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    11 N 5Th St Big Stone Gap, VA 24219

    Sponsored
    For Lease
    $259,900

    COMMERCIAL - Big Stone Gap, VA

    Property size:
    1,400 SF
    Lot size:
    0.30 Acres
    Days on Market:
    111
    Last Refresh:
    Jan 23 at 3:06 am

    Property Features for 11 N 5Th St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    001975
    Size
    1,400 SF
    Lot size
    0.30 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2017
    Building materials
    Brick, Concrete, Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Robert Smith

    Park Hill Realty Group LLC (423) 530-5224 [email protected]

    Listing agent Robert Smith (276) 870-7096 License #0225262208, 384142

    Listing date Oct 5, 2025

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Space in Big Stone Gap

    This commercial property, situated in the heart of Big Stone Gap, Virginia, presents a business opportunity suitable for a salon, doctor's office, cafe, or ice cream shop. The open floor concept includes two bathrooms and a functional drive-thru window, making it suitable for a restaurant. The 1400-square-foot space could be converted into a doctor's office. Located in a high-traffic area, the property benefits from ample parking and proximity to local events. A full crawlspace and attic provide access for plumbing and electrical needs. The property is equipped with one large heat pump and two smaller mini-splits. The lot size is 0.3 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Freda's Magic Mirror Beauty Salon Fringe Beauty Salon

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Big Stone Gap
    County
    Wise
    State
    Virginia
    Longitude
    -82.774459
    Latitude
    36.867901

    Nearby Similar for Lease

    • $400,000
      2,359 SF

      Restaurant Opportunity in Big Stone Gap

      Former Dairy Queen location with drive-thru in downtown Big Stone Gap.
      516 E 5Th St N, Big Stone Gap, VA 24219
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    • $350,000
      1,400 SF

      Commercial Property in Big Stone Gap

      Prominent corner lot suitable for retail or light industrial use.
      1809 E 2Nd Ave, Big Stone Gap, VA 24219
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    • Contact for pricing
      18,764 SF

      Big Stone Gap Retail Center

      Retail and office spaces available in Big Stone Gap, Virginia.
      1937-1957 Neeley Rd, Big Stone Gap, VA 24219
      View Details

    FAQs

    What type of property is this?
    Retail space - Versatile commercial space suitable for various businesses in Big Stone Gap.
    Where is this retail space located?
    The property is located at 11 N 5Th St Big Stone Gap, VA.
    What are key features of this property?
    This property features: - Prime location in the heart of Big Stone Gap with high traffic and event exposure.; - Versatile open floor plan suitable for various business types (salon, office, cafe, restaurant, etc.).; - Functional drive-thru window, ideal for restaurant use.
    (276) 870-7096
    Request Owner's contact information
    11 N 5Th St Big Stone Gap, VA 24219
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    Big Stone Gap, VA 24219
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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.

    More about this property
    11 N 5Th St Big Stone Gap, VA 24219
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    We can help!
    Listing Contact
    Robert Smith
    Real Estate License ID: 0225262208, 384142
    (276) 870-7096
    Learn more
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