498- Merrimon Ave, Asheville, NC 28804
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.