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    502-506 Merrimon Ave Asheville, NC 28804

    For Sale
    $621,740

    Asheville Mixed-Use Potential, High Traffic

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    311
    This unique redevelopment opportunity encompasses two parcels totaling 0.13 acres at 502-506 Merrimon Avenue in Asheville, NC. Strategically located at the gateway to UNC Asheville and the corner of Chatham Road, this property boasts high visibility on a major thoroughfare with excellent walkability to downtown. The site presents a prime canvas for a mixed-use development project, capitalizing on its exceptional location and high traffic counts. The existing structure, a two-story masonry building dating back to the early 1900s, offers potential for adaptive reuse and integration into a new master plan

    Property Features for 502-506 Merrimon Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    5,663 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.55494
    Latitude
    35.61599

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    FAQs

    What type of property is this?
    Commercial real estate - Asheville Mixed-Use Potential, High Traffic
    Where is this commercial real estate located?
    The property is located at 502-506 Merrimon Ave Asheville, NC.
    What is the asking price?
    The asking price for this property is $621,740.
    (828) 210-3940
    Request Owner's contact information
    502-506 Merrimon Ave Asheville, NC 28804
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    Asheville, NC 28804
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    Realmo Value Estimation

    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.

    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.

    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
    502-506 Merrimon Ave Asheville, NC 28804
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