UPDATED:
Key Details
Property Type Commercial
Sub Type Retail Center
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4329956
Year Built 1957
Lot Size 0.780 Acres
Acres 0.78
Property Sub-Type Retail Center
Property Description
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.
Location
State NC
County Buncombe
Zoning CBII
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building, Land
Exterior
Roof Type Composition
Street Surface Paved
Porch Deck
Total Parking Spaces 90
Building
Lot Description Level
Dwelling Type Site Built
Sewer Public Sewer
Water City
Structure Type Brick Partial
New Construction false
Others
Senior Community false
Restrictions Height,No Restrictions
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Nearby School & Business
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Rick And Glayden Carney
Realtor®/Broker | License ID: 313815
Realtor®/Broker License ID: 313815
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