Asheville, NC Homes for Sale between $3,000,000 to $5,000,000

Exceptional commercial development opportunity on Merrimon Avenue (US 25) featuring an assemblage totaling 1.66 acres with approximately 300 feet of road frontage. Lots are Zoned CBI and RS8, offering a versatile mix of commercial, residential and mixed-use development potential. The site includes five existing buildings with short term leases, providing immediate rental income. Positioned in the heart of a high-traffic, primary commuter corridor, and surrounded by national retailers including Trader Joe’s, Whole Foods, and Harris Teeter, this site ensures excellent visibility and strong consumer appeal. Signalized access to Merrimon Avenue via a 35+/- foot wide curb cut on Hillside Street, and multiple curb cuts on Merrimon Avenue provide ease of ingress/egress. Strategically located less than 1 mile from Downtown Asheville, I-240 and I-26, and just 3 miles from I-40, the property offers seamless connectivity across Asheville and beyond. This rare opportunity presents investors and developers with a phenomenal chance to activate an underdeveloped site on one of Asheville’s most sought-after thoroughfares.

210, 212 & 230 Merrimon Avenue, Asheville

Listing courtesy of Likewise Commercial Real Estate. jess@likewisecommercial.com

$3,450,000

5 Beds ⋅ 6 Baths ⋅ 4297019 MLS ⋅ ACTIVE Status

First time on the market, this mountain home designed by architect Mark Sinsky feels like a retreat in the forest of the Blue Ridge Mountains yet having the convenience of being only three blocks from the country club of Asheville and 3 miles from the heart of downtown Asheville. Upon entering the two story foyer, there is an artisan stacked stone masterpiece separating the formal living and dining room. With built-in shelving, a wooden ceiling, exposed beams and wood burning fireplace, this room begs you to enjoy your morning coffee on the oversized window seat while watching the dappled eastern light come pouring in. Vaulted ceilings are a trademark of this home and the family room is no exception. Family and friends can gather around the wood burning stove while keeping the chef company in the adjoining kitchen featuring top of the line appliances including Wolf induction cooktop, dual Thermador ovens, dual Miele dishwashers and a sub-zero refrigerator. The expansive primary suite is an oasis of tranquility.

52 Robinhood Road, Asheville

Listing courtesy of Howard Hanna Beverly-Hanks Asheville-Downtown. billbyrne@beverly-hanks.com

$4,950,000

8 Beds ⋅ 9 Baths ⋅ 4268471 MLS ⋅ ACTIVE Status

Spanning more than four acres of curated gardens, open meadows and fern-covered forest, this exceptional estate captures the beauty and tranquility of mountain living in a setting all its own. A stunning stone wall lines the property, creating a secluded oasis that feels worlds apart, yet downtown Asheville is just 15 minutes away. Within the grounds, a storybook conservatory and greenhouse, two charming guest cottages and an exquisite main residence come together to create a distinctive mountain retreat. Within the prestigious gates of The Ramble, the estate enjoys the privacy and security of a gated community while offering something exceptionally rare, such as no architectural or usage restrictions and no rental restrictions. Meticulously renovated in 2022, the main residence pairs timeless mountain architecture with thoughtful, elevated finishes. Soaring post-and-beam ceilings and dramatic floor-to-ceiling stone fireplaces define the interiors, while expansive windows frame the surrounding forest and gardens. The chef’s kitchen is designed for gathering and entertaining, featuring double islands and its gas fireplace. The stunning primary suite offers a retreat of its own, complete with a fireplace and private screened patio with a second fireplace overlooking the surrounding landscape. Five guest suites provide exceptional accommodations for family and guests, while more than 2,000 square feet of outdoor living space creates a seamless connection to the estate’s natural setting. From its remarkable grounds and multiple residences to its desired location, this is an exceptional Asheville estate offering privacy, flexibility and a setting that is difficult to replicate. Experience unparalleled serenity with this private estate.

268 Holly Arbor Lane, Asheville

Listing courtesy of Premier Sotheby’s International Realty. 828-777-6162

$3,425,000

4254182 MLS ⋅ ACTIVE Status

Ready to build & fully entitled for 110 units in growing Woodfin, NC. Mostly cleared & shovel ready 12.04+/- acre multi-family development parcel located only 10 mins. north of Downtown Asheville. Conveys with development plans for 110 residential town homes plus permits, site plans, architectural drawings, and public utility allocations. This is an immediate turn-key opportunity for developers. The town homes feature 2 & 3 bedroom floor plans and southwestern mountain views with the benefit of a community clubhouse & space for amenities. Only minutes to I-26, Walmart, Publix & Lowe’s, this site offers privacy and seclusion yet is close to shopping, dining, and all the life needs that make this area highly sought after. Nearby major employers include Thermo-Fisher Scientific, Mission Hospital & UNC Asheville. With an increasing demand for multi-family housing options in Asheville, this property presents a remarkable opportunity to meet the needs of a growing market.

