Building Details
- Year Built
- 1979
Listing agent Andrew Riddle
Listing office Whitney Commercial Real Estate
Listing date May 15, 2026
Source Commercialcafe
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 Whitney Commercial Real Estate
HighLights
- Prime downtown Asheville location with convenient access to amenities, dining, breweries, shops, and services.
- Long‑term national tenant, Labcorp, with recent interior renovations.
- Combined square footage of 6,410 across two units (100 & 300).
- Recent upgrades including a new roof and resurfaced asphalt parking lot.
- Located within view of Mission Hospital, a centralized location.
- Part of the 7 McDowell Street Condominiums on 1.117 acres.
Overview
Located in downtown Asheville, North Carolina, this property offers convenient access to dining, breweries, boutique shops, pharmacies, and healthcare facilities. Nearby landmarks include the Thomas Wolfe Memorial, Pack Square Park, and the Asheville Art Museum. The property features two units (100 & 300) with a combined area of 6,410 square feet, part of the 7 McDowell Street Condominiums. Constructed in 1979 on a 1.117-acre lot, the building has undergone recent upgrades, including a new roof and resurfaced asphalt parking lot. The tenant, Labcorp, has recently renovated the interior. The property is located in a centralized location, within view of Mission Hospital, presenting a compelling investment opportunity.
Local Financial Insights For Office B
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 | $162.3k | $25.32 |
| − Vacancy | −$3.7k | −$0.58 |
| EGI | $158.6k | $24.74 |
| − OpEx | −$39.6k | −$6.18 |
| NOI | $118.9k | $18.55 |
6,410 SF · lease $25.32/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,926 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,885 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Dr. Gene Withrow, ...
Dental Office
Dale Fell Health ...
Health
LabCorp
Drug Testing Service
Anjuli Munjal
Physician
Mr. Casey Ward
Physician
Location Insight
- Map
- Local Demand
- City
- Asheville
- County
- Buncombe
- State
- North Carolina
- Longitude
- -82.555622
- Latitude
- 35.58331
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Two office units in downtown Asheville, recently renovated by tenant.
Where is this office units located?
The property is located at 7 McDowell Street Units 100 & 300 Asheville, NC.
What is the asking price?
The asking price for this property is $2,140,000.
What are key features of this property?
This property features: Prime downtown Asheville location with convenient access to amenities, dining, breweries, shops, and services.; Long‑term national tenant, Labcorp, with recent interior renovations.; Combined square footage of 6,410 across two units (100 & 300).
