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    2828 E 4th Avenue Big Stone Gap, VA 24219

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    Claim this Listing
    New
    For Sale
    $279,900

    MULTI_FAMILY - Ranch - Big Stone Gap, VA

    Type:Single Family Residence
    Lot size:
    0.60 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 15 at 12:06 am

    Property Features for 2828 E 4th Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    Residential
    Bedrooms
    8
    Bathrooms
    5
    Rooms
    Bedroom 6, Bathroom 2, Bedroom 5, Basement, Bathroom 1, Bedroom 8, Bathroom 4, Bedroom 1, Bathroom 5, Bedroom 7, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 3
    Parking features
    Driveway
    Basement
    Crawl Space
    Appliances
    Electric Range, Refrigerator
    Standard status
    Active
    APN
    016350
    Lot size
    0.60 Acres

    Taxes and HOA fees

    Tax Annual Amount
    518

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1990
    Number of units
    5
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Michelle Childress

    Listing agent Michelle Childress License #0225189678

    Listing office Appalachian Realty Executives, LLC 440 Orby Cantrell Highway, VA

    Listing date Apr 11, 2026

    MLS# 9993751 Listing URL

    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.

    Overview

    Multifamily Investment Opportunity in Big Stone Gap

    This multifamily property in Big Stone Gap, Virginia, presents an investment opportunity with five units currently owned and occupied by the seller, generating consistent monthly income. The units are well-maintained and benefit from a convenient location near Union schools. Public water and sewer services are available. The property, situated on a 0.6-acre lot, is zoned for residential use. This property is suitable for both experienced investors looking to expand their portfolios and newcomers seeking to enter the income-producing real estate market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Auto Repair Shop Accounting Firm Pharmacy Big Box & Wholesale Store HVAC Service Electronics & Wireless Store Bakery Computer & Electronic Repair Garden Center

    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
    -82.7422
    Latitude
    36.882188

    Nearby Similar for Sale

    • $269,900
      6,768 SF

      Versatile Commercial Building, Big Stone Gap

      Spacious commercial building in Big Stone Gap with endless potential.
      510 E Wood Avenue, Big Stone Gap, VA 24219
      View Details
    • $350,000
      9,400 SF

      Big Stone Gap Corner Property

      Prominent corner location suitable for retail or light industrial.
      1809 2nd Ave E, Big Stone Gap, VA
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained, income-generating multifamily property near Union schools.
    Where is this apartment building located?
    The property is located at 2828 E 4th Avenue Big Stone Gap, VA.
    What is the asking price?
    The asking price for this property is $279,900.
    What are key features of this property?
    This property features: Immediate cash flow from 5 well‑maintained, seller‑owned and occupied units.; Excellent investment opportunity for seasoned or new investors.; Convenient location with close proximity to Union schools.
    (276) 393-1489
    We can help!
    Listing Contact
    Michelle Childress
    Real Estate License ID: 0225189678
    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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