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

    409 Fritz St Damascus, VA 24236

    Sponsored
    For Sale
    $750,000

    COMMERCIAL - Damascus, VA

    Property size:
    3,370 SF
    Lot size:
    0.40 Acres
    Days on Market:
    31
    Last Refresh:
    Feb 16 at 4:06 am

    Property Features for 409 Fritz St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    172b4 1 10 & 172b4 1 24
    Size
    3,370 SF
    Lot size
    0.40 Acres

    Utilities

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

    Building Details

    Year built
    1957
    Building materials
    Vinyl Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    James Day

    Copper Key Properties Powell, Realtors (423) 863-4514

    Listing agent James Day (423) 956-1378 License #382858, 0225276049

    Listing date Jan 17, 2026

    MLS# 9990265

    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

    Damascus Commercial Property For Sale

    This commercial property in Damascus, Virginia, presents a rare opportunity to own a turn-key business in a prime tourist destination. The property includes a well-established restaurant that has been operating for over 35 years, featuring a full bar and seating for up to 38 indoors and up to 100 outdoors. An outdoor deck provides additional seating and serves as a space for live entertainment. The restaurant has an updated full commercial kitchen with efficient production areas, ample cold storage, and a trained staff. The property also includes an ice cream shop housed in a separate building at the front of the property, offering excellent visibility and charm. Customers can order through a walk-up storefront window or step inside and experience the sweet personality of a classic ice cream parlor. Additionally, there are three beautifully furnished short-term rental units that provide an additional stream of income. The property is located in Damascus, known as Trail Town USA, where seven major trails intersect, drawing visitors from across the country. The Virginia Creeper Trail runs directly across the road from this 0.4-acre property. The property's location is described as high-traffic, with the restaurant being the first one tourists see at the bottom of the trail. The property size is 3,370 square feet. The current owner has agreed to stay on staff for 3 months to help with the transition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wicked Chicken Winghouse ... Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Pharmacy Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Damascus
    County
    Washington
    State
    Virginia
    Longitude
    -81.781546
    Latitude
    36.630412

    Nearby Similar for Sale

    • $145,000
      Pending

      Damascus Commercial Building For Sale

      1,200 sq ft commercial building in Damascus, Virginia.
      605 E 5Th St, Damascus, VA 24236
      View Details
    • Contact for pricing

      Gas Station, Grocery, Car Wash

      Established business opportunity near popular trails and parks.
      20433 Azen Rd, Damascus, VA 24236
      View Details

    FAQs

    What type of property is this?
    Restaurant - Turn-key restaurant, ice cream shop, and rental units in Damascus.
    Where is this restaurant located?
    The property is located at 409 Fritz St Damascus, VA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Prime location in Damascus, VA, at the intersection of 7 major trails, including direct frontage on the Virginia Creeper Trail.; - Turn-key business opportunity including a well-established restaurant (35+ years), a separate ice cream shop, and three furnished short-term rental units.; - Restaurant features a full bar, updated commercial kitchen, ample cold storage, trained staff, and seating for up to 38 indoors and **100 outdoors**, including an outdoor deck.
    (423) 956-1378
    Request Owner's contact information
    409 Fritz St Damascus, VA 24236
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    Damascus, VA 24236
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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
    409 Fritz St Damascus, VA 24236
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    We can help!
    Listing Contact
    James Day
    Real Estate License ID: 382858, 0225276049
    (423) 956-1378
    Learn more
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