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Property profile & analytics
FOR LEASE
Commercial real estate

1 N Pack Sq Asheville, NC 28801

72,432 SF 0.46 ac lot Built 1982
Entity Owned 11-yr Hold Free & Clear
Property ID
US53-0135778
Property summary
AI-generated overview

This exceptional seven-story, 140,598 square foot office building, constructed in 1982 and renovated in 2006, presents a unique investment opportunity in the heart of Asheville's Central Business District (CBD). Located on 0.46 acres of land, the property boasts a prestigious address overlooking Pack Square, offering unparalleled visibility and access to Asheville's vibrant downtown amenities. The building features a mix of traditional and creative office spaces, currently offering seven available suites ranging from 170 to 2,466 square feet. High-end finishes, stunning downtown and mountain views, and 24-hour secure access with a staffed lobby during business hours are key features. The third and fourth floors each include a shared kitchenette for tenant convenience. The building's design, attributed to I. M. Pei, is considered an architectural landmark. On-site monthly parking is available (subject to availability). The property's zoning designation is CBD, and its Buncombe County APN is 9649-40-4582. This full-service lease opportunity provides a rare chance to secure a prominent presence in one of Asheville's most desirable locations. Easy access from I-240, Exit 5A, makes this property highly convenient.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1982
Construction TILT-UP CONCRETE
Total area 72,432 SF
Lot 0.46 ac (20,038 SF)
Zoning code DEED DATE:12/22/2014 DEED
APN 9649-40-4582-00000
UPID US53-0135778
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • MBG & Assoc LLC Law Firm
  • Asheville by Foot Walking Tours Travel Agency Tour Operator
  • TurnKey Vacation Rentals - Asheville Property Management Company
  • Dr. Stephen R. Shaffer, MD Physician
  • Woolworth Walk Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$17.29M
Blend (final) Blend
$17.29M
Owner & transaction history
Biltmore Building LLC · 11 yrs held
Biltmore Building LLC
since 2014
1 recorded transaction
2014
Price N/A
Zoning & alternative use
DEED DATE:12/22/2014 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant $27.2M +45.9%
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