Rare investor opportunity centered around potential commercial frontage on Long Shoals Road. This nearly 1-acre property offers excellent visibility along a high-traffic corridor, while the existing income-producing home sits privately toward the rear of the lot with separate driveway access from Memory Lane.
Currently zoned R2, the property features a 4-bedroom, 3-bath bungalow with strong rental history, mountain views, private deck, lower-level theatre room, second primary suite with separate entry, 1-car garage, and roof replaced in 2014. The home can continue generating income while a buyer explores the long-term value of the Long Shoals Road frontage.
City sewer is believed to be very close by near the corner of Memory Lane and Clayton Road, creating potential upside for a buyer willing to pursue sewer connection, subdivision, or possible commercial rezoning, all subject to applicable approvals. The property also benefits from strong sight lines near the Clayton Road intersection and visually reads like a corner lot because the lot at the intersection in front of it is not buildable.
Hold the rental home, pursue the frontage opportunity, and unlock the future potential of this highly visible Long Shoals Road parcel.
Owner also owns the property next door at 506 Long Shoals, if interested in more frontage potential, please reach out.
Active
$995,000
502 Long Shoals Rd, Arden, NC 28704
4beds
1,956sqft
Single Family Residence
Built in 1966
0.95 Acres Lot
$957,500 Zestimate®
$509/sqft
$-- HOA
What's special
Mountain viewsPrivate deckLower-level theatre room
- 50 days |
- 147 |
- 2 |
Zillow last checked:
Listing updated:
Listed by:
Matt Payne matt@walnutcoverealty.com,
Walnut Cove Realty/Allen Tate/Beverly-Hanks
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4372104
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
- Main level bedrooms: 3
Primary bedroom
- Level: Main
Heating
- Heat Pump
Cooling
- Attic Fan
Appliances
- Included: Convection Oven, Dishwasher, Disposal, Dryer, Electric Oven, Electric Range, Electric Water Heater, Microwave
- Laundry: Electric Dryer Hookup
Features
- Basement: Basement Garage Door,Finished,Interior Entry
Interior area
- Total structure area: 1,226
- Total interior livable area: 1,956 sqft
- Finished area above ground: 1,226
- Finished area below ground: 730
Property
Parking
- Total spaces: 1
- Parking features: Driveway, Attached Garage
- Attached garage spaces: 1
- Has uncovered spaces: Yes
Features
- Levels: Two
- Stories: 2
- Waterfront features: None
Lot
- Size: 0.95 Acres
Details
- Parcel number: 9634883498
- Zoning: R2
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Block, Hardboard Siding, Stone Veneer
Condition
- New construction: No
- Year built: 1966
Utilities & green energy
- Sewer: Private Sewer
- Water: City
Community & HOA
Community
- Subdivision: None
Location
- Region: Arden
- Elevation: 2000 Feet
Financial & listing details
- Price per square foot: $509/sqft
- Tax assessed value: $263,100
- Annual tax amount: $1,696
- Date on market: 4/20/2026
- Cumulative days on market: 50 days
- Road surface type: Asphalt, Paved
Estimated market value
$957,500
$910,000 - $1.01M
$3,250/mo
Price history
| Date | Event | Price |
|---|---|---|
| 4/22/2026 | Listing removed | $3,295$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/20/2026 | Listed for sale | $995,000+563.3%$509/sqft |
Source: | ||
| 4/1/2026 | Price change | $3,295+6.3%$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/31/2026 | Listed for rent | $3,100$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/22/2026 | Listing removed | $3,100$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/23/2026 | Listed for rent | $3,100$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/15/2026 | Listing removed | $3,100$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 1/16/2026 | Listed for rent | $3,100$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/18/2016 | Sold | $150,000$77/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,696 +4.7% | $263,100 |
| 2024 | $1,620 +3.3% | $263,100 |
| 2023 | $1,568 +1.7% | $263,100 |
| 2022 | $1,542 | $263,100 |
| 2021 | $1,542 +31.6% | $263,100 +41.5% |
| 2020 | $1,171 | $185,900 |
| 2019 | $1,171 | $185,900 |
| 2018 | $1,171 | $185,900 +28.9% |
| 2017 | $1,171 +16.9% | $144,200 |
| 2016 | $1,002 | $144,200 |
| 2015 | -- | $144,200 |
| 2014 | $1,002 | $144,200 |
| 2013 | -- | $144,200 -5.6% |
| 2012 | -- | $152,800 |
| 2011 | -- | $152,800 |
| 2010 | -- | $152,800 |
| 2009 | -- | $152,800 |
| 2007 | -- | $152,800 |
| 2006 | -- | $152,800 +36.6% |
| 2005 | -- | $111,900 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 28704
Nearby schools
GreatSchools rating
- 8/10Avery's Creek ElementaryGrades: PK-4Distance: 0.7 mi
- 9/10Valley Springs MiddleGrades: 5-8Distance: 1.5 mi
- 7/10T C Roberson HighGrades: PK,9-12Distance: 1.8 mi
Schools provided by the listing agent
- Elementary: Avery's Creek/Koontz
- Middle: Valley Springs
- High: T.C. Roberson
Source: Canopy MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- North Carolina
- Buncombe County
- Arden
- 28704
- 502 Long Shoals Rd






