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    116 Clearfork Rd Tazewell, VA 24651

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    Claim this Listing
    New
    For Sale
    $186,000

    Commercial - Tazewell, VA

    Property size:
    1,500 SF
    Lot size:
    0.27 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 15 at 10:06 pm

    Property Features for 116 Clearfork Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    Size
    1,500 SF
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Year built
    1980
    Year renovated
    1980
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Linford Berry

    Listing agent Linford Berry

    Listing office Mountain Valley Auction Group LLC 350 Bowman Road, Dayton, VA

    Listing date Apr 15, 2026

    MLS# 11692101 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Tazewell Convenience Store Auction Opportunity

    An online-only auction is scheduled for a convenience store located at 116 Clearfork Rd, Tazewell VA 24651. Bidding will commence at $100,000 and will conclude at 1 PM ET on May 7, 2026. The property, situated on approximately 0.27 acres, features a 1,500 sq ft commercial building constructed in 1980, previously operated as a convenience store. Located at the intersection of Clearfork Rd and Burkes Garden Rd in Gratton, VA, it is 6 miles east of Tazewell. This presents an opportunity for redevelopment or re-establishment of a retail store to serve Tazewell County residents. The nearest convenience store is 5 miles away in Tazewell, with the next closest being 20 miles away in Rocky Gap VA. While the fuel pumps are not operational, the underground fiberglass tanks and lines are in good condition, with a recent investment of over $18,000 in a new cathodic protection system. The 1,500 sq ft building, built in 1980, could benefit from cosmetic updates and includes a 1,500 sq ft unfinished basement. The property is served by county water, and the traffic count is approximately 3,000 vehicles per day.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Auto Repair Shop Electrical Service Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tazewell
    County
    Tazewell
    State
    Virginia
    Longitude
    -81.413217
    Latitude
    37.13455

    FAQs

    What type of property is this?
    Grocery and convenience store - Convenience store in Tazewell County, offered at online auction.
    Where is this grocery and convenience store located?
    The property is located at 116 Clearfork Rd Tazewell, VA.
    What is the asking price?
    The asking price for this property is $186,000.
    What are key features of this property?
    This property features: Excellent opportunity to re‑establish a retail store or redevelop the property in Tazewell County, VA.; Located in Gratton, VA, with limited nearby competition.; Property includes a **1,500 sq ft commercial building with a 1,500 sq ft unfinished basement.**
    (540) 476-3309
    We can help!
    Listing Contact
    Linford Berry
    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.

    More about this property
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