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    245 Gate City Hwy Bristol, VA 24201

    For Sale
    $2,750,000

    Prime Bristol location, high-traffic, turnkey operation.

    Property size:
    3,321 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional commercial property, located at 245 Gate City Highway in Bristol, VA, presents a lucrative investment opportunity. Situated on 0.42 acres of land at a signalized intersection directly across from the Hard Rock Casino, this high-visibility location boasts over 3,321 square feet of versatile commercial space and 25+ parking spaces. The property features over 140 feet of road frontage on Gate City Highway, benefiting from an impressive average daily traffic count exceeding 9,200 vehicles. Zoned B3, this flexible zoning allows for a wide range of commercial uses. The existing building, custom-built in 2001, has been meticulously maintained and operated as a thriving business for over 20 years. Equipped with state-of-the-art features including 12 high-grade solar panels, 3-phase power, LED lighting, two newer HVAC units, and a 6-inch drain line, the property offers significant operational efficiencies. Additional revenue streams are generated from vending machines, coin machines, and the Virginia Lottery. The property also includes advanced security features such as 24-hour remote monitoring and individual utility cutoffs. This turnkey operation offers immediate cash flow potential and significant long-term appreciation, making it a rare opportunity in the highly sought-after casino district. The asking price is $2,750,000.

    Property Features for 245 Gate City Hwy

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,321 SF
    Lot Size
    18,295 SF

    Building Details

    Year Built
    2001
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wash-A-Teria Laundromat

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol City
    State
    Virginia
    Longitude
    -82.21305
    Latitude
    36.59715

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Bristol location, high-traffic, turnkey operation.
    Where is this commercial real estate located?
    The property is located at 245 Gate City Hwy Bristol, VA.
    What is the asking price?
    The asking price for this property is $2,750,000.
    (423) 845-5800
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    Bristol, VA 24201
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    Realmo Value Estimation

    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.

    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.

    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
    245 Gate City Hwy Bristol, VA 24201
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