Historic Mixed-Use Redevelopment Investment Opportunity

Investment 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.

Investment 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