Strip Center Shell at
90 S Tunnel Rd Asheville, NC 28805
90 S Tunnel Rd, Asheville, NC, 28805
$2,250,000
Pending
For Sale
$2,250,000
Pending
Signalized corner retail site with a structurally sound strip center shell formerly totaling approximately 8,989 SF.
Property Size8,989 SF
Days on Market245
Property Features for 90 S Tunnel Rd
General Information
- Standard status
- Pending
- Size
- 8,989 SF
Listing agency
Whitney Commercial Real Estate
(828) 674-2120
Listed by
Jason Burk
(828) 674-2120
Source
Exprealty
Added: Nov 18, 2025 Updated: Jul 18 at 3:37AM Checked: Jul 19 at 9:00AM
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
Investment Insights
Based on property information with market context.
This offering is a retail strip center shell at a signalized corner location. The existing building shell from the former strip center is approximately 8,989 SF and is described as structurally sound, with an owner report available. The property was damaged from Hurricane Helene.
The site is across the street from Lowe’s and Walgreens and is positioned within a retail trade area that includes major national retailers such as Walmart, Target, Dick’s, and Ross. Visibility and access are described as excellent from Swannanoa River Road and S. Tunnel Rd.
Because the shell is intact and reported to be structurally sound, the property may serve as a base for redevelopment consistent with the former strip center footprint.
The site is across the street from Lowe’s and Walgreens and is positioned within a retail trade area that includes major national retailers such as Walmart, Target, Dick’s, and Ross. Visibility and access are described as excellent from Swannanoa River Road and S. Tunnel Rd.
Because the shell is intact and reported to be structurally sound, the property may serve as a base for redevelopment consistent with the former strip center footprint.
Key Highlights
- Signalized corner retail site at a former strip center location, with structurally sound building shell
- Shell former strip center totals approximately 8,989 SF (report available with structural soundness claim)
- Across from Lowe’s and Walgreens, within a retail trade area with major global retailers including Walmart, Target, Dick’s, and Ross
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 | $153.2k | $17.04 |
| − Vacancy | −$2.6k | −$0.29 |
| EGI | $150.6k | $16.75 |
| − OpEx | −$45.2k | −$5.03 |
| NOI | $105.4k | $11.73 |
8,989 SF · lease $17.04/SF/yr · vacancy 1.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,398 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $198,971 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dental for Life
Dental Office
Ole's Guacamoles
Restaurant
Asheville Beds
Furniture & Home Goods
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Signalized corner retail site with a structurally sound strip center shell formerly totaling approximately 8,989 SF.
Where is this strip mall located?
The property is located at 90 S Tunnel Rd Asheville, NC.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Signalized corner retail site at a former strip center location, with structurally sound building shell; Shell former strip center totals approximately 8,989 SF (report available with structural soundness claim); Across from Lowe’s and Walgreens, within a retail trade area with major global retailers including Walmart, Target, Dick’s, and Ross
