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    1 Page Ave Asheville, NC 28801

    Sponsored
    For Lease
    $33 SF/Yr

    Downtown Asheville, Class A Office Space

    Lot size:
    250,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This prestigious Class A, mixed-use property, the Grove Arcade, offers exceptional executive office suites in the heart of downtown Asheville, NC. Located at 1 Page Ave, this landmark building boasts 250,000 square feet and features a blend of retail, restaurant, and office spaces. Currently, 1,025 square feet of office space is available, divisible into units ranging from 491 to 534 contiguous square feet. Built in 1927 and renovated in 2003, the property sits on a 1.55-acre lot within the CBD zoning district of Buncombe County. The Grove Arcade benefits from a Walk Score of 92, providing unparalleled accessibility and high foot traffic, particularly advantageous for retail and restaurant tenants. On-site amenities include security and parking, while office tenants enjoy prominent signage and numerous building amenities. The property's marketing team actively promotes tourism, maximizing exposure for all tenants. This is an unparalleled opportunity to secure prime office space in one of Asheville's most desirable locations.

    Property Features for 1 Page Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    250,000 SF
    Class
    A
    Total Rate
    700000

    Building Details

    Year Built/Renovated
    1927/2003

    Unit(s) available at that property

    Space
    Unit 126
    Size
    491 SF
    Rate per SF
    $38
    Space
    Unit 137
    Size
    534 SF
    Rate per SF
    $33

    HighLights

    • Class A, 1,210 SF retail suite available in the Grove Arcade.
    • Ample nearby public parking options including street meters, Wall Street Garage (232 spaces), Rankin Garage (262 spaces), and Civic Center Garage (550 spaces).
    • Secure on‑site parking available for tenants in underground deck or surface lot one block away.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mission At the Grove Furniture Store Art Jetty, LLC Arts Organization Baba Nahm - Middle ... Middle Eastern Restaurant Grove Arcade Business Center Asheville Proper Restaurant

    Suggested Use

    Restaurant Law Firm Dental Office Realty agency Hair Salon Spa & Massage Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5566249
    Latitude
    35.5956462

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    FAQs

    What type of property is this?
    Restaurant - Downtown Asheville, Class A Office Space
    Where is this restaurant located?
    The property is located at 1 Page Ave Asheville, NC.
    What is the lease rate?
    The lease rate is $33-$38 SF/Yr.
    What are key features of this property?
    This property features: Class A, 1,210 SF retail suite available in the Grove Arcade.; Ample nearby public parking options including street meters, Wall Street Garage (232 spaces), Rankin Garage (262 spaces), and Civic Center Garage (550 spaces).; Secure on-site parking available for tenants in underground deck or surface lot one block away.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Page Ave Asheville, NC 28801
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