Freestanding Round Retail
For Sale
$525,000
738 Merrimon Avenue, Asheville, NC 28804
Commercial Sale, Asheville, NC
Property Size2,210 SF
Lot Size0.13 Acres
Price / SF$237.56
Days on Market634
Property Features for 738 Merrimon Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
CBII
Rooms
Basement
Parking
5
Basement
Storage Space
Standard status
Active
APN
9740-30-8932-00000
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
DIST:9 CITY/MUNI/TWP:CITY OF ASHEVILLE DEED DATE:03/15/2016 DEED:5405-0453 SUBDIV:JW NICHOLS PROP LOT:PT LT 5 PLAT:0001-0036 MAP REF:MB 1 PG 36
Legal Description
DIST:9 CITY/MUNI/TWP:CITY OF ASHEVILLE DEED DATE:03/15/2016 DEED:5405-0453 SUBDIV:JW NICHOLS PROP LOT:PT LT 5 PLAT:0001-0036 MAP REF:MB 1 PG 36
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2000
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Dora Liao · License #292604
(828) 776-3958
Added: Feb 7, 2025
Changed: Oct 8
Last Checked: Nov 2 at 5:06PM
MLS# 4220017
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.
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Investment Insights
Based on property information with market context.
This freestanding retail building has a circular form and dates to 2000. It contains approximately 2,210 square feet on a 0.13-acre parcel, with central heating and central air conditioning. A basement is also listed among the property’s rooms, and the site is served by public sewer.
The property is on Merrimon Avenue in North Asheville. Nearby amenities named for the area include Ingles Market, the U.S. Post Office, and Truist Bank. Downtown Asheville and I-240 are identified as accessible from the property.
The property is on Merrimon Avenue in North Asheville. Nearby amenities named for the area include Ingles Market, the U.S. Post Office, and Truist Bank. Downtown Asheville and I-240 are identified as accessible from the property.
Key Highlights
- Freestanding retail building with a round design
- Approximately 2,210 square feet on a 0.13‑acre lot
- Built in 2000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,913
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,260
$518.3K
Cap Rate 7%
$370,186
$370.2K
Cap Rate 9%
$287,922
$287.9K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$37.7K $17.04/SF
− Vacancy
−$640 −$0.29/SF
EGI
$37.0K $16.75/SF
− OpEx
−$11.1K −$5.03/SF
NOI
$25.9K $11.73/SF
Area
Buncombe County, NC
Vacancy
1.70%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,260
Cap Rate 7%
$370,186
Cap Rate 9%
$287,922
Alternative Uses
Best Use
Retail
$370.2K
$323.9K – $431.9K
NOI $25,913 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 33%
Shops & Services 22%
Home Improvements & Furnishings 10%
Ingles
Groceries
34,854 visits/mo
0.4 miles
The Fresh Market
Groceries
19,343 visits/mo
0.4 miles
McDonald's
Dining
16,533 visits/mo
0.0 miles
Wendy's
Dining
10,700 visits/mo
0.4 miles
Young Ace Hardware Of North Asheville
Home Improvements & Furnishings
9,989 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Central heating and air conditioning serve this standalone commercial property on Merrimon Avenue.
Where is this retail space 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 retail building with a round design; Approximately 2,210 square feet on a 0.13‑acre lot; Built in 2000
