Freestanding Storefront
For Sale
$525,000
738 Merrimon Avenue, Asheville, NC 28804
Round commercial building suitable for retail or office use near established North Asheville services.
Property Size2,210 SF
Lot Size0.13 Acres
Price / SF$237.56
Days on Market85
Property Features for 738 Merrimon Avenue
General Information
Standard status
Active
Size
2,210 SF
Lot size
0.13 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2000
Buildings
1
Listing Agency:
EXP Realty LLC
Listed By:
Dora Liao · License #292604
(828) 776-3958
Source:
Geoffcampbell
Added: Aug 4
Changed: Oct 26
Last Checked: Oct 26 at 8:33AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This freestanding round storefront building was completed in 2000 and contains approximately 2,210 square feet on a 0.13-acre lot. The property supports retail, office, or investment use within a compact commercial format.
Located on Merrimon Avenue in North Asheville, the building is near Ingles Market, the U.S. Post Office, and Truist Bank. The site also provides access to downtown Asheville and I-240, placing the property within an established commercial corridor.
Located on Merrimon Avenue in North Asheville, the building is near Ingles Market, the U.S. Post Office, and Truist Bank. The site also provides access to downtown Asheville and I-240, placing the property within an established commercial corridor.
Key Highlights
- Freestanding round building completed in 2000
- Approximately 2,210 square feet on a 0.13‑acre lot
- Stated retail, office, and investment use potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,003
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,060
$820.1K
Cap Rate 7%
$585,757
$585.8K
Cap Rate 9%
$455,589
$455.6K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$56.0K $25.32/SF
− Vacancy
−$1.3K −$0.58/SF
EGI
$54.7K $24.74/SF
− OpEx
−$13.7K −$6.18/SF
NOI
$41.0K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,060
Cap Rate 7%
$585,757
Cap Rate 9%
$455,589
Alternative Uses
Best Use
Office B
$585.8K
$512.5K – $683.4K
NOI $41,003 @ 7.0% cap · market cap 7.81%
Second Best
Retail
$370.2K
$323.9K – $431.9K
NOI $25,913 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$698.8K
$611.5K – $815.3K
NOI $48,918 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Round commercial building suitable for retail or office use near established North Asheville services.
Where is this storefront property located?
The property is located at 738 Merrimon Avenue Asheville, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Freestanding round building completed in 2000; Approximately 2,210 square feet on a 0.13‑acre lot; Stated retail, office, and investment use potential
