- For Sale $3,600,000
- Property Type Multi-Family
- Property Size 4,408 SF
- Units 4
- Lot Size 0.03 Acre
- Year Built 1930
- Date Updated Sep 24, 2026
Description
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.5 W 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.
Highlights
- An iconic commercial space with strong identity and long-standing recognition in the Asheville market
- Four premium residential units with established short-term rental potential
- 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
- Turnkey, income-producing mixed-use investment
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Contacts
Jay Lurie
Dewey Property Advisors
Location
Located at 5 West Walnut Street, Asheville, NC 28801, this property is part of the Downtown Asheville neighborhood and Asheville market.
Contact Listing Broker
Jay Lurie
Dewey Property Advisors
