853 Merrimon Avenue

Asheville , NC 28804

MLS#: 4329956

$2,800,000

Status: Active
Listing number: 4329956
Listing provided by: Tessier Associates
Listing agent phone: None
Last update: a month ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1957

Sq.Footage

N/A

A rare property, two parcels together offering .78 acres, 130' of frontage on Merrimon corridor in North Asheville. Can be a redevelopment or investment opportunity with high traffic (17,500 cars/day) in the heart of the desirable Grace Neighborhood. One mile from downtown Asheville, 1/2 mile from UNC-A. The area is just south of the very desirable Beaver Dam and Asheville Country Club area, and is known for walkability and proximity to downtown. The Grace Building is on the highly trafficked Merrimon Ave. (17,500 cars daily) with 130’ of frontage. Pro forma suggests a cap rate of 7.5% with spaces full at market rates. Plenty of surface parking especially with the included 0.31 acre lot behind the building. With some renovation and/or creative re-development, given its desirable location, this is a strong, long-hold investment. The property is zoned CBII and RM enabling a multitude of uses, including retail, food / beverage / brewing, professional office, medical office, fitness and art studios, among others. There are 5500 residences within 1/2 mile of this location.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Patio and Porch Features

    Deck

  • Pool

    No

Area & Lot

  • Lot Features

    Level

  • Property Type

    Commercial Sale

  • Property Sub Type

    Retail

Price

  • Sales Price

    $2,800,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

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Location

County

Buncombe

Elementary School

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Listing Courtesy of Bill Steigerwald , Tessier Associates

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A rare property, two parcels together offering .78 acres, 130' of frontage on Merrimon corridor in North Asheville. Can be a redevelopment or investment opportunity with high traffic (17,500 cars/day) in the heart of the desirable Grace Neighborhood. One mile from downtown Asheville, 1/2 mile from UNC-A. The area is just south of the very desirable Beaver Dam and Asheville Country Club area, and is known for walkability and proximity to downtown. The Grace Building is on the highly trafficked Merrimon Ave. (17,500 cars daily) with 130’ of frontage. Pro forma suggests a cap rate of 7.5% with spaces full at market rates. Plenty of surface parking especially with the included 0.31 acre lot behind the building. With some renovation and/or creative re-development, given its desirable location, this is a strong, long-hold investment. The property is zoned CBII and RM enabling a multitude of uses, including retail, food / beverage / brewing, professional office, medical office, fitness and art studios, among others. There are 5500 residences within 1/2 mile of this location.

853 Merrimon Avenue

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