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    498 Merrimon Ave Asheville, NC 28804

    Sponsored
    For Sale
    $263,500

    Prime Merrimon Ave. Redevelopment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.18-acre commercial land parcel, located at 498 & 500 Merrimon Avenue in Asheville, North Carolina (zip code 28804, Buncombe County), presents a unique redevelopment opportunity. The property, encompassing APN 9649-37-5600 and 9649-38-6060, is zoned CB1 and enjoys a highly visible location on Merrimon Avenue, a major thoroughfare. Its strategic position at the gateway to UNC Asheville, between Weaver Boulevard and Chatham Road, offers excellent walkability to downtown Asheville. The site's potential is further enhanced by its proximity to key areas and high traffic volume. The property includes an existing partially collapsed structure, which may offer potential for adaptive reuse or incorporation into a new development plan; however, buyers are advised to independently verify the feasibility of such reuse. This offering presents an ideal opportunity for a mixed-use redevelopment project. The property can be acquired independently or as part of a larger acquisition that includes two adjacent Merrimon Avenue properties. This is a rare chance to acquire a significant piece of land in a thriving Asheville location.

    Property Features for 498 Merrimon Ave

    General Information

    Property type
    Land
    Lot Size
    7,841 SF

    HighLights

    • $263,500 asking price.
    • 0.18‑acre commercial land parcel.
    • Located at 498 & 500 Merrimon Ave, Asheville, NC 28804.
    • CB1 zoning.
    • APN: 9649‑37‑5600, 9649‑38‑6060.
    Property Profile Location Intelligence

    Current Use by Public Records

    Infinity Group Financial Planner

    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
    -82.554785402316
    Latitude
    35.615785487901

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    FAQs

    What type of property is this?
    Land - Prime Merrimon Ave. Redevelopment Opportunity
    Where is this land located?
    The property is located at 498 Merrimon Ave Asheville, NC.
    What is the asking price?
    The asking price for this property is $263,500.
    What are key features of this property?
    This property features: $263,500 asking price.; 0.18-acre commercial land parcel.; Located at 498 & 500 Merrimon Ave, Asheville, NC 28804.
    Request Owner's contact information
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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
    498 Merrimon Ave Asheville, NC 28804
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