1 Summit Ave Asheville, NC 28803
This exceptional commercial property in Asheville, North Carolina, presents a unique investment opportunity. Located at 1 W Summit Ave, this 0.08-acre lot features two buildings totaling approximately 900 square feet, offering potential for two independent businesses or a single larger operation. Built in 1964, the buildings are currently in rough condition and require significant renovation, presenting a chance to customize the space to your exact specifications. The property boasts excellent visibility from US Highway 25 (Hendersonville Road), with ample parking and attractive road frontage ideal for signage. City water and sewer utilities are available. The zoning is designated as HB (Highway Business), and the property benefits from a desirable location surrounded by restaurants, strip centers, retail shops, offices, and banks, as evidenced by the surrounding commercial neighbors. The existing structures need complete renovation, including wiring and plumbing upgrades, to meet current standards. The property's landscaping, including mature trees and decking, offers significant aesthetic potential. The asking price is $360,000. Buyers are advised to verify zoning details with the Buncombe County zoning department. The property is sold "as-is, where-is," with the seller not undertaking any improvements.
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.