Retail at 114 N Lexington Avenue, Asheville
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48 photos

$2,600,000

114 N Lexington Avenue
Asheville, NC 28801
Listed by Abigail Farrow · Likewise Commercial Real Estate
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1926

About this home

The historic & well-maintained Meadows Building is listed on the National Register of Historic Places. This property offers unparalleled exposure amidst the vibrant cityscape of Downtown Asheville. Well-positioned at the signalized intersection off I-240, this property offers interstate visibility and road frontage from 2 major city streets with high VPD. 7,042 SF with 3 floors of usable space. Layout is conducive to redevelopment or alternate uses, providing value-add income potential. Lower level includes a retail area and commercial kitchen infrastructure with dumbwaiter accessing all floors. Platform passenger lift services upper two levels. Wood flooring, high ceilings, natural light, and both east and west facing views of mountains and the cityscape. Building went through a full scale renovation in 2008. Recent upgrades include a new roof in 2021 and new windows in 2023. Paid parking (82 spots) directly across the street with additional street metered parking.

Property details

MLS
Canopy MLS
MLS #
CAR4249365
Property type
Retail
Subdivision
N/A
Status
Active
Days on market
312
On market date
April 24, 2025
Stories
3
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
N/A
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Claxton Elementary
0.63 mi away · Grades 0-5
Nearest school -- attendance-zone data not available here
3.3
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: C (2025)
Enrollment
390
Student:teacher ratio
13.4:1
District
Asheville City Schools
Middle
Asheville Middle
0.9 mi away · Grades 6-8
Zoned school (attendance boundary, 2015-16 data)
3.6
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: C (2025)
Enrollment
623
Student:teacher ratio
11.5:1
District
Asheville City Schools
High
Asheville High
1.78 mi away · Grades 9-12
Zoned school (attendance boundary, 2015-16 data)
4.0
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: B (2025)
Enrollment
1,135
Student:teacher ratio
13.2:1
District
Asheville City Schools

Walkability

Blended score for Asheville's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

99
Highly walkable
out of 100
EPA National Walkability Index
19.5 / 20 -- Most walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores13
Parks20
Schools19
Transit stops20
Pharmacies6

Market position

How this listing compares to current activity in Asheville, from live MLS data.

On the market 312 days -- 191 more days than Asheville's current average of 121 days.
For reference, the median list price across 1,596 active listings in Asheville right now is $489,900.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$15,808/mo
$520,000 down
$2,080,000 loan
Principal & interest$13,491
Property tax (est.)$2,167
Home insurance (est.)$150

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Data source: Listing information provided by Canopy MLS (carolina) via Trestle/CoreLogic. Last updated March 7, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.