24 N Lexington Ave - Storefront Retail/Office FOR SALE


Asheville, NC 28801- Downtown Asheville
$8,000,000 USD
828-216-8462
24 N Lexington Ave, Asheville, NC for Sale
$8,000,000 USD
Storefront Retail/Office - FOR SALE
1/23
null | Request Cap Rate

24 N Lexington Ave
Asheville, NC 28801
Downtown Asheville


HIGHLIGHTS

  • Multiple revenue streams from commercial, hospitality, and parking uses
  • Situated within Asheville’s core pedestrian tourism and retail district
  • Currently operating as a public pay-to-park facility
  • Valuable infrastructure in Asheville’s supplyconstrained downtown parking market
  • Potential to support hotel operations and future downtown development

OVERVIEW

Mixed-Use Redevelopment & Boutique Hospitality Opportunity with Dedicated Parking at 76 College St. Proposed 35-room boutique hotel, cocktail lounge, and ground level retail on both 24 N. Lexington Ave. and 15 Broadway Street. Located in the heart of downtown Asheville, the property sits at the intersection of Broadway Street and the Lexington Avenue retail corridor, two of the city’s most active pedestrian streets. Part of the historic Star Block, originally built in the early 1900s, the building is positioned for redevelopment as Zelda Salon, a proposed 35-key boutique hotel that will preserve the property’s historic character while introducing suite-style guest rooms, curated hospitality spaces, and ground-level retail along both Broadway and Lexington Avenue. The offering also includes the adjacent 76 College Street parking lot, providing approximately 20 surface parking spaces in a supply-constrained downtown environment. Together, the properties present a rare opportunity combining existing retail income, boutique hotel redevelopment potential, and dedicated downtown parking in the center of Asheville’s thriving tourism market. Located downtown at the intersection of Broadway Street and the bustling Lexington Avenue retail corridor in Asheville, offering close proximity to the AC Marriott, Kimpton Arras Hotel, and pedestrian retail destinations.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$356 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

CBD

APN/PARCEL ID

9649-40-0770-00000

ASK ABOUT THIS PROPERTY

Jay LurieDewey Property AdvisorsMore Info
828-216-8462

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Jay LurieDewey Property AdvisorsMore Info
828-216-8462

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