Entitled Car Wash Development Site – Asheville, NC

Investment Overview

AVAILABLE INDIVIDUALLY OR AS PART OF A NINE-SITE PORTFOLIO Alpha Real Estate Advisors LLC is pleased to exclusively present 289 New Leicester Highway, Asheville, NC 28806, an entitled car wash development site offering a rare ground-up development opportunity on one of Western North Carolina's highest-traffic commercial corridors. This 1.47-acre parcel sits along New Leicester Highway (NC 63), a 5-lane commercial corridor in West Asheville, with a conceptual commercial site plan already on file demonstrating a commercially-viable building footprint and full-circulation layout for an express car wash development. The site fronts New Leicester Highway, whose signalized intersection with Patton Avenue — just minutes from the property — is repeatedly cited by local reporting as one of Asheville's busiest and highest-volume intersections, carrying an estimated ±44,000 vehicles per day combined. The corridor already anchors established retail development, including the multi-outparcel Shoppes at Winston's Corner at a signalized intersection along the highway, serving as proof of concept that this stretch supports high-traffic commercial uses. Buncombe County has grown more than 15% since 2010 to roughly 277,000 residents today, with Asheville as its county seat and largest city. Median household income in Asheville and Buncombe County runs in the low-to-mid $70,000s, above the North Carolina state average, in a market where 53% of adults hold a bachelor's degree or higher — among the most educated populations in the state. West Asheville commercial property values are up roughly 9% year-over-year, reflecting strong, active demand for commercial real estate in this specific submarket. Following Hurricane Helene in September 2024, the Asheville region has received substantial state and federal recovery investment: FEMA public assistance funding to North Carolina now tops $2 billion, the state's most recent budget directs an additional $706 million to Western North Carolina Helene recovery, and the City of Asheville alone received a $225 million HUD Community Development Block Grant for disaster recovery. This scale of public and private capital moving into the region over the next several years represents a meaningful tailwind for ground-up commercial development positioned to open as that investment matures. Additional property information and the full Offering Memorandum are available to qualified purchasers upon execution of an NDA.

Investment Highlights

• Fully Permitted Development Site — Significant site work completed with entitlements in place for a new express car wash.
• High-Traffic West Asheville Corridor — New Leicester Highway carries ±27,717 VPD with strong commercial visibility.
• Established Retail Trade Area — Surrounded by grocery, pharmacy, auto, banking and quick-service operators.
• Minutes from Downtown Asheville — Positioned along one of Buncombe County’s fastest-growing development corridors.
• Strong Market Tailwinds — Tourism, population growth and continued regional reinvestment support long-term demand.