346 Merrimon Ave - Medical FOR SALE


Asheville, NC 28801- Five Points
$725,000 USD
828-216-4037
346 Merrimon Ave, Asheville, NC for Sale
$725,000 USD
Medical - FOR SALE
1/24
null | Request Cap Rate

346 Merrimon Ave
Asheville, NC 28801
Five Points


HIGHLIGHTS

  • Prime corridor exposure with signage facing a heavily traveled avenue.
  • Flexible interior configuration adaptable to medical, legal, or creative uses.
  • Recently improved with new roof, boiler, and refreshed interiors.
  • Three existing studio offices offer optional income and operational flexibility.
  • Basement with kitchen and workspace expands functionality for storage or back office.
  • Convenient on-site parking with quick access to both Downtown Asheville and UNC Asheville.

OVERVIEW

346 Merrimon Avenue presents a compelling opportunity to acquire a well-located office asset in the heart of North Asheville. Positioned along one of the city’s most traveled corridors, the property benefits from prominent frontage and visibility to steady daily traffic, creating a natural advantage for professional service users, boutique firms, or investors seeking long-term value in a supply-constrained submarket. Its location between Downtown Asheville and UNC Asheville places it within a vibrant mix of residential neighborhoods, local retailers, and institutional demand drivers, all contributing to consistent activity and strong market fundamentals in the area. The building offers a functional layout supported by valuable recent upgrades, including a new roof, boiler improvements, and cosmetic enhancements. These updates reduce near-term capital exposure while offering an adaptable interior suitable for a range of professional uses such as medical, legal, creative services, or general office needs. The second floor includes three private studio offices that are currently occupied on a month-to-month basis, generating supplemental income and giving future ownership optional flexibility depending on the intended use. Additional features include a basement level equipped with a bathroom, kitchen area, and workspace, expanding the property’s utility for storage, back-office operations, or further improvements. A small garage at the rear offers added convenience for secure storage. On-site parking and dedicated signage exposure enhance accessibility and reinforce the property’s position along a key corridor frequented by daily commuters and neighborhood residents. With its strategic location, ready-to-use improvements, and optional income from existing studios, 346 Merrimon Avenue represents a rare chance to secure an owner-user or investor asset in a sought-after Asheville submarket where high visibility, convenience, and steady demand converge.

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$238 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1926

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

CBI

APN/PARCEL ID

9649-36-4192-00000

ASK ABOUT THIS PROPERTY

Greg PalombiDewey Property AdvisorsMore Info
828-216-4037

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Greg PalombiDewey Property AdvisorsMore Info
828-216-4037

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.