28 N Lexington Avenue Asheville, NC $ 1,500,000
28 N Lexington Avenue
$ 1,500,000
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28 N Lexington Avenue

Asheville, NC, 28801
$ 1,500,000
Bedrooms-- Baths2.0 Sq 3,400

Monthly Estimate*

$ 10,360

28 N Lexington Avenue, Asheville, NC 28801 - Image 1
28 N Lexington Avenue, Asheville, NC 28801 - Image 2
28 N Lexington Avenue, Asheville, NC 28801 - Image 3
28 N Lexington Avenue, Asheville, NC 28801 - Image 4
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28 N Lexington Avenue, Asheville, NC 28801 - Image 8
28 N Lexington Avenue, Asheville, NC 28801 - Image 9

Commercial Property for sale in Asheville, NC

for $1,500,000 with 2 full baths. This 3,400 square foot building was built in 1916 on a lot size of 0.05.

Boutique Downtown Residential & Retail Duo combining street-level retail with upper-floor residential unit on Lexington Avenue and Tingle Alley. Positioned in the heart of downtown Asheville’s vibrant Lexington Avenue district, 28 N. Lexington Avenue and 7 Tingle Alley present a rare opportunity to own a true live/work property in one of the city’s most dynamic corridors. Ideal for owner-operators, the property offers the ability to live just above your business— creating a seamless lifestyle rooted in the energy of downtown—while also providing the flexibility to generate income from either level. Whether you choose to occupy the upper residence or lease it, the layout supports both personal use and long-term investment. The street-level retail space is fully leased, delivering immediate, stable income, while the character-rich residential unit above presents additional revenue potential or a unique opportunity for an owner to establish a presence directly within their business footprint. Surrounded by Asheville’s most active dining, arts, and retail destinations, the property benefits from consistent foot traffic and strong local demand—positioning it as both a lifestyle asset and a smart income-producing investment

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Commercial Active

Price

$ 1,500,000

Full Bath

2

Property Type

Commercial

Taxes

$ 0

Style

Retail

Lot Size

0.05

Year Built

1916

Town/City

Asheville

County/Region

Buncombe

MLS | Web ID

4408214

Features
General
Sewer Public Sewer
Development Status Completed
Zoning CBD
Year Built 1916
Stories Count 2
Property Subtype Retail
Parcel Number 9649-40-0770-00000
Gross Income 60000
County Buncombe
Net Operating Income 80233
Operating Expense 15767
New Construction N
Property Type Commercial Sale
HOA Y
Directions 28 N Lexington Ave is located downtown Asheville between College St and Walnut St. directly across from Tops for Shoes and Anthropologie.
City Asheville
Senior Community Y/N N
Lot Size Units Acres
Carport Y/N N
Number of Units Leased 2
Additional Parcels Y/N N
Lease Considered Y/N N
Standard Status Active
Construction Type Site Built
Restrictions Historical
Tax Assessed Value 621000
Listing Terms Cash Conventional
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Exterior
Water Source City
Inclusions Business Land
Lot Size Area 0.05
Number of Buildings 1
Building Area Total 3400
Road Surface Type Paved
Road Responsibility Publicly Maintained Road
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Interior
Basement (Y/N) N
Below Grade Finished Area 0
Total Baths 2
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Internal Only
Street Number 1 28
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* Excluded Features
List By
Dewey Property Advisors

Broker

Affordability Calculator

$10,360
Per Month
100%
0%
0%
Monthly Principal & Interest
$10,360
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
294628 Elementary School
294724 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/27/2026$1,500,000 Listed Price

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28 N Lexington Avenue, Asheville, NC, 28801 is a Commercial Property for sale at $1,500,000 with 3,400 sqft and a lot size of 0.05. 28 N Lexington Avenue has 2.0 baths and was built in 1916. The property's zip code is 28801 which is in Asheville, NC