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Property profile & analytics
FOR SALE
Commercial real estate

245 Gate City Hwy Bristol, VA 24201

3,321 SF 0.42 ac lot Built 2001
Individually Owned Absentee Owner Free & Clear
Property ID
US87-1544289
Property summary
AI-generated overview

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 profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2001
Total area 3,321 SF
Lot 0.42 ac (18,208 SF)
APN 33 2 1 4A
UPID US87-1544289
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Wash-A-Teria (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
JIMMY D RATLIFF
JIMMY D RATLIFF
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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