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Property profile & analytics
OFF-MARKET
Commercial real estate

1 Summit Ave Asheville, NC 28803

900 SF 0.08 ac lot Built 1964
Property ID
US53-0926722
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Commercial real estate
Year built 1964
Total area 900 SF
Lot 0.08 ac (3,485 SF)
UPID US53-0926722
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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