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    The Largest CRE Database in the US with Over 1 Million Listings

    132 W Jackson St Gate City, VA 24251

    Sponsored
    For Sale
    Pending
    $299,900

    COMMERCIAL - Gate City, VA

    Property size:
    7,600 SF
    Lot size:
    0.21 Acres
    Days on Market:
    25
    Last Refresh:
    Jan 25 at 11:06 pm

    Property Features for 132 W Jackson St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    Commercial
    APN
    146a7 A 221
    Fireplace
    1
    Size
    7,600 SF
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Fireplace(s), Baseboard, Heat Pump (Heating)
    Cooling system
    Window Unit(s), Ceiling Fan(s), Heat Pump
    Water source
    Public

    Building Details

    Year built
    1906
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Shana Wilcox

    Centruy 21 Pro Service (423) 282-1885

    Listing agent Shana Wilcox (423) 330-2174 License #292458

    Listing date Jan 1, 2026

    MLS# 9988484

    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

    Mixed-Use Investment Opportunity

    This mixed-use investment package is located in the heart of historic downtown Gate City. The property offers multiple income streams and value-add potential. It features excellent visibility and is located just steps from the courthouse. The property includes two buildings, 132 and 138 W Jackson Street. 132 features a fully finished and immediately leasable storefront on the main level, suitable for retail, office, or professional services. The upper level has been completely gutted and is ready for renovation, offering flexibility to create an additional apartment, expanded commercial space, studio, or storage area. This level also includes private rear access to a backyard and rear parking area. 138 offers even more opportunity with a gutted main-level storefront showcasing exposed brick and tall ceilings, ready for a custom commercial build-out. The second floor includes two finished apartments—one two-bedroom, one-bath unit and one one-bedroom, one-bath unit—both of which are income-producing and have private rear access to the backyard and parking area. The property has three potential or existing residential units, two commercial storefronts, multiple private entrances, and room for redevelopment and expansion. The lot size is 0.21 acres and the property size is 7600 square feet. This package provides immediate revenue with significant long-term upside. The zoning is commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gate City
    County
    Scott
    State
    Virginia
    Longitude
    -82.595133
    Latitude
    36.63564

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with income potential in historic downtown Gate City.
    Where is this mixed-use property located?
    The property is located at 132 W Jackson St Gate City, VA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Mixed-use investment package with multiple income streams and value-add potential in historic downtown Gate City.; - Two commercial storefronts (one finished, one ready for build-out) offering excellent visibility near the courthouse.; - Two existing income-producing apartments plus potential for a third unit or expanded commercial space.
    (423) 330-2174
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    132 W Jackson St Gate City, VA 24251
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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
    132 W Jackson St Gate City, VA 24251
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    We can help!
    Listing Contact
    Shana Wilcox
    Real Estate License ID: 292458
    (423) 330-2174
    Learn more
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