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Investment Highlights

  • Six-unit neighborhood retail center in a highly accessible northwest Asheville location
  • One available vacancy provides immediate value-add and lease-up opportunity
  • Attractive investment opportunity with existing cash flow and future upside potential
  • Stable in-place income with long-term tenants and NNN lease structure
  • Conveniently located just off New Leicester Highway amid strong residential and commercial growth
  • Contact the Listing Broker for financials and showings (please do not disturb tenants)

Executive Summary

Six-unit well-maintained neighborhood center in a highly accessible north-west Asheville location. Long-term tenants in place, with one current vacancy, offering immediate value-add potential and stable cash flow. All tenants are operating under NNN leases. Conveniently located just off New Leicester Highway. Surrounded by a strong mix of residential and commercial development, nearby businesses, and numerous service-oriented retailers and professional offices that support the area's growing population. This is an excellent opportunity for investors seeking a multi-tenant asset with in-place income and upside through lease-up of the remaining vacancy. Please see the brochure for further financial information. Please do not disturb tenants - contact the listing broker for showings.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
7,737 SF
Building Class
B
Year Built
2004
Price
$2,431,100 CAD
Price Per SF
$314.22 CAD
Cap Rate
5.80%
NOI
$141,004 CAD
Percent Leased
83%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.36
Lot Size
0.50 AC
Zoning
CS
Parking
23 Spaces (2.97 Spaces per 1,000 SF Leased)
Frontage
163’ on New Leicester Hwy

Amenities

  • Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100

Nearby Major Retailers

Starbucks
Ingles Markets
First Citizens Bank
Storage Sense
First Horizon Bank
Zaxby's
TD Bank

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 9629-07-1748-00000
  • 9629-07-3799-00000
Land Assessment
$588,187 CAD
Improvements Assessment
$1,477,970 CAD
Total Assessment
$2,066,157 CAD
  • Listing ID: 40792027

  • Date on Market: 2026-06-04

  • Last Updated:

  • Address: 9 Fallen Spruce Dr, Asheville, NC 28806

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