New Listing5 Walnut Street offers a mixed-use investment opportunity in the heart of downtown Asheville. The property is currently home to 5 Walnut Wine Bar and also includes four vacant residential units. The residential units are approved for short-term rental (STR) use but are not currently being used as short-term rentals. The property also includes a leased retail space that is currently producing income, offering a mix of residential and commercial uses in a desirable downtown location. Prime Downtown Asheville location on West Walnut Street, surrounded by established restaurants, retail, and entertainment. Highly walkable with convenient access to the heart of downtown. Highlights: Turnkey, income-producing mixed-use investment, four premium residential units with established short-term rental potential, an iconic commercial space with strong identity and long-standing recognition in the Asheville market. opportunity to realize additional value through a mixed-use condominium structure or separate future disposition of the residential and commercial components, the rarity of acquiring a fully stabilized, downtown Asheville asset with both immediate income and multiple long-term value creation strategies.
| MLS # | 4437141 |
|---|---|
| Listing Type | For Sale |
| Style | Business |
| Sub-Type | Resale |
| Status | Active |
| Year | 1930 |
| Days On Site | 3 |
| Listing Provided By | Dewey Property Advisors | Jay Lurie |
| Story(s) | 4 |
|---|---|
| Acreage | 0.03 |
| List Aor | Charlotte Region Commercial Board of Realtors |
|---|
| Property | 1457900 |
|---|
| State | NC |
|---|---|
| County | Buncombe |
| City | Asheville |
| Zip Code | 28801 |
| Area | Buncombe |
| Listing VS Median (in 28801) | |
Price: $3,600,000 low | high Med: $749,900 On site: 3 low | high Med: 175 | |
| State | NC |
|---|---|
| County | Buncombe |
| City | Asheville |
| Zip Code | 28801 |
| Area | Buncombe |
| Listing VS Median (in 28801) | |
Price: $3,600,000 low | high Med: $749,900 On site: 3 low | high Med: 175 | |
![]() | $3,250,00023 Rankin Avenue 302Asheville, NC 28801 |