173 E Chestnut Street, Asheville, NC 28801 - Photo 1

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$4,500,000 Just Listed

For Sale
Active
Commercial
4,439 Sq. Ft.
Updated 5 hours ago

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Property Description

Exceptional opportunity just a few blocks outside of the heart of downtown Asheville on highly sought-after East Chestnut Street. This 4,500± square foot property, originally built in 1889, is currently operating as a bed and breakfast and offers both immediate income potential and outstanding long-term versatility. Zoned Office (B&B use is grandfathered), the building provides flexible interior space ideal for continued hospitality use, boutique inn, professional office conversion, gallery, or creative workspace. In close proximity to top-tier restaurants, retail, hotels, and entertainment venues, this prime location delivers exceptional walkability, visibility, and year-round demand. Perfect for an owner-operator, investor, or future repositioning, this rare downtown asset combines historic character with modern income potential. Easy access to parking, public transit, and major thoroughfares further enhances value. A truly unique opportunity to own a revenue-generating property in one of Asheville's most desirable downtown corridors.

Full Property Details

Full Property Details for 173 E Chestnut St

General

Price: $4,500,000
Status: Active
Type: Commercial
Source: Charlotte_Regional_Realtor_Association
MLS ID: 4303292
Updated: Today (2/23/2026)
Added to Site: Today

Interior

Flooring: Wood

Rooms

Bathrooms

Total Bathrooms: 7

Location

County: Buncombe
City Limits: Yes

Utilities

Sewer: Public Sewer
Water: Public
Utility Description: Electricity Connected

Structural Information

Construction: Site Built
Exterior Const.: Wood
Basement: Yes
Basement Desc.: Unfinished
Roof: Composition
Square Feet: 4,439
Minimum Avail: 4,439 Sq. Ft.
Year Built: 1889

Lot Features

Street/Road Desc.: Paved

Financial Considerations

Terms: Cash, Conventional

Disclosures and Reports

Restrictions: No Representation
Inclusions: Building, Fixtures, Land
Property ID: 9649-43-9135-00000
Plat: 227-158
Lot Number: 6229-732

Listed by The Real Estate Center

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Schools

Schools serving 173 E Chestnut St

School District:Asheville City Schools

Name	Grades	Distance
Claxton Elementary 241 Merrimon Avenue, Asheville, NC 28801	K-5	0.4 mi
Isaac Dickson Elementary 125 Hillside Street, Asheville, NC 28801	K-5	0.5 mi
Ira B Jones Elementary 544 Kimberly Avenue, Asheville, NC 28804	K-5	1.8 mi
Asheville Middle 211 South French Broad Avenue, Asheville, NC 28801	6-8	1.3 mi
School Of Inquiry And Life Science 419 McDowell Street, Asheville, NC 28803	9-12	2.1 mi
Asheville High 419 McDowell Street, Asheville, NC 28803	9-12	2.1 mi
Hall Fletcher Elementary 60 Ridgelawn Road, Asheville, NC 28806	K-5	2.4 mi
Vance Elementary, Asheville, NC 98 Sulphur Springs Road, Asheville, NC 28806	K-5	3.4 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 173 E Chestnut St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

2/23/2026

Listed

$4,500,000

85.57%

MLS

6/13/2022

Sold

$2,425,000

—

Public Record

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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 173 E Chestnut St

Year

Property Taxes

Change

Tax Assessment

Change

2025

$30,581

$2,783,900

—

2024

$28,760

19%

$2,783,900

16%

2023

$24,205

$2,403,200

—

2022

$23,965

—

$2,403,200

—

2021

$23,965

-2%

$2,403,200

2020

$24,478

—

$2,270,900

—

2019

$24,478

—

$2,270,900

—

2018

$24,478

-1%

$2,270,900

—

2017

$24,705

41%

$2,270,900

60%

2015

$17,494

$1,423,400

—

2014

$17,280

—

$1,423,400

—

2013

$17,280

—

$1,423,400

—

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.

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173 E Chestnut Street, Asheville, NC 28801 (MLS# 4303292) is a Commercial property. 173 E Chestnut Street is currently listed for $4,500,000 and was received on February 23, 2026. Want to learn more about 173 E Chestnut 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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173 E Chestnut St Asheville, NC 28801