114 W Jackson Street Gate City, VA 24251

This landmark property, a 24,000+ sq. ft. building, is one of the largest and most prominent structures in historic Gate City. Spanning three levels, this property offers potential for commercial, residential, or mixed-use ventures. The main and lower levels feature entertainment and hospitality spaces, including a fully equipped restaurant and bar, a concert stage and dance floor, a lounge area, vendor booths, and a model race car track with its own refreshment bar. The building has new electric power, plumbing, a new sewer line, new air conditioning, facade restoration, new windows in the rear and recently replaced front windows, and seven new bathrooms. The turnkey restaurant has a liquor license covering 6,000 square feet. Restorations were completed within the last 2 years. There is a 2200 sq ft owners apartment with three bedrooms and two baths. All restaurant equipment is 1 year old, and there is instant hot water for the entire building with an electric backup tank. The owner is willing to sell a partial ownership with the idea of converting the top two floors to a boutique hotel or Airbnb. Part of the second floor is unfinished and ready for office space or additional apartments. Newly installed large windows offer views of the surrounding mountains and the Gate City gap. Updates include new electrical wiring, recessed lighting, and a new heat pump system. The property sits on a 0.34 acre lot. The building provides the space and location for a mixed-use destination, a boutique entertainment venue, or loft residences.