Mixed-Use Retail
New
For Sale
Contact for pricing
41 - 61 N Merrimon Avenue #101-119, Asheville, NC 28804
Retail offerings span five buildings, with 200 apartments positioned above commercial space throughout the development.
Property Size2,010 SF
Days on Market5
Property Features for 41 - 61 N Merrimon Avenue #101-119
General Information
Standard status
Active
Size
2,010 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
recreational and fitness facility
Public Sewer
Additional parcels description:, Parcel Number: 9730-77-6740-00000, Assessed Value: $3.1664e+07
Laminate
Central Air
Forced Air
Listing ID: CAR4439340, Standard Status: Active, MLS Status: Active, Property Subtype: Retail
Other Parking: Surface, On Street
Built in 2010, Living area: 11000, 6 buildings, Construction Materials: Brick Partial, Hard Stucco
County/Parish: Buncombe
Mountain(s)
Cable Available, Electricity Connected, Water Source: City
Frontage Type: City Street, Interstate 1 mile or Less, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
2,010 SF
Year Built
2010
Listing Agency:
Whitney Commercial Real Estate
(828) 665-9085
Listed By:
Laiken Moore · License #338132
(828) 243-1941
Source:
Blackstreaminternational
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 3:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Whitney Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Multiple retail suites are available across five buildings at Shops at Reynolds Village, a mixed-use development with a central corridor and a range of suite sizes. The property is listed at 11,000 square feet and was built in 2010. Two hundred apartments are located above retail space throughout the complex; apartment occupancy is 98.5 percent. A recreational and fitness facility is also part of the development, and free parking is positioned directly in front of the shops.
The property at 41–61 N Merrimon Avenue is at I-26 Exit 23, four miles from downtown Asheville and a one-minute drive from Beaver Lake. Weaverville Road is also nearby, with access to North and Central Asheville, Woodfin, and Weaverville by freeway or surface streets.
The property at 41–61 N Merrimon Avenue is at I-26 Exit 23, four miles from downtown Asheville and a one-minute drive from Beaver Lake. Weaverville Road is also nearby, with access to North and Central Asheville, Woodfin, and Weaverville by freeway or surface streets.
Key Highlights
- 200 apartments above retail space throughout the complex; apartment occupancy is 98.5 percent
- 11,000 square feet across five buildings
- Built in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,563
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,351,260
$2.4M
Cap Rate 7%
$1,679,471
$1.7M
Cap Rate 9%
$1,306,256
$1.3M
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$198.0K $18.00/SF
− Vacancy
−$9.9K −$0.90/SF
EGI
$188.1K $17.10/SF
− OpEx
−$70.5K −$6.41/SF
NOI
$117.6K $10.69/SF
Area
Buncombe County, NC
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,351,260
Cap Rate 7%
$1,679,471
Cap Rate 9%
$1,306,256
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,977 @ 7.0% cap · market cap 12,897,700.00%
Second Best
Mixed Use
$1.68M
$1.47M – $1.96M
NOI $117,563 @ 7.0% cap · market cap 11,756,300.00%
Theoretical Best
Office A
$3.48M
$3.04M – $4.06M
NOI $243,484 @ 7.0% cap · market cap 24,348,400.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,706
Businesses Nearby
288k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Dining 21%
Hotels & Casinos 17%
Shops & Services 16%
Trader Joe's
Groceries
46,740 visits/mo
0.2 miles
Harris Teeter
Groceries
45,099 visits/mo
0.2 miles
Chick-fil-A
Dining
41,844 visits/mo
0.3 miles
Whole Foods Market
Groceries
20,347 visits/mo
0.1 miles
Shell
Shops & Services
20,324 visits/mo
0.0 miles
Demographics for 28804, NC
23,964
Population
11,716
Households
2
Avg Household Size
44
Median Age
60%
College-Educated
93%
High-School Grad
28.7 sq mi
ZIP Area
835
Density / Sq Mi
$79,709
Median Household Income
$37,169
Median Earnings
$1,399
Median Rent
$528,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail offerings span five buildings, with 200 apartments positioned above commercial space throughout the development.
Where is this mixed-use property located?
The property is located at 41 - 61 N Merrimon Avenue #101-119 Asheville, NC.
What are key features of this property?
This property features: 200 apartments above retail space throughout the complex; apartment occupancy is 98.5 percent; 11,000 square feet across five buildings; Built in 2010
