Exceptional Live/Work Opportunity with Built-In Value Add in Highway Business Zoning. Some properties simply exist and then there are the ones that feel like they’re already humming with possibility the moment you pull in. This South Asheville gem is the latter: a rare blend of flexibility, function, and future potential that invites you to imagine not just how you’ll live here, but how you’ll grow here. Zoned Highway Business (HB), it’s a truly versatile find for business owners, investors, or anyone seeking a dynamic live/work lifestyle. With multiple entrances, two separate parking areas, and a thoughtfully segmented layout, it’s built for dual use without compromising comfort. You’re greeted by fresh paint and new double-pane vinyl windows, offering both efficiency and a crisp, updated feel. The kitchen, refreshed within the past decade, features modern cabinetry, generous storage, and an intuitive flow into the main living and dining spaces. Warm, bright, and welcoming in that quietly confident way. Just beyond, an unexpected twist in the floorplan reveals a private wing with its own exterior access. A home office tucked away for focus, a workspace, an art studio where ideas take shape, or a mini suite for a small business seeking visibility and convenience. Here, the line between home and work doesn’t blur, it becomes beautifully intentional. Downstairs, the unfinished walkout basement, already plumbed for a full bathroom, offers the kind of value-add that savvy buyers dream about. Imagine expanding your living space, creating a rental unit, or building out a dedicated business zone with easy access. It’s potential in its purest form. Whether you picture a boutique office that draws in passerby, a creative studio bathed in natural light, or an income-producing setup that supports your long-term goals, this property stands ready. With modern updates, a highly functional layout, and rare commercial zoning, it offers more than a place to land, it offers a canvas for your next chapter.
Single-familyProperty Type
1962Year Built
4,965 sq ftLot Size
$338Est. Price/Sq.Ft.
Listed by Alexandra Schrank• RE/MAX Executive
Contact: brokeralexandra@gmail.com
Bought with Sharon Sweeney• Walnut Cove Realty/Allen Tate/Beverly-Hanks
Business. Dated 3-1 ranch, currently month-to-month leased for $935 per month. Full, unfinished walkout basement with additional driveway to rear yard. Tenant occupied. Call listing agent with advanced notice for appointment to show - must wait for confirmation from tenant before showings allowed. See attachments for Highway Business zoning rules, access Municode online for list of HB allowed uses.
Public Records
Aug 26, 2002
Sold
$93,000
$85/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,918 (+6.7%)
$53,200 + $139,400
$192,600
2024
$1,797 (+3.6%)
$53,200 + $139,400
$192,600
2023
$1,735 (+1.1%)
$53,200 + $139,400
$192,600
2022
$1,716
$53,200 + $139,400
$192,600
2021
$1,716 (+17.1%)
$53,200 + $139,400
$192,600
2020
$1,466
$53,200 + $139,400
$192,600
2019
$1,466
$32,800 + $120,200
$153,000
2018
$1,466 (−1.0%)
$32,800 + $120,200
$153,000
2017
$1,481 (+8.2%)
$32,800 + $120,200
$153,000
2016
$1,369 (+3.8%)
$32,800 + $120,200
$153,000
2015
$1,319 (+1.4%)
$32,800 + $94,100
$126,900
2014
$1,301
$32,800 + $89,500
$122,300
Tax history for 720 Reed St
Year
Property tax
Land + Additions
Assessment*
2025
$1,918 (+6.7%)
$53,200 + $139,400
$192,600
2024
$1,797 (+3.6%)
$53,200 + $139,400
$192,600
2023
$1,735 (+1.1%)
$53,200 + $139,400
$192,600
2022
$1,716
$53,200 + $139,400
$192,600
2021
$1,716 (+17.1%)
$53,200 + $139,400
$192,600
2020
$1,466
$53,200 + $139,400
$192,600
2019
$1,466
$32,800 + $120,200
$153,000
2018
$1,466 (−1.0%)
$32,800 + $120,200
$153,000
2017
$1,481 (+8.2%)
$32,800 + $120,200
$153,000
2016
$1,369 (+3.8%)
$32,800 + $120,200
$153,000
2015
$1,319 (+1.4%)
$32,800 + $94,100
$126,900
2014
$1,301
$32,800 + $89,500
$122,300
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
3
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
0.26 Acres
Year renovated
1962
Sq. Ft.
924
Year built
1962
Style
Single Family Residential
County
Buncombe County
APN
964784418000000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 10, 2026.
HB
RESOURCE MANAGEMENT OVERLAY
Highway Business District
The Highway Business District is established to address the needs of commercial development along major thoroughfares. Automobile oriented development is prevalent within this district and a wide range of commercial uses is permitted. Due to the dominance of the automobile, a major objective within this district is to preserve the traffic capacity of the thoroughfare. This is attempted through minimizing the number of access points onto the thoroughfare, encouraging zero-lot line development, and promoting shared parking and access between adjacent businesses. Development which enhances the function of the thoroughfare and is sensitive to the appearance of the corridor is essential within this district. These major corridors are the gateways to Asheville and often define the first image of the city.
Zone overlays
Resource Management Overlay
Permitted uses
Include but are not limited to:
Gas station
General retail
Restaurant
Housing-Single unit
Housing-Multiple units
Housing-Senior
Self-Storage / mini-Storage
Mixed use
Office
Medical office
Property details
Parking
Parking Information
Main Level Garage Y/N: 0
Parking Features: Driveway, On Street, Parking Space(s)
Interior
Bedroom Information
# of Bedrooms: Main: 3
# of Bedrooms: 3
Bathroom Information
# of Full Baths: Main: 1
# of Full Baths (Total): 1
Room 1 Information
Room Level: Main
Laundry Room Information
Laundry Features: In Basement, Lower Level, Washer Hookup