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    498- Merrimon Ave Asheville, NC 28804

    Sponsored
    For Sale
    $885,240

    Asheville, NC commercial land, high visibility.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.31-acre commercial land parcel at 498-506 Merrimon Ave in Asheville, North Carolina (Buncombe County, zip code 28804) presents a unique redevelopment opportunity. Situated on a high-traffic section of Merrimon Avenue, this property boasts over 145 feet of prominent street frontage, offering unparalleled visibility. Its strategic location at the gateway to UNC Asheville and within walking distance of downtown Asheville makes it ideal for a mixed-use development. The property is zoned CB1 and comprises four parcels. An existing two-story masonry building, dating back to the early 1900s, is present on the site. While this building may offer potential for adaptive reuse and integration into a new master plan, any such use requires verification by the buyer. This prime location and significant street frontage make this a compelling investment for developers seeking a high-impact project in a thriving Asheville neighborhood. The asking price is $885,240. This is a truly exceptional opportunity to capitalize on Asheville's dynamic growth.

    Property Features for 498- Merrimon Ave

    General Information

    Property type
    Land
    Lot Size
    13,504 SF

    HighLights

    • 0.31‑acre commercial land parcel at 498‑506 Merrimon Ave, Asheville, NC (28804).
    • Over 145 feet of street frontage on high‑traffic Merrimon Avenue provides excellent visibility.
    • Gateway location to UNC Asheville and walkable to downtown Asheville, ideal for mixed‑use development.
    • Zoned CB1; comprises four parcels; includes an existing two‑story masonry building (early 1900s), potential for adaptive reuse.
    • Asking price: $885,240.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    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 - Asheville, NC commercial land, high visibility.
    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 $885,240.
    What are key features of this property?
    This property features: 0.31-acre commercial land parcel at 498-506 Merrimon Ave, Asheville, NC (28804).; Over 145 feet of street frontage on high-traffic Merrimon Avenue provides excellent visibility.; Gateway location to UNC Asheville and walkable to downtown Asheville, ideal for mixed-use development.
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    498- Merrimon Ave Asheville, NC 28804
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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
    498- Merrimon Ave Asheville, NC 28804
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