251 Biltmore AveAsheville, NC 28801

Property Details for 251 Biltmore Ave

Year built

1949

Construction

CONCRETE BLOCKS

Lot size

0.18 AC

Property size (Sq ft)

4,918 SF

Zone code

DEED DATE: 09/29/2000 DEE

Property type

Retail properties

Property subtype

Bars

APN

9648-47-1240-00000

APU

964847124000000

Description

This exceptional 4,717 sq ft freestanding commercial building is ideally situated on a high-visibility corner lot in Asheville's vibrant South Slope District. Boasting 174 feet of frontage on a four-lane road with 15,500 vehicles per day, this property offers unparalleled exposure. Located near McCormick Field, Mission Hospital, and numerous breweries, its prime location ensures high traffic and visibility. The single-story building, constructed in 1949, sits on a 0.18-acre lot and features a loading dock, two roll-up doors, and impressive ceilings ranging from 11 to 14.5 feet. Inside, you'll find concrete flooring, a brewing room, two bars, ample storage, and office space. Currently zoned CBD, this property presents a unique owner-user opportunity in a thriving market. The building's layout is well-suited for a variety of uses, including a bar, restaurant, or storefront. Asheville's bustling economy and designation as a top city for starting businesses make this a compelling investment. The asking price is $1,290,000. The property's APN is 964847124000000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,395,082

  6.5%

  $1,287,768

  7%

  $1,195,784

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,020,345

  Geo Method

  $1,020,345

• Alternative Use

  Use

  Valuation

  Residential

  $1,086,280

  Hospitality

  $995,027

  Educational

  $827,851

  Medical

  $856,322

  Retail

  $1,287,768

Location Insight

City

Asheville

County

Buncombe

State

North Carolina

Latitude

35.5863

Longitude

-82.552

CBSA code

11700

CBSA name

ASHEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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