300 Baird Cove Road, Asheville

Listing courtesy of Likewise Commercial Real Estate. carla@likewisecommercial.com

$4,400,000

4208298 MLS ⋅ ACTIVE Status

Welcome to 122 College Street—a rare opportunity to acquire a turnkey mixed-use asset directly on Pack Square with commercial income in place. No other properties can match the pairing of high-quality luxury residences with dependable commercial income—at a compelling basis of $387 per SF. All major capital improvements are complete. Offered fully furnished, the property is ready for immediate use or income generation. Upper floors feature two 2BR/2BA units and a 3BR/3.5BA luxury penthouse, all accessed via private entrance. Highlights include exposed brick, high ceilings, large windows with city and mountain views. The penthouse has 25’ ceilings, a 380 SF loft, and the only private rooftop terrace overlooking Pack Square Park, a truly spectacular amenity. Below the residences are two fully leased commercial spaces: a 3,000 SF street-level restaurant with a full commercial kitchen and a 3,000 SF lower-level bar, providing dependable income in one of Downtown Asheville’s most visible and active locations. Ownership options include holding as a turnkey mixed-use investment, occupying or leasing the residences, or pursuing a condominium conversion strategy with potential to resell individual units at pricing more consistent with Downtown Asheville’s luxury residential market. Currently offered at $4,600,000 | $387 per square foot.

122 College Street, Asheville

Listing courtesy of Whitney Commercial Real Estate. jharrison@whitneycre.com

$3,000,000

4185263 MLS ⋅ ACTIVE Status

Prime Hendersonville Road development opportunity. 215 feet of frontage just south of Long Shoals Road. Curently zoned RM6 for low density multifamily. Zoning would allow up to 107 units, parking requirements would bring that to 70, see attatched site plan. This property sees an average of 33500 cars pass by daily. Sewer is just across Hendersonville Rd and water, power, and natural gas are readily available. Engineered site plan for a 2 unit medical complex is available, reach out to listing agent for details. Seller is related to listing agent.

1945 Hendersonville Road, Asheville

Listing courtesy of Keller Williams Mtn Partners, LLC. brentcrowell@kw.com

$3,000,000

4185253 MLS ⋅ ACTIVE Status

Prime Hendersonville Road development opportunity. 215 feet of frontage just south of Long Shoals Road. Curently zoned RM6 for low density multifamily. Zoning would allow up to 107 units, parking requirements would bring that to 70, see attatched site plan. This property sees an average of 33500 cars pass by daily. Sewer is just across Hendersonville Rd and water, power, and natural gas are readily available. Engineered site plan for a 2 unit medical complex is available, reach out to listing agent for details. Seller is related to listing agent.

1945 Hendersonville Road, Asheville

Listing courtesy of Keller Williams Mtn Partners, LLC. brentcrowell@kw.com

$4,700,000

4168386 MLS ⋅ ACTIVE Status

Discover Crest Mountain, a rare chance to shape Asheville's luxury real estate landscape. This prestigious gated community, just minutes from downtown and the River Arts District offers an ideal blend of accessibility and mountain tranquility. Spanning 68 acres with 126 prime homesites, Crest Mountain features stunning mountain and city vistas with old-growth forests. Its development-ready infrastructure includes paved roads, fiber optic and city water/sewer services, enabling immediate project launch. Perfectly positioned to tap into Asheville's thriving real estate market and ever growing demand for luxury mountain homes. Seize this opportunity to revitalize Asheville's next iconic community.

62 Destination Drive, Asheville

Listing courtesy of Premier Sotheby’s International Realty. 305-778-9559

$3,500,000

4162655 MLS ⋅ ACTIVE Status

Excellent rare opportunity to purchase over an acre in Downtown Asheville. The property is in the Central Business District and also within the Hotel Overlay District. Just a few blocks from the Asheville Civic Center (Harrah's Cherokee); plus very near to I-240 with an approx. 85,000 daily traffic count. Property has long range mountain views. Two story building (10,600 sqft) currently used as Asheville Elks Lodge. Buyer is responsible for verifying current city zoning and development ordinances.

232 Haywood Street, Asheville

Listing courtesy of Howard Hanna Beverly-Hanks Asheville-Downtown. rick.tisdale@allentate.com

$3,800,000

4049531 MLS ⋅ ACTIVE UNDER CONTRACT Status

This gorgeous raw land has excellent development potential. Comprising 21 acres more or less (see attached survey) and sharing a boundary line with the new Mission Hospital site in West Asheville just off Patton Ave. Featuring long range mountain views and a lovely creek running through it. Suitable for multifamily buildings. 12 units per acre. Additional 12 acres available from neighboring owners MLS# 4313794 (see photos). A portion of the property is in a floodplain.

9999 Holbrook Road, Asheville

Listing courtesy of Pinnacle Lifestyle Realty LLC. matt@ncpinnacle.com

$3,800,000

4048313 MLS ⋅ ACTIVE UNDER CONTRACT Status

This gorgeous raw land has excellent development potential. Comprising 21 acres more or less (see attached survey) and sharing a boundary line with the new Mission Hospital site in West Asheville just off Patton Ave. Featuring long range mountain views and a lovely creek running through it. Suitable for multifamily buildings. 12 units per acre. Additional 12 acres available from neighboring owners MLS# 4313794 (see photos). A portion of the property is in a floodplain.

9999 Holbrook Road, Asheville

Listing courtesy of Pinnacle Lifestyle Realty LLC. matt@ncpinnacle.com

Asheville, NC Homes for Sale between $3,000,000 to $5,000,000

Asheville, NC Homes for Sale Between $3,000,000 to $5,000,000

Lee Rosenthal

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