Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    704 Riverside Drive Asheville, NC 28801

    View on Map
    For Sale
    Under Contract
    $250,000

    COMMERCIAL - Asheville, NC

    Lot size:
    0.13 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    40
    Last Refresh:
    Mar 31 at 4:06 pm

    Property Features for 704 Riverside Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active Under Contract
    APN
    9639-65-8574-00000
    Lot size
    0.13 Acres

    Taxes and HOA fees

    TaxDescription
    DEED DATE:08/30/2019 DEED:5806-1158 PLAT:0000-0000

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1960
    Floors in Building
    1
    Building materials
    Block, Hard Stucco
    Roof type
    Metal

    We can help!

    Listing Contact
    Matt Jones
    Matt Jones

    Listing agent Matt Jones License #279516

    Listing office Pinnacle Lifestyle Realty LLC 89 Meadow Run Dr, mills river, NC

    Listing date Feb 19, 2026

    MLS# 4347154

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Riverside Drive Commercial Opportunity

    This commercial property, formerly an outfitter, is located in North Asheville at Pearson Bridge, adjacent to the French Broad River. The site provides river access upstream from Riverside Park and Taylor's Wave, a whitewater wave attraction. The Riverlink Gateway Park project, running along Riverside Drive, aims to connect this area to The River Arts District, potentially increasing visitor traffic. The building, which was flooded, has been stripped to a shell with partitions and one bathroom. A shed/boathouse is also included. Railroad tracks are present on the property. The property is being sold "As-Is", and the sale is subject to court approval and a 10-day upset bid period. The lot size is 0.13 acres.
    Location Intelligence

    Current Use by Public Records

    French Broad Outfitters (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Pharmacy Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bloomin' Art — 60 Haywood St, Asheville, NC 28801
    • Studio Flora Diva Inc — 1 Page Ave #112-H, Asheville, NC 28801
    • Sam's Club Floral — 645 Patton Ave, Asheville, NC 28806

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.577657
    Latitude
    35.608498

    Nearby Similar for Sale

    • $4,500,000

      Asheville Bed and Breakfast Opportunity

      Historic property near downtown Asheville with income potential.
      173 E Chestnut Street, Asheville, NC 28801
      View Details
    • $2,700,000

      Prime Asheville Redevelopment Opportunity

      Two parcels totaling 0.78 acres in desirable Grace Neighborhood.
      853 Merrimon Avenue, Asheville, NC 28804
      View Details
    • $349,000

      Asheville Multifamily Income Property

      Duplex with income potential, convenient location, and outdoor amenities.
      8 Linda Vista Drive, Asheville, NC 28806
      View Details
    • $4,900,000

      Downtown Asheville Mixed-Use Opportunity

      24,000 SF mixed-use building in downtown Asheville for sale.
      124 College Street, Asheville, NC 28801
      View Details
    • $425,000

      Asheville Duplex Near Greenway

      Duplex in West Asheville with greenway access and income potential.
      448 Sand Hill Road, Asheville, NC 28806
      View Details
    • $5,675,000

      Brewery/Restaurant Space in Downtown Asheville

      Fully equipped brewery and restaurant in the heart of Asheville.
      39 N Lexington Avenue, Asheville, NC 28801
      View Details
    • $850,000

      Asheville Home with Mountain Views

      Home with rental income potential near Beaver Lake.
      17 Elkmont Terrace, Asheville, NC 28804
      View Details
    • $1,890,000

      Asheville Riverfront Multi-Property Portfolio

      Three properties with short-term rental potential near downtown Asheville.
      1057, 1061, 1063 Riverside Drive, Asheville, NC 28804
      View Details
    • $605,000

      Asheville Multifamily with Rental Income

      Two homes on a corner lot with short-term rental potential.
      75 Cisco Road, Asheville, NC 28805
      View Details
    • $1,250,000

      Asheville Riverfront Multi-Family Investment

      Two properties with short-term rental potential and river views.
      1061 and 1063 Riverside Drive, Asheville, NC 28804
      View Details
    • $1,050,000

      Asheville Multifamily Investment Opportunity

      Fully leased property with five homes near downtown Asheville.
      17 Hat Creek Drive, Asheville, NC 28806
      View Details
    • $565,000

      High-Traffic Asheville Commercial Property

      Freestanding building on Merrimon Avenue, suitable for retail or office.
      738 Merrimon Avenue, Asheville, NC 28804
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property with river access and development potential in Asheville.
    Where is this storefront property located?
    The property is located at 704 Riverside Drive Asheville, NC.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Prime location next to the French Broad River in North Asheville.; Easy river access, upstream from Riverside Park and Taylor's Wave whitewater attraction.; Proximity to the Riverlink Gateway Park project, connecting to the River Arts District.
    (828) 508-9589
    We can help!
    Listing Contact
    Matt Jones
    Matt Jones
    Real Estate License ID: 279516
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!