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Tunnel Road Retail Center 1078 Tunnel Rd 14,262 SF 100% Leased Retail Building Asheville, NC 28805 $6,554,009 CAD ($459.54 CAD/SF) 4.75% Cap Rate
Investment Highlights
- Strong in-place income
- Diverse tenant mix
- Short-term leases allow repositioning
- High visibility location at signalized intersection
Executive Summary
This popular 14,262 SF retail center is located on a primary commercial corridor with traffic counts of 25k+ VPD and retail demand. Neighboring businesses include VA Medical Center, Ingles Markets and many more.
This center offers approximately $260,000 in current income with significant upside through lease rollover, rent increases, and conversion to a more institutional lease structure.
This center offers approximately $260,000 in current income with significant upside through lease rollover, rent increases, and conversion to a more institutional lease structure.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
14,262 SF
Building Class
C
Year Built
1978
Price
$6,554,009 CAD
Price Per SF
$459.54 CAD
Cap Rate
4.75%
NOI
$311,342 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
1.92 AC
Zoning
HB - Highway Business District
Parking
60 Spaces (4.21 Spaces per 1,000 SF Leased)
Frontage
159’ on Tunnel Rd
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Storage Space
- Monument Signage
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 9668-27-3260-00000 | Improvements Assessment | $880,468 CAD |
| Land Assessment | $1,095,914 CAD | Total Assessment | $1,976,382 CAD |
Property Taxes
Parcel Number
9668-27-3260-00000
Land Assessment
$1,095,914 CAD
Improvements Assessment
$880,468 CAD
Total Assessment
$1,976,382 CAD
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Tunnel Road Retail Center | 1078 Tunnel Rd
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