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    Property profile & analytics

    3 Tunnel Rd Asheville, NC 28805

    • Super regional malls
    • 197,776 SF
    • 40.88 lot acres
    For Lease
    View listing
    Value Estimation
    Last Sale
    Aug 04, 2022
    Location Intelligence
    Property ID
    US53-1449681
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Zumiez / Men'S Clothing Store / Shoe Store
    • Eddie Bauer / Clothing Store
    • Lane Bryant / Clothing Store / Women'S Clothing Store
    • Hollister Co. / Clothing Store / Fashion Accessories Store
    • Maurices / Women'S Clothing Store / Plus Size Clothing Store

    Property Details for 3 Tunnel Rd

    Year built
    1973
    Construction
    TILT-UP CONCRETE
    Lot size
    40.88 lot acres
    Property size
    197,776 SF
    Zone code
    DEED DATE: 2022-08-04 DEE
    Property type
    Super regional malls
    APN
    9658-13-5696-00000
    APU
    965813569600000

    Description

    This exceptional food court opportunity is located within a bustling Asheville, North Carolina shopping center at 3 S Tunnel Rd, zip code 28805, in Buncombe County. The property boasts a total of 973,371 square feet, offering a variety of spaces to suit diverse culinary concepts. Currently, 15,429 square feet of retail space is available, divisible into units ranging from a minimum of 729 square feet to a maximum contiguous space of 7,000 square feet. This presents a unique chance for both established restaurant brands and exciting new ventures to establish a presence in this high-traffic location. The expansive 46.35-acre site provides ample parking with 4,700 spaces, ensuring convenient access for patrons. The property's strategic location within the vibrant Asheville market guarantees high visibility and significant foot traffic, making it an ideal investment for those seeking a thriving retail environment. The property is classified as Retail and Restaurant, with a Food Court subtype and multiple tenancy. This presents a unique opportunity to be part of a dynamic and successful shopping destination in the heart of Asheville.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5265
    Latitude
    35.5828
    CBSA code
    11700
    CBSA name
    ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $341,445
    $0.00
    $0.00
    $36,837,300
    -
    $28,491,700
    $8,345,600
    $36,837,300

    Comparable in this City

    • Value Estimation by Request
      79,265 SF

      3 Tunnel Rd Rds

      REGIONAL SHOPPING CENTER, MALL • 79,265 SF
      3 Tunnel Rd Rds, Asheville, NC 28805-2238
      View Details
    • Value Estimation by Request
      132,292 SF

      7 Tunl Rd

      REGIONAL SHOPPING CENTER, MALL • 132,292 SF
      7 Tunl Rd, Asheville, NC 28805
      View Details
    • Value Estimation by Request
      175,088 SF

      5 Tunl Rd

      REGIONAL SHOPPING CENTER, MALL • 175,088 SF
      5 Tunl Rd, Asheville, NC 28805-2218
      View Details
    • Value Estimation by Request
      92,064 SF

      3 Tunl Rdn

      REGIONAL SHOPPING CENTER, MALL • 92,064 SF
      3 Tunl Rdn, Asheville, NC 28805-2238
      View Details
    • Value Estimation
      $1,895,000
      120,551 SF

      1 Tunl Rd

      REGIONAL SHOPPING CENTER, MALL • 120,551 SF
      1 Tunl Rd, Asheville, NC 28805-2218
      View Details
    • Value Estimation by Request
      15,964 SF

      242 Tunl Rd

      SHOPPING CENTER, STRIP CENTER • 15,964 SF
      242 Tunl Rd, Asheville, NC 28805-1835
      View Details

    Similar Nearby for Sale

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      Retail Center in Asheville Area

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    • New
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      Asheville Land Development Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      973,371 SF

      Asheville Food Court Opportunity

      Prime Asheville retail space, multiple units available.
      3 Tunnel Rd, Asheville, NC 28805
      View Details
    • Contact for pricing
      6,808 SF

      Asheville Warehouse with Dock Doors

      6,808 SF warehouse with 18 dock high doors.
      56 Truckers Pl, Asheville, NC 28805
      View Details
    • Contact for pricing

      Commercial Land Near Downtown Asheville

      Commercial land for rent, 10 minutes from Downtown Asheville.
      40 South Tunnel Rd, Asheville, NC 28805
      View Details
    • Contact for pricing
      8,989 SF

      Retail Space Near Asheville Mall

      Signalized corner location with excellent visibility and access.
      90 S Tunnel Rd, Asheville, NC 28805
      View Details
    • $775,000

      Prime Commercial Land on US-70

      Flat, accessible 0.72 acre site on US-70 for lease.
      1480 Tunnel Rd, Asheville, NC 28805
      View Details
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    Asheville, NC 28805
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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
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