122 College St, Asheville, NC 28801

12,060 SF 0.07 ac lot Built 1917

Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity

Property ID

US53-0631853

$4,400,000 12,060 SF

122 College St, Asheville, NC 28801
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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.