The Leader Building | 10 Patton Ave
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The Leader Building 10 Patton Ave
9,792 SF Retail Building Asheville, NC 28801 $6,236,868 CAD ($637 CAD/SF)
Investment Highlights
- Prime downtown location with heavy daytime and nighttime foot traffic.
- Incredible 3,741 SF 3-bedroom apartment with open plan and high rental potential.
- Unique opportunity in downtown Asheville for the historic Leader Building.
- Long-term popular tenants on main and lower levels.
- Thoughtful renovation throughout building with attention to every detail.
- Entire building sprinkled
Executive Summary
Prime investment opportunity with the meticulously updated 1910 historic Leader Building. In the heart of vibrant downtown Asheville, this iconic property combines historical significance with mixed-use commercial appeal. Every detail has been thoughtfully updated, from the beautifully preserved architectural elements to the energy efficient systems throughout the building. The main & lower levels are occupied by well-established tenants with a long-term lease. The upper level features a spacious and elegant 3,741 SF 3 bedroom, 3.5 bath apartment. Designed with expansive living areas with high ceilings, abundant natural light, a mountain view, and high-end kitchen, this residence provides a perfect blend of character & modern comfort, plus plenty of storage room. This property presents a rare opportunity to own a piece of Asheville’s history while benefiting with an income stream. Financials available for review upon request.
Current rental income priced at 5.5% Cap Rate. Apartment priced at $720/SF. Owners use apartment for personal use, but have previously rented for $4,500 per month on a one-year lease and most recently for $7,000 for 30-day lease. Disclosure - The City of Asheville classifies this residence as an apartment and not technically a condo due to it having one main ingress/egress. Potential to condonize the building and sell off the residential and hold the commercial income, or vice versa - buyer to verify. Please do not disturb Tenants. Call listing agent for all showings. Listing agency does not hold earnest money.
Current rental income priced at 5.5% Cap Rate. Apartment priced at $720/SF. Owners use apartment for personal use, but have previously rented for $4,500 per month on a one-year lease and most recently for $7,000 for 30-day lease. Disclosure - The City of Asheville classifies this residence as an apartment and not technically a condo due to it having one main ingress/egress. Potential to condonize the building and sell off the residential and hold the commercial income, or vice versa - buyer to verify. Please do not disturb Tenants. Call listing agent for all showings. Listing agency does not hold earnest money.
Data Room Click Here to Access
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,792 SF
Building Class
B
Year Built/Renovated
1910/2016
Price
$6,236,868 CAD
Price Per SF
$637 CAD
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.81
Lot Size
0.08 AC
Zoning
CBD - Asheville Commercial Business District
Frontage
51 ft on Patton Ave
Amenities
- Restaurant
- Accent Lighting
- Recessed Lighting
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Farmburger
- Accommodation and Food Services
-
99,999 SF
- -
- -
- One World Brewing
- Manufacturing
-
99,999 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Farmburger | Accommodation and Food Services | 99,999 SF | - | - | ||
| One World Brewing | Manufacturing | 99,999 SF | - | - |
Walk Score ®
Walker's Paradise (92)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 9649-40-1287-00000 | Improvements Assessment | $1,016,893 CAD |
| Land Assessment | $716,248 CAD | Total Assessment | $1,733,141 CAD |
PROPERTY TAXES
Parcel Number
9649-40-1287-00000
Land Assessment
$716,248 CAD
Improvements Assessment
$1,016,893 CAD
Total Assessment
$1,733,141 CAD
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The Leader Building | 10 Patton Ave
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