Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Asheville, NC 28801

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    3,600 SF retail space in Asheville, NC available for lease.

    We can help!

    Listing Contact
    Robey Spratt
    Source: Atlanticretail

    Listing Agent: Robey Spratt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space on Merrimon Avenue

    Located in Asheville, North Carolina, this retail space offers 3,600 square feet of available area on Merrimon Avenue. The property benefits from signalized access and presents a rare opportunity within a competitive market. Its location provides convenient access to I-240, with an average daily traffic count of 84,500 vehicles. The property is situated in proximity to Downtown Asheville, which attracts over 11 million visitors annually. Nearby retailers include Harris Teeter, Whole Foods, and Trader Joe's.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5572
    Latitude
    35.5948

    Nearby Similar for Lease

    • $15,000 /Mo
      39,204 SF

      Downtown Asheville Restaurant/Brewery Opportunity

      Turn-key restaurant/brewery in Asheville's South Slope Brewery District.
      101 S Lexington Ave, Asheville, NC 28801
      View Details
    • $8,000 /Mo
      6,098 SF

      Downtown Asheville Office Space Available

      Prime downtown Asheville office space for lease with income potential.
      124 College St, Asheville, NC 28801
      View Details
    • $44,800
      143,748 SF

      Asheville Retail/Office/Medical Space For Lease

      1,600 SF suite ideal for retail, office, or medical use.
      1829 Hendersonville Rd, Asheville, NC 28803
      View Details
    • $3,200 /Mo

      Downtown Asheville Retail Space

      Premier retail space in the heart of downtown Asheville.
      51 College St, Asheville, NC 28801
      View Details
    • $6,635 /Mo
      60,984 SF

      Prime Retail Space Near Biltmore

      End-cap retail space near Biltmore Village and major landmarks.
      190 Hendersonville Rd, Asheville, NC 28803
      View Details
    • $20 SF/Yr
      79,715 SF

      Biltmore Village Commercial Space

      Warm shell space in Biltmore Village with ample parking.
      30 Bryson St, Asheville, NC 28803
      View Details
    • New
      $3,650 /Mo

      Historic Retail Space in Asheville

      Charming retail space in downtown Asheville with high visibility.
      6 College St, Asheville, NC 28801
      View Details
    • $2,000 /Mo
      43,560 SF

      Asheville Retail or Office Space

      Retail or office space in high-growth corridor near Asheville.
      15 Possum Trot Rd, Asheville, NC 28806
      View Details
    • $24 SF/Yr
      871 SF

      Asheville Office Building For Lease

      Two-story office building in downtown Asheville, zoned CBD.
      168 Patton Ave, Asheville, NC 28801
      View Details
    • New
      $3,172 /Mo
      436 SF

      Retail Space in Asheville Center

      Retail space with flexible floor plan in Asheville shopping center.
      4 S Tunnel Rd, Asheville, NC 28805
      View Details
    • $28 SF/Yr
      6,098 SF

      Downtown Asheville Office Space Available

      Second floor office space for lease in downtown Asheville.
      60 Biltmore Ave, Asheville, NC 28801
      View Details
    • $25 SF/Yr
      2,246 SF

      Downtown Asheville Retail Space

      Prime retail space in vibrant downtown Asheville location.
      29-33 Page Ave, Asheville, NC 28801
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,600 SF retail space in Asheville, NC available for lease.
    Where is this retail space located?
    The property is located at Asheville, NC.
    What are key features of this property?
    This property features: - Prime location on Merrimon Avenue in Asheville, NC.; - 3,600 SF of available space.; - Signalized access for convenient entry.
    (704) 697-1901
    Request Owner's contact information
    Asheville, NC 28801
    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.
    Asheville, NC 28801
    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
    Asheville, NC 28801
    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

    We can help!
    Listing Contact
    Robey Spratt
    (704) 697-1901
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.