271 Tunnel RdAsheville, NC 28805

Property Details for 271 Tunnel Rd

Year built

1961

Construction

BRICK

Lot size

1.16 AC

Property size (Sq ft)

15,972 SF

Zone code

DEED DATE:08/08/2022 DEED

Property type

Retail properties

Property subtype

Turn key restaurants

APN

9658-16-2243-00000

APU

965816224300000

Description

This exceptional 13,818 square foot commercial property, situated on a 1.16-acre lot at 271 Tunnel Road in Asheville, North Carolina, presents a compelling investment opportunity. Currently 100% leased, this retail/strip center boasts a strong tenant mix generating significant daily traffic. Its prime location near major retailers ensures high visibility and accessibility within Asheville's most desirable trade area. The property is zoned Urban Place, offering versatility and potential for future growth. The asking price is $2,900,000. This stabilized investment provides a consistent income stream and benefits from its position in a thriving market. The building's excellent condition and strong tenant occupancy make this a low-risk, high-reward opportunity for discerning investors seeking a foothold in Asheville's robust commercial real estate sector. The property's strategic location and proven performance history make it an attractive addition to any portfolio. This is a rare chance to acquire a fully leased, high-performing asset in a dynamic and growing city. The property's strong cash flow and potential for appreciation make it an ideal investment for long-term growth. Don't miss this chance to own a piece of Asheville's thriving retail landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $4,530,752

  6.5%

  $4,182,233

  7%

  $3,883,502

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,313,736

  Geo Method

  $3,313,736

• Alternative Use

  Use

  Valuation

  Residential

  $3,527,870

  Hospitality

  $3,231,510

  Educational

  $2,688,578

  Medical

  $2,781,042

  Retail

  $4,182,233

Location Insight

City

Asheville

County

Buncombe

State

North Carolina

Latitude

35.5843

Longitude

-82.5281

CBSA code

11700

CBSA name

ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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