853 Merrimon Avenue, Asheville, NC 28804
sale
$2,150,000
|
Retail
Courtesy Of Tessier Associates
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.
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Property Features
- Age: Over 50 Years Old
- Amenities: Deck
- Cooling System: Central Air
- Exterior Type: Brick Partial
- Floors: 2
- Heating System: Forced Air
- Legal Description: 0.47 acres with 10913 sf, two-story building, plus 0.3 acre adjacent lot
- MLSID: 4329956
- Parking Spaces: 90
- Roof Type: Composition
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