148 Tunnel Rd - Storefront FOR SALE


Asheville, NC 28805- Kenilworth
$3,388,257 USD
843-725-7835
148 Tunnel Rd, Asheville, NC for Sale
$3,388,257 USD
Storefront - FOR SALE
1/11
null | 7% Cap Rate

148 Tunnel Rd
Asheville, NC 28805
Kenilworth


HIGHLIGHTS

  • The property is 100% leased through 2032 and includes a long term billboard lease through 2033.

OVERVIEW

STRATEGIC LOCATION & ACCESSIBILITY: The property is positioned along Tunnel Road (17,500 VPD), Asheville’s primary retail corridors, and sits adjacent to Interstate 240 (52,000 VPD), unlocking broad connectivity throughout the Asheville MSA. The site is a 5-minute drive to downtown Asheville and is surrounded by national retailers including Whole Foods, TJ Maxx, Lowe’s, Best Buy, Walmart, and Asheville Mall, generating continuous consumer traffic the asset directly benefits from. LONG - TERM LEASE STABILITY: The Vitamin Shoppe and Americas Best recently exercised their extension options making the asset 100% leased through 2032. The Vitamin Shoppe has two 5-year option with built-in rent bumps of 10% and Americas best has one 5-year option with a 15% rent bump. A long-term billboard lease through 2033 adds additional income with no expense burden. STRONG, GROWING DEMOGRAPHICS: The trade area supports a dense, affluent population with 97,764 residents within a 5-mile radius. The population within a 5 mile radius grew 6.3% from 2020 to 2025 and is projected to continue expanding. Average household income reaches $107,060 within 5 miles and $101,308 within 3 miles, both comfortably above the national average, underpinning consumer demand for the tenants’ need based offerings.

FOR SALE DETAILS

PRICE

$3,388,257 USD

PRICE/SF

$506 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Vitamin Shoppe & Americas Best

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Drug Store, Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

HB

APN/PARCEL ID

9658088500

ASK ABOUT THIS PROPERTY

Gus BowenBerkeley Capital AdvisorsMore Info
843-725-7835

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Gus BowenBerkeley Capital AdvisorsMore Info
843-725-7835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.