122 College St Asheville, NC 28801
Property profile & analytics
122 College St Asheville, NC 28801
- Retail space
- 12,060 SF
- 0.07 lot acres
Property ID
US53-0631853
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.
Location Intelligence
Current Use by Public Records
- Miyako House / Restaurant
- Elevated Kava Lounge Downtown / Cafe & Coffee Shop
Property Details for 122 College St
- Year built
- 1917
- Construction
- BRICK
- Lot size
- 0.07 lot acres
- Property size
- 12,060 SF
- Zone code
- DEED DATE:04/28/2017 DEED
- Property type
- Retail space
- APN
- 9649-40-7722-00000
- APU
- 964940772200000
Description
This stunning, mixed-use property at 122 College Street in downtown Asheville, North Carolina, offers a unique blend of historic charm and modern luxury. The 11,885 square foot building, situated on a 0.07-acre lot, underwent a complete renovation in 2023, earning a prestigious Griffin Award for its exceptional design and craftsmanship. The exterior showcases the original 1917 exposed brick facade, while the interior boasts a sophisticated, updated aesthetic. The ground floor features a fully leased 3,000 square foot restaurant and a 3,000 square foot bar, both currently operating at 100% occupancy. A separate private entrance leads to the upper floors, which comprise 5,040 square feet of luxurious residential space. This includes two beautifully appointed 2-bedroom, 2-bathroom apartments on the second floor and a spectacular 3-bedroom, 3.5-bathroom penthouse suite on the top floor. Each residential unit offers spacious layouts and breathtaking city views. The penthouse is particularly noteworthy, featuring 25-foot ceilings and a dramatic staircase leading to a private mezzanine and rooftop terrace overlooking Pack Square Park, offering unparalleled mountain and cityscape views. All residential units are offered fully furnished, providing a turnkey investment opportunity. Located steps from Pack Square Park, this property enjoys an unbeatable location in the heart of Asheville's vibrant downtown area. The combination of its award-winning design, prime location, and strong rental income makes 122 College Street an exceptional investment opportunity. The asking price is $4,850,000.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,355,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,355,000
- 6.5%
- $2,175,000
- 7%
- $2,020,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,095,000
- AI Estimate
- $2,095,000
Market price range: $1.81M - $3.45MMarket price range: $1.81M - $3.45M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,265,000 Current use
- COMMERCIAL (GENERAL)
- $3,100,000 Change: +37% Conversion: Easy
- AUTO REPAIR, GARAGE
- $3,090,000 Change: +36% Conversion: Difficult
- MEDICAL BUILDING
- $2,720,000 Change: +20% Conversion: Difficult
- OFFICE BUILDING
- $2,235,000 Change: -1% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $2,075,000 Change: -8% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Asheville
- County
- Buncombe
- State
- North Carolina
- Longitude
- -82.5505
- Latitude
- 35.5961
- 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
$23,360
$0.00
$0.00
$2,084,200
-
$442,100
$1,642,100
$2,084,200
