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Property profile & analytics
FOR LEASE
Commercial real estate

22 S Pack Sq 404 Asheville, NC 28801

31,110 SF 0.37 ac lot Built 1909
Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US53-1534591
Property summary
AI-generated overview

This iconic 1924 neo-gothic building, recently renovated in 2022, offers 42,316 square feet of prime office space in downtown Asheville, NC. Located on 0.37 acres in the heart of Pack Square, the property boasts one building with multiple tenancies, including executive, creative, and traditional office spaces. Currently, one 1,543 sq. ft. suite is available. The building features abundant natural light, functional floor plans, and stunning views. Recent renovations include new paint and carpeting in offices and common areas, updated restrooms, a renovated main lobby, new elevators, and stylish additions such as artwork, wayfinding signage, and designer lighting. The building's central location provides easy access to Asheville's best restaurants, shops, and coffee houses. The property is zoned CBD and has a Buncombe County APN of 9649-40-6331. This is a unique opportunity to lease space in one of Asheville's most recognizable and desirable buildings.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1909
Construction FRAME
Total area 31,110 SF
Lot 0.37 ac (16,117 SF)
Zoning code DEED DATE:05/30/2017 DEED
APN 9649-40-6331-00000
UPID US53-1534591
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
  • Edwards Law Law Firm
  • Byerly Appraisal Services Real Estate Agency
  • Paul Fugelsang Physician Medical Clinic
  • Intellenet Inc Employment Agency
  • Ash Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.98M
Blend (final) Blend
$12.99M
Owner & transaction history
Pack Square Property LLC · 9 yrs held
Pack Square Property LLC
since 2017
4 recorded transactions
2017
Price N/A
2006
Price N/A
2004
$15.0M
2004
Price N/A
Zoning & alternative use
DEED DATE:05/30/2017 DEED · Asheville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Chapter 7 DEVELOPMENT
Top alternative use upside
Restaurant $11.7M +45.9%
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