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$2,700,000
853 Merrimon Avenue
Asheville, NC 28804
Active
90 days on market
Property Type
Commercial Sale
Year Built
1957
Lot Size
—
Garage
—
About This Home
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.
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.
Property Details
Interior
- Stories
- 2
Exterior & Lot
- Year Built
- 1957
Location
- County
- Buncombe
- ZIP Code
- 28804
Financial
- Listing Terms
- Cash, Conventional
Utilities
- Sewer
- Public Sewer
Schools
Patio & Porch Features
Deck
Lot Features
Level
Location
Listing Information
- MLS #
- CAR4329956
- Listing Agent
- Bill Steigerwald
- Listing Office
- Tessier Associates
- Listed Date
- Mar 15, 2026
Contact Kim Schafer About This Property
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