148 TUNNEL RD, ASHEVILLE, NC 28805-1818

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.