11 N Market Street, Asheville, NC 28801 - Photo 1

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$10,000,000

For Sale
Active
Commercial
52,505 Sq. Ft.
0.52 Acres

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Property Description

Downtown Asheville, NC Redevelopment Opportunity. 11 N. Market St has been home to the Van Winkle Law Firm since 1987 following a certified historic tax credit rehabilitation. It was constructed as the Western Carolina Automobile Company by John Lange, who also developed the Langren Hotel in downtown Asheville and the Glen Rock Hotel in the River Arts District. Due to the scarcity of comparable downtown Asheville parcels available at any given point in time, there is a generational opportunity to redevelop this office building with a long, rich history along with two ideally located corner parcels. 3 parcels. 52,505 sf building to redevelop, 2 additional parcels each 0.14 acres. Located in small hotel overlay district <35 rooms. 145' height limit on 11 N. Market & 1 parcel. Other parcel 265' height limit. Desirable CBD zoning. Seller will consider a leaseback post closing as well as seller financing.

Full Property Details

Full Property Details for 11 N Market St

General

Price: $10,000,000
Status: Active
Type: Commercial
Source: Charlotte_Regional_Realtor_Association
MLS ID: 3849830
Updated: 4/15/2024
Added to Site: 1, 186 day(s) ago

Interior

Flooring: Carpet, Concrete, Tile, Vinyl

Location

County: Buncombe
Complex: None
Driving Directions: Located downtown Asheville, NC
City Limits: Yes

Heating & Cooling

Cooling Type: Central Air
Heating Type: Central, Natural Gas

Utilities

Sewer: Public Sewer
Water: City

Structural Information

# Buildings: 1
Construction: Site Built
Exterior Const.: Stone
Roof: Concrete, Rubber
Square Feet: 52,505
Minimum Avail: 52,505 Sq. Ft.
Year Built: 1931

Lot Features

Lot Size (Acres): 0.52
Rcmdd Zoning: CBD

Financial Considerations

Terms: Lease Back

Disclosures and Reports

Inclusions: Building, Land, Other
Property ID: 9649-40-4880-00000
Lot Number: 1956-657

Listed by G/M Property Group

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Schools

Schools serving 11 N Market St

School District:Asheville City Schools

Name	Grades	Distance
Claxton Elementary School, Asheville, NC 241 Merrimon Ave, Asheville, NC 28801	K-5	0.8 mi
Isaac Dickson Elementary School 125 Hill St, Asheville, NC 28801	K-5	0.8 mi
Hall Fletcher Elementary School 60 Ridgelawn Rd, Asheville, NC 28806	PK-5	2 mi
Asheville Middle School 211 S French Broad Ave, Asheville, NC 28801	6-8	0.8 mi
School Of Inquiry and Life Science 419 McDowell St, Asheville, NC 28803	9-12	1.6 mi
Asheville High School 419 McDowell St, Asheville, NC 28803	9-12	1.7 mi
Ira B Jones Elementary School 544 Kimberly Ave, Asheville, NC 28804	K-5	2.3 mi
Vance Elementary School, Asheville, NC 98 Sulphur Springs Rd, Asheville, NC 28806	K-5	3.1 mi

Disclaimer: School ratings provided by GreatSchools. Ratings are on a scale of 1-10. Learn more about GreatSchools ratings. School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 11 N Market St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

4/15/2024

Price Reduced

$10,000,000

-17.8%

MLS

5/09/2023

Price Reduced

$12,165,000

-19.41%

MLS

4/14/2022

Listed

$15,095,475

—

MLS

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 11 N Market St

Year

Property Taxes

Change

Tax Assessment

Change

2023

$40,077

$3,979,100

—

2022

$39,680

—

$3,979,100

—

2021

$39,680

-10%

$3,979,100

-2%

2020

$43,978

—

$4,080,000

—

2019

$43,977

—

$4,079,900

—

2018

$43,977

-1%

$4,079,900

—

2017

$44,385

$4,079,900

16%

2015

$43,359

—

$3,528,000

-6%

2015

$43,359

$3,765,200

—

2014

$42,830

—

$3,765,200

—

2013

$42,830

—

$3,765,200

—

View All

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

Estimate the Cost for 11 N Market St

11 N Market Street, Asheville, NC 28801 (MLS# 3849830) is a Commercial property. 11 N Market Street is currently listed for $10,000,000 and was received on April 14, 2022. Want to learn more about 11 N Market Street? Do you have questions about finding other Commercial real estate for sale in Asheville? You can browse all Asheville real estate or contact a Coldwell Banker agent to request more information.

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11 N Market St Asheville, NC 28801