Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    502-506 Merrimon Ave Asheville, NC 28804

    • Commercial real estate
    • 0.13 lot acres
    For Sale
    View listing
    $621,740
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 502-506 Merrimon Ave

    Lot size
    0.13 lot acres
    Property type
    Commercial real estate

    Description

    This unique redevelopment opportunity encompasses two parcels totaling 0.13 acres at 502-506 Merrimon Avenue in Asheville, NC. Strategically located at the gateway to UNC Asheville and the corner of Chatham Road, this property boasts high visibility on a major thoroughfare with excellent walkability to downtown. The site presents a prime canvas for a mixed-use development project, capitalizing on its exceptional location and high traffic counts. The existing structure, a two-story masonry building dating back to the early 1900s, offers potential for adaptive reuse and integration into a new master plan

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.5549
    Latitude
    35.616

    Comparable in this City

    • Value Estimation by Request
      0.34 Acres

      75 Weaverville Rd

      Commercial real estate • 0.34 Acres
      75 Weaverville Rd, Woodfin, NC 28804
      View Details
    • Value Estimation by Request
      0.06 Acres

      Sunset Dr

      COMMERCIAL (GENERAL) • 0.06 Acres
      Sunset Dr, Asheville, NC 28804
      View Details
    • Value Estimation by Request
      0.12 Acres

      229 Weaverville Rd

      COMMERCIAL (GENERAL) • 0.12 Acres
      229 Weaverville Rd, Asheville, NC 28804-1243
      View Details
    • Value Estimation by Request
      10.64 Acres

      99999 Lynn Cove Rd

      Land • 10.64 Acres
      99999 Lynn Cove Rd, Asheville, NC 28804
      View Details
    • Value Estimation by Request
      26,075 SF

      640 Merrimon Ave

      COMMERCIAL (GENERAL) • 26,075 SF
      640 Merrimon Ave, Asheville, NC 28804-3400
      View Details
    • Value Estimation by Request
      3,744 SF

      712 Merrimon Ave

      COMMERCIAL (GENERAL) • 3,744 SF
      712 Merrimon Ave, Asheville, NC 28804-2450
      View Details

    Similar Nearby for Sale

    • $450,000
      0.34 Acres

      Woodfin Commercial Redevelopment Opportunity

      Prime Woodfin location, 0.34 acres, needs remodel.
      75 Weaverville Rd, Woodfin, NC 28804
      View Details
    • $885,240
      0.31 Acres

      Merrimon Ave Redevelopment Opportunity

      Asheville, NC commercial land, high visibility.
      498- Merrimon Ave, Asheville, NC 28804
      View Details
    • $621,740
      0.13 Acres

      Asheville Commercial Land Opportunity

      Prime Merrimon Ave. redevelopment site.
      502 Merrimon Ave, Asheville, NC 28804
      View Details
    • $995,000
      3.03 Acres

      Asheville Commercial Land - I-26

      3-Acre Development Site, High Visibility
      99999 Reynolds Mtn Blvd, Woodfin, NC 28804
      View Details
    • $621,740
      0.13 Acres

      Merrimon Ave Redevelopment Opportunity

      Asheville Mixed-Use Potential, High Traffic
      502-506 Merrimon Ave, Asheville, NC 28804
      View Details
    • $263,500
      0.18 Acres

      Asheville Commercial Land - $263,500

      Prime Merrimon Ave. Redevelopment Opportunity
      498 Merrimon Ave, Asheville, NC 28804
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      469,577 SF

      Merrimon Ave Retail Center

      North Asheville retail spaces available
      41 Merrimon Ave, Woodfin, NC 28804
      View Details
    • $17 SF/Yr
      1,681 SF

      Retail Space in Reynolds Village

      Retail suites available in a mixed-use development in North Asheville.
      61 N Merrimon Ave, Asheville, NC 28804
      View Details
    • $2,500 /Mo

      Woodfin Commercial Space For Rent

      Commercial space in up-and-coming Woodfin River Arts District.
      941 Riverside Dr, Asheville, NC 28804
      View Details
    • $5,000 /Mo

      Woodfin Commercial Opportunity

      Commercial building in up-and-coming Woodfin River Arts District.
      943 Riverside Dr, Asheville, NC 28804
      View Details
    • $800 /Mo
      18,731 SF

      North Asheville Corner Office Space

      Desirable corner office with utilities included in North Asheville.
      7 Beaverdam Rd, Asheville, NC 28804
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502-506 Merrimon Ave
    Asheville, NC 28804
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.