Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    201 S Main St Gretna, VA 24557

    View on Map
    Sponsored
    For Sale
    $425,000

    MULTI_FAMILY - Gretna, VA

    Property size:
    10,004 SF
    Lot size:
    0.26 Acres
    Days on Market:
    31
    Last Refresh:
    Mar 15 at 3:06 pm

    Property Features for 201 S Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 5, Bathroom 6, Bathroom 4
    APN
    2530-16-3949
    Parking features
    On Street
    Size
    10,004 SF
    Lot size
    0.26 Acres

    Utilities

    Heating system
    Heat Pump (Heating), Oil
    Cooling system
    Heat Pump, Electric, Central Air

    Building Details

    Year built
    2004
    Number of units
    8

    We can help!

    Listing Contact
    Robert E Dawson
    Robert E Dawson

    Dawson Ford Garbee & Co (434) 455-4777

    Listing agent Robert E Dawson

    Listing date Feb 12, 2026

    MLS# 362917

    Copyright © 2026 Lynchburg Virginia MLS. 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, Gretna, VA

    This two-story mixed-use property in Gretna, VA, presents an investment opportunity, featuring a retail space on the ground level and seven residential units on the second floor. The residential component includes six efficiency apartments and one 1-bedroom unit. Each unit is equipped with ranges, refrigerators, and insulated windows. Tenants benefit from central air and heat, provided by separate heat pumps. The main-level retail space is currently vacant but offers a lease potential of $1,500.00 to $2,500.00 per month. The retail space has oil heat and central air. The owner covers insurance, electricity for common areas, exterior maintenance, water/sewer, and property taxes. The property is situated on a 0.26-acre lot. The building has a total area of 10004 square feet. Showings for one apartment unit and the street-level retail space can be scheduled prior to contract signing. The remaining six residential units will be shown post-contract, with buyer approval required at the time of any inspections. The property offers great rental income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gretna
    County
    Pittsylvania
    State
    Virginia
    Longitude
    -79.361222
    Latitude
    36.951555

    Nearby Similar for Sale

    • $425,000
      10,004 SF

      Mixed-Use Property in Gretna, VA

      Two-story building with retail space and residential units.
      201 S Main St, Gretna, VA 24557
      View Details
    • $149,900
      1,050 SF

      Gretna Multifamily Investment Opportunity

      Three parcels with two mobile homes, ideal for rental income.
      2037 Piney Grove Rd, Gretna, VA 24557
      View Details
    • $1,073,000
      Pending

      Sprawling Estate with Historic Charm

      110+/- acre estate with two homes and multiple outbuildings.
      2632 Paisley Rd, Gretna, VA 24557
      View Details
    • $349,000
      8,000 SF

      Gretna Movie Theatre For Sale

      Historic Downtown Theatre - 235 Seats
      107 Main St, Gretna, VA 24557
      View Details
    • $274,900

      Income Producing Mobile Home Park

      12-unit mobile home park on 3.26 acres with income potential.
      112 Ramsey Rd, Gretna, VA 24557
      View Details
    • Contact for pricing

      Downtown Gretna Movie Theater

      235-seat movie theater with modern equipment and amenities.
      107 N Main St, Gretna, VA 24557
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-story property with retail space and seven residential units.
    Where is this mixed-use property located?
    The property is located at 201 S Main St Gretna, VA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Mixed-use property featuring retail space and seven residential units.; - Seven residential units include six efficiency apartments and one 1-bedroom unit.; - Each residential unit includes ranges, refrigerators, and insulated windows.
    (434) 841-0890
    Request Owner's contact information
    201 S Main St Gretna, VA 24557
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    201 S Main St
    Gretna, VA 24557
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    201 S Main St Gretna, VA 24557
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert E Dawson
    Robert E Dawson
    Real Estate License ID: 0225036912
    (434) 841-0890 (434) 385-0015 (434) 455-4777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!