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The Phil Mechanic Studios Building 109 Roberts St 20,800 SF 100% Leased Retail Building Asheville, NC 28801 $6,574,608 CAD ($316.09 CAD/SF) 6.98% Cap Rate
Investment Highlights
- Historic artist studio building in Asheville's River Arts District
- Home to 35+ artists, makers, and creative businesses
- Strong tenant demand driven by Asheville's nationally recognized arts community
- Over 20,800 SF across five floors of studio and creative workspace
- Located adjacent to The Radical Hotel, one of Asheville's newest boutique hospitality destinations
- Positioned within one of the Southeast's most active cultural tourism markets
Executive Summary
HISTORIC, CREATIVE WORKSPACE INVESTMENT OPPORTUNITY OFFERED AT $4,800,000
Phil Mechanic Studios offers a rare opportunity to acquire a historic creative workspace building in Asheville’s River Arts District. Located at 109 Roberts Street and spanning more than 20,800 square feet across five floors, the property serves as a long-standing anchor for the district’s arts community. Home to more than 35 artists and creative businesses, the building benefits from strong demand driven by Asheville’s nationally recognized arts and tourism economy. Positioned adjacent to The Radical Hotel and within one of the city’s most active redevelopment corridors, the property offers a distinctive investment within one of the Southeast’s most vibrant creative districts.
Phil Mechanic Studios offers a rare opportunity to acquire a historic creative workspace building in Asheville’s River Arts District. Located at 109 Roberts Street and spanning more than 20,800 square feet across five floors, the property serves as a long-standing anchor for the district’s arts community. Home to more than 35 artists and creative businesses, the building benefits from strong demand driven by Asheville’s nationally recognized arts and tourism economy. Positioned adjacent to The Radical Hotel and within one of the city’s most active redevelopment corridors, the property offers a distinctive investment within one of the Southeast’s most vibrant creative districts.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
20,800 SF
Building Class
C
Year Built
1928
Price
$6,574,608 CAD
Price Per SF
$316.09 CAD
Cap Rate
6.98%
NOI
$458,705 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
1.49
Lot Size
0.32 AC
Opportunity Zone
Yes
Zoning
Form Based Code
Parking
20 Spaces (0.96 Spaces per 1,000 SF Leased)
Frontage
100’ on Roberts Street
Amenities
- 24 Hour Access
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,707,542 CAD | |
| Land Assessment | $322,772 CAD | Total Assessment | $3,030,314 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$322,772 CAD
Improvements Assessment
$2,707,542 CAD
Total Assessment
$3,030,314 CAD
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The Phil Mechanic Studios Building | 109 Roberts St
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