114 N Lexington Ave

Turn-Key opportunity for investors and entrepreneurs! This historic & well-maintained 3-story brick building offers unparalleled exposure amidst the vibrant cityscape of Downtown Asheville. Well-positioned at the signalized intersection of Exit 5A off I-240, this property offers both interstate frontage and visibility from 2 major city streets. Total of 7,042 SF with 3 floors of usable space, providing immediate potential for value-add income through multi-tenant occupancy. Lower level is 2,240 SF and includes a retail area and a commercial kitchen with platform passenger lift and dumbwaiter accessing upper floors. Second level is 2,384 SF and includes a full service restaurant with plenty of seating and entrances from two major streets in downtown Asheville. Upper level is 2,418 SF and currently has a bar area with a dumb waiter from the kitchen and offers stunning views of both the mountains and the cityscape. There is dual stairwell access & possibility of division into two separate spaces. Each level features unique historical architectural details and loads of natural light. Strategically located in a coveted location on Lexington Avenue, a renowned destination street flanked by the bustling thoroughfares and serves as a dynamic creative corridor, boasting a diverse array of over 200 small businesses and shops, ranging from chic retro boutiques to inviting restaurants & brewpubs. Across the street is a paid parking lot with 82 spots with additional street metered parking. Recent upgrades including a new roof in 2021 and new windows in 2023. The area is alive with activity, hosting the beloved Downtown After 5 free street festival, drawing in crowds of around 5,000 every third Friday during the summer months. Restaurant FF&E not included in sale but is negotiable.
PLEASE DO NOT DISTURB THE OWNER OR STAFF. Showings will only take place Monday, Tuesday, Thursday & Friday after 5PM. Saturday showings available upon request. Please email the listing agent, Abigail Griffin, for all showing requests. Listing agent accompany. 24 hour required notice for all showings. Please do not disturb owner.
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