Welcome to 122 College Street"”a rare opportunity to acquire a turnkey mixed-use asset directly on Pack Square with commercial income in place. No other properties can match the pairing of high-quality luxury residences with dependable commercial income"”at a compelling basis of $387 per SF.
All major capital improvements are complete. Offered fully furnished, the property is ready for immediate use or income generation.
Upper floors feature two 2BR/2BA units and a 3BR/3.5BA luxury penthouse, all accessed via private entrance. Highlights include exposed brick, high ceilings, large windows with city and mountain views. The penthouse has 25' ceilings, a 380 SF loft, and the only private rooftop terrace overlooking Pack Square Park, a truly spectacular amenity.
Below the residences are two fully leased commercial spaces: a 3,000 SF street-level restaurant with a full commercial kitchen and a 3,000 SF lower-level bar, providing dependable income in one of Downtown Asheville's most visible and active locations.
Ownership options include holding as a turnkey mixed-use investment, occupying or leasing the residences, or pursuing a condominium conversion strategy with potential to resell individual units at pricing more consistent with Downtown Asheville's luxury residential market.
Currently offered at $4,600,000 | $387 per square foot.
Property Type(s):
Commercial
|
Year Built
|
1917
|
County
|
Buncombe
|
Additional Details
| BASEMENT |
Finished, Walk-Up Access, Yes |
| CONSTRUCTION |
Brick |
| LOT |
3049 sq ft |
| LOT DIMENSIONS |
0.07 |
| MLS STATUS |
Active |
| SEWER |
Public Sewer |
| STORIES |
4 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City, Mountain(s) |
Location
Listed with Whitney Commercial Real Estate
Date last updated: 2/14/26 2:50 AM PST
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This IDX solution is (c) Diverse Solutions 2026.
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