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    Historic Mixed-Use Building Opportunity Title is generated by Realmo AI

    501 Front Street, Coeburn, VA 24230

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    Claim this Listing
    For Sale
    $485,000

    MULTI_FAMILY - Other - Coeburn, VA

    Added:
    Sep 28, 2023
    Days on Market:
    983
    Last Refresh:
    Jun 6 at 3:06 am

    Property Features for 501 Front Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Historical Dist
    Bedrooms
    3
    Bathrooms
    4
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2, Basement
    Window features
    Double Pane Windows
    Basement
    Concrete, Dirt Floor
    Standard status
    Active
    APN
    005096

    Taxes and HOA fees

    Tax Annual Amount
    528

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1908
    Floors in Building
    3
    Number of units
    8
    Flooring type
    Hardwood
    Building materials
    Brick
    Roof type
    Rolled Hot Mop
    Architectural style
    Other

    We can help!

    Listing Contact
    Eddie Serralles

    Listing agent Eddie Serralles License #0225254417

    Listing office Serralles Group, Inc. 2322 N Highland Ave, VA

    Listing date Sep 28, 2023

    MLS# 9957462 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.

    HighLights

    • 1908 brick 3‑story building with hardwood flooring and a rolled hot mop roof.
    • Mixed‑use layout: ground‑floor commercial space plus apartments on multiple levels.
    • Ground floor includes a commercial area and 1 apartment.
    • Second floor has 4 apartments.
    • Third floor includes 1 apartment plus a partially built‑out area with a stage and expansive windows overlooking Front Street.
    • Utilities/services: public water and public sewer.

    Overview

    Located at 501 Front Street in Coeburn, this three-story mixed-use property includes commercial space on the ground floor and apartments on the second and third levels. The ground floor features a spacious commercial area plus one apartment. The second floor is arranged with four apartments designed to support steady rental income. The third floor includes one apartment and a partially built-out area with a stage and expansive windows with views described in the offering.

    The building sits within the Historical Dist zoning designation and is presented as the town’s largest three-story building, positioned as a contributor to revitalization in Coeburn’s historic downtown. The listing highlights strong visibility and foot traffic for the ground-floor commercial space, along with the potential for the third-floor area to function as a community gathering or event venue, or as a loft-style concept depending on the next operator’s plan.

    For buyers and operators, the setup offers multiple income streams and flexible use of the upper-level space. A tenant may pursue the ground-floor commercial footprint while the residence units continue to generate rental income, or an investor can renovate and re-purpose the partially built-out third-floor area to better match market demand. The seller is noted as being open to seller financing with specific terms, which may broaden financing options for qualified buyers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Redbox Cinema Faimly Drug, Jesse ... Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Coeburn
    County
    Wise
    State
    Virginia
    Longitude
    -82.483902
    Latitude
    36.941086

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    FAQs

    What type of property is this?
    Mixed-use property - A three-story building combining ground-floor commercial space with multiple apartments in a historic downtown district.
    Where is this mixed-use property located?
    The property is located at 501 Front Street Coeburn, VA.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: 1908 brick 3‑story building with hardwood flooring and a rolled hot mop roof.; Mixed‑use layout: ground‑floor commercial space plus apartments on multiple levels.; Ground floor includes a commercial area and 1 apartment.
    (813) 610-1563
    We can help!
    Listing Contact
    Eddie Serralles
    Real Estate License ID: 0225254417
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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.

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