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About This Home
This 0-bedroom, 0-bathroom commercial at 853 Merrimon Avenue in Asheville, NC is listed for $2,700,000. Built in 1957, on a 0.78 acres lot.
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.
Key Features
- Built in 1957
- 0.78 acre lot
- 2 stories
- 90 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$14,440/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
853 Merrimon Avenue
Asheville, NC 28804
Property Details
Construction
Pool Features
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 853 Merrimon Avenue is listed at $2,700,000. The estimated monthly payment is $11,700 based on 20% down at 6.5% interest.
Key features include: Built in 1957, 0.78 acre lot, 2 stories, 90 parking spaces.
This property is listed by Bill Steigerwald and can be reached at 8284609529 or bill.steig@tessiergroup.com.
