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    Three-Level Downtown Commercial Building Title is generated by Realmo AI

    105 E Grayson St, Galax, VA 24333

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    For Sale
    $350,000

    COMMERCIAL - Galax, VA

    Property size:
    7,060 SF
    Price / SF:
    $49/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 105 E Grayson St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    commercial
    Parking
    1
    Standard status
    Active
    Size
    7,060 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1772

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Central
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1941
    Floors in Building
    2
    Flooring type
    Wood, Vinyl, Carpet
    Building materials
    Brick, Masonry
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Dedra Lineberry
    Dedra Lineberry

    Listing agent Dedra Lineberry License #0225196694

    Listing office Cox Realty 1110 E Stuart Drive, Galax, VA

    Listing date Jun 4, 2026

    MLS# 104115

    Copyright © 2026 Southwest Virginia Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approx. 7,110 total SF commercial property in Historic Downtown Galax
    • Layout includes 2,370 SF on each of three levels, with 4,720 SF finished space
    • 1941 construction with brick/masonry exterior
    • Finished upper level office space; flexible floor plan for potential two‑bedroom apartment conversion
    • Main level features high ceilings
    • Utilities/services: public water and public sewer; cable available; heat pump (heating) with central cooling; roof is rolled hot mop

    Overview

    This three-level commercial property contains approximately 7,110 total square feet, with roughly 2,370 square feet on each level. Approximately 4,720 square feet of finished space is currently in place. The main level is described as featuring high ceilings and stylish finishes, suited to professional offices or retail use. The upper level offers finished office space with natural light and flexible floor plans.

    Located in historic downtown Galax, the property is positioned for storefront and pedestrian activity. Public remarks note excellent visibility and pedestrian traffic near the historic Rex Theatre and Galax City Offices, with curb appeal intended to support both retail and service tenants.

    For tenants or buyers, the layout supports a variety of occupancy strategies depending on desired use. The main floor high-ceiling space can serve as a storefront or professional front, while the upper level’s finished office area can accommodate office operations or flexible workspace. Public remarks also note the upper level could potentially be transformed into two two-bedroom apartments, subject to applicable requirements. Additionally, the listing states that historical renovation grant money could be available, and the seller is described as motivated.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Personal Touch Florist — 119 W Grayson St, Galax, VA 24333
    • Galax Florist — 122 W Grayson St, Galax, VA 24333
    • Pretty Petals Floral Design — 110 W Oldtown St, Galax, VA 24333

    Location Insight

    • Map
    • Local Demand
    City
    Galax
    County
    Galax
    State
    Virginia
    Longitude
    -80.9249644
    Latitude
    36.6617132

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    FAQs

    What type of property is this?
    Storefront property - Three levels with high-ceiling main space and finished upper office area, near downtown civic and entertainment uses.
    Where is this storefront property located?
    The property is located at 105 E Grayson St Galax, VA.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Approx. 7,110 total SF commercial property in Historic Downtown Galax; Layout includes 2,370 SF on each of three levels, with 4,720 SF finished space; 1941 construction with brick/masonry exterior
    (276) 233-6825
    We can help!
    Listing Contact
    Dedra Lineberry
    Dedra Lineberry
    Real Estate License ID: 0225196694
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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