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

    516 W Main St Appalachia, VA 24216

    Sponsored
    For Sale
    $229,000

    COMMERCIAL - Appalachia, VA

    Property size:
    4,000 SF
    Lot size:
    0.25 Acres
    Days on Market:
    132
    Last Refresh:
    Feb 14 at 10:06 am

    Property Features for 516 W Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C
    APN
    018295
    Size
    4,000 SF
    Lot size
    0.25 Acres

    Utilities

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

    Building Details

    Year built
    1946
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Amy Hubbard
    Amy Hubbard

    ReMax Mountain (276) 393-3241

    Listing agent Amy Hubbard (276) 393-3241 License #0225229270

    Listing date Oct 6, 2025

    MLS# 9986688

    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

    Award-Winning Restaurant with Rental Income

    An award-winning BBQ restaurant is available for purchase in Appalachia, Virginia. Known as Black Bear BBQ, this established restaurant has been voted Best of the Best multiple years and includes a stage for artist performances. The property includes two commercial spaces. The first is the fully equipped and operating Black Bear BBQ restaurant with a proven track record. All equipment conveys with the sale, including catering supplies, a smoker on a trailer, and a delivery van. The second commercial space is currently leased to Complete Cardio, generating rental income. This versatile space features soaring ceilings and original hardwood floors and could be transformed into an event venue or other income opportunity. The current owner is willing to stay on during the transition, ensuring new owners have support and guidance. The property is approximately 4,000 square feet in size and sits on a 0.25-acre lot. The property is zoned C. The restaurant has customers from all over the country and is a well-loved stop for the Back Roads of Appalachia, Dragon Slayer, and many other motorsport tourism groups.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Pharmacy Kitchen & Bath Showroom Bar & Pub Daycare Center Grocery & Convenience Store Food Market Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Appalachia
    County
    Wise
    State
    Virginia
    Longitude
    -82.784293
    Latitude
    36.903882

    Nearby Similar for Sale

    • $115,000
      7,164 SF

      Mixed-Use Property in Appalachia, VA

      Commercial and residential spaces with rental income potential in Appalachia.
      106 Kentucky Ave, Appalachia, VA 24216
      View Details
    • $90,000
      2,874 SF

      Appalachia, VA Commercial Property

      One-story country church with potential for residential or commercial use.
      817 Oakdale St, Appalachia, VA 24216
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    FAQs

    What type of property is this?
    Turn key restaurant - Turn-key restaurant with rental income in historic Appalachia, Virginia.
    Where is this turn key restaurant located?
    The property is located at 516 W Main St Appalachia, VA.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: - Established, Award-Winning BBQ Restaurant: A proven track record with multiple 'Best of the Best' awards and a loyal customer base.; - Immediate Rental Income: Includes a second commercial space currently leased to Complete Cardio, generating revenue.; - Turn-Key Operation: Fully equipped restaurant with all equipment included, such as catering supplies, smoker on trailer, and delivery van.
    (276) 393-3241
    Request Owner's contact information
    516 W Main St Appalachia, VA 24216
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    Appalachia, VA 24216
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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
    516 W Main St Appalachia, VA 24216
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    We can help!
    Listing Contact
    Amy Hubbard
    Amy Hubbard
    Real Estate License ID: 0225229270
    (276) 393-3241
    Learn more
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