853 Merrimon Avenue, Asheville, NC 28804

• 8,975 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

March 4, 2026 at 7:16AM

Listing Office:

Tessier Associates : 828-254-9842

MLS ID:

4329956

Interior

• A/C: Central Air
• Heating: Forced Air

Exterior

• Other Structures: Deck
• Parking: Parking spaces: 90

Construction

• Roofing: Composition
• General: Site Built

Location

• Road/Access: 130
• Originating MLS: carolina
• County: Buncombe

Lot

• Zoning: CB2974042512900000
• Restrictions: Height restriction per zoning.

Utilities

• Water: City
• Sewer: Public Sewer

Financial

• Source: carolina