Mixed-Use Retail and
For Sale
$2,500,000
9-13 Broadway Street, Asheville, NC 28801
Fully leased historic property built in 1920, updated in 2024, with three ground-floor retail spaces and two apartments.
Property Size6,276 SF
Days on Market177
Property Features for 9-13 Broadway Street
General Information
Standard status
Active
Size
6,276 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Building Size
6,276 SF
Year Built
1927
Year Renovated
2024
Units
3
Tenancy
Multi
Listing Agency:
Dewey Property Advisors
Listed By:
Jay Lurie · License #NC #192865
(828) 216-8462
Source:
Deweypa
Added: May 8
Changed: Oct 26
Last Checked: Oct 30 at 1:01PM
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 Dewey Property Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use, fully leased historic portfolio was built in 1920 and received updates in 2024. The property includes three ground-level retail spaces, one of which is a restaurant, along with two apartments. Current leases are described as stable, each with an option to renew.
Located in downtown Asheville, North Carolina, the building is positioned within an active retail environment in Buncombe County. The public remarks note the area added 164 retail establishments between 2024 and 2025, representing a +9.7% growth rate, and that downtown Asheville has reopened and is showing signs of recovery following Hurricane Helene.
From a practical layout standpoint, the property combines street-level retail frontage with residential units above, creating a diversified mix within one historic structure.
Located in downtown Asheville, North Carolina, the building is positioned within an active retail environment in Buncombe County. The public remarks note the area added 164 retail establishments between 2024 and 2025, representing a +9.7% growth rate, and that downtown Asheville has reopened and is showing signs of recovery following Hurricane Helene.
From a practical layout standpoint, the property combines street-level retail frontage with residential units above, creating a diversified mix within one historic structure.
Key Highlights
- Historic mixed‑use property built in 1920 with updates in 2024
- Fully leased setup with two apartments plus three ground‑floor retail spaces
- Includes three ground‑level retail spaces, one of which is a restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,588
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,471,760
$1.5M
Cap Rate 7%
$1,051,257
$1.1M
Cap Rate 9%
$817,644
$817.6K
Market Conditions
NOI Build-Up for 6,276 SF
Gross rent
$106.9K $17.04/SF
− Vacancy
−$1.8K −$0.29/SF
EGI
$105.1K $16.75/SF
− OpEx
−$31.5K −$5.03/SF
NOI
$73.6K $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%
$1,471,760
Cap Rate 7%
$1,051,257
Cap Rate 9%
$817,644
Alternative Uses
Best Use
Retail
$1.05M
$919.9K – $1.23M
NOI $73,588 @ 7.0% cap · market cap 2.94%
Second Best
Multifamily LT 5
$1.01M
$881.8K – $1.18M
NOI $70,540 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,919 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,310
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased historic property built in 1920, updated in 2024, with three ground-floor retail spaces and two apartments.
Where is this retail space located?
The property is located at 9-13 Broadway Street Asheville, NC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Historic mixed‑use property built in 1920 with updates in 2024; Fully leased setup with two apartments plus three ground‑floor retail spaces; Includes three ground‑level retail spaces, one of which is a restaurant
