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    FOR LEASE
    Retail space

    1 Page Ave, Asheville, NC 28801

    Built 1927
    Property ID
    US53-1446131
    Property summary
    AI-generated overview

    The Grove Arcade is a nationally well-known, Class-A mixed use retail, restaurant, office, and residential complex located in downtown Asheville. With an average annual (interior) door count of 773,564 visitors, and a walk-Score of 92, it is the most attractive class A office location in Downtown. The site offers abundant foot traffic for retailers (door counts are available), easy accessibility, on-site security and parking, and immediate access to Restaurant Row. Retail and restaurant tenants benefit from the property's marketing team, which continuously promotes tourism to the property through a range of marketing channels and methods. Office tenants enjoy strong signage / wayfinding to direct visitors to their suites, and many property amenities. In 1915 E.W. Grove had completed the Grove Park Inn and understood that a successful city needed a vibrant downtown. He conceived of Grove Arcade as "the most elegant building in America"—and as a new kind of retail center. A century later, retail continues to boom here. The Grove Arcade spans a city block on the west side of Downtown Asheville. It is located directly off of I-240 at the cross streets of Battery Park Drive, Page Avenue & O'Henry St. It anchors an area of downtown that includes a handful of Carolina's finest restaurants, retailers as well as other Historic structures including The Battery Park Apartments, Haywood Park Hotel, The Flat Iron Building and Wall Street. It is within 300 yds. of five hotels; Hyatt Place, Indigo Hotel, Haywood Park Hotel, Cambria Suites, and Embassy Suites. Asheville benefits from tourism with 11.9 million visitors annually, generating $3.1 billion in economic impact. Known as one of the leading cultural hubs in the US, is also voted as one of the best cities to live in.

    Property profile
    Verified
    Property type Retail space
    Year built 1927
    UPID US53-1446131
    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
    • Mission At the Grove Furniture & Home Goods Home Decor Store
    • Art Jetty, LLC Theater & Performing Art Venue
    • Baba Nahm - Middle Eastern Street Food Restaurant
    • Grove Arcade Business Service Center Corporate Office
    • Asheville Proper Restaurant
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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