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    502 Merrimon Ave Asheville, NC 28804

    Sponsored
    For Sale
    $621,740

    Prime Merrimon Ave. redevelopment site.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.13-acre commercial land parcel, located at 502 & 506 Merrimon Avenue in Asheville, North Carolina (APN: 9649-38-6076, 9649-38-6063, Zip Code: 28804), presents a unique redevelopment opportunity. Situated on a high-traffic section of Merrimon Avenue, at the gateway to UNC Asheville and the corner of Chatham Road, this property boasts excellent walkability to downtown Asheville. The site is zoned CB1 and offers potential for a mixed-use development project. The property includes two parcels and comprises an early 1900s two-story masonry building which may be suitable for adaptive reuse, though verification by the buyer is recommended. This offering can be acquired independently or as part of a larger purchase encompassing adjacent Merrimon Avenue properties. The asking price for this prime Asheville location is $621,740. This is an ideal investment for developers seeking a high-visibility location with significant potential for future growth and return.

    Property Features for 502 Merrimon Ave

    General Information

    Property type
    Land
    Lot Size
    5,663 SF

    HighLights

    • $621,740 asking price for 0.13 acres of commercial land.
    • Located at 502 & 506 Merrimon Ave, Asheville, NC 28804.
    • APN: 9649‑38‑6076, 9649‑38‑6063; zoned CB1.
    • High‑traffic location on Merrimon Ave, near UNC Asheville and downtown.
    • Redevelopment opportunity; potential for mixed‑use project and adaptive reuse of existing building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -82.554899216731
    Latitude
    35.616153635489

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    FAQs

    What type of property is this?
    Land - Prime Merrimon Ave. redevelopment site.
    Where is this land located?
    The property is located at 502 Merrimon Ave Asheville, NC.
    What is the asking price?
    The asking price for this property is $621,740.
    What are key features of this property?
    This property features: $621,740 asking price for 0.13 acres of commercial land.; Located at 502 & 506 Merrimon Ave, Asheville, NC 28804.; APN: 9649-38-6076, 9649-38-6063; zoned CB1.
    Request Owner's contact information
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    Asheville, NC 28804
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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
    502 Merrimon Ave Asheville, NC 28804
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