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    702 Park Ave Norton, VA 24273

    Sponsored
    For Sale
    $425,000

    19,000 SF, 0.5-acre lot, high potential

    Property size:
    19,345 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional commercial property, located at 702 NW Park Avenue in Norton, Virginia, presents a unique investment opportunity. The former Bank of America building boasts over 19,345 square feet of finished space, ideally situated on a half-acre lot encompassing four downtown parcels. One lot offers a drive-through feature and ample parking with approximately 20 spaces. The B-2 zoning allows for versatile usage, permitting commercial space on the ground floor and the potential conversion of the upper floors into residential lofts or apartments. The possibilities are extensive, allowing for creative adaptation to suit diverse business needs. The main floor features multiple spaces with separate entrances, perfect for leasing to multiple tenants. A remarkable historical detail includes the original bank safes, complete with all safety deposit boxes and keys. This property offers a blend of established infrastructure and significant redevelopment potential, making it an attractive proposition for discerning investors seeking a high-impact commercial asset in a vibrant downtown location. All information should be independently verified.

    Property Features for 702 Park Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    19,345 SF
    Lot Size
    21,780 SF

    Building Details

    Year Built
    1926
    Property Profile Location Intelligence

    Current Use by Public Records

    Old Virginia Hemp ... Pharmacy

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Norton
    County
    Wise
    State
    Virginia
    Longitude
    -82.62862
    Latitude
    36.93441

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    FAQs

    What type of property is this?
    Commercial real estate - 19,000 SF, 0.5-acre lot, high potential
    Where is this commercial real estate located?
    The property is located at 702 Park Ave Norton, VA.
    What is the asking price?
    The asking price for this property is $425,000.
    (276) 328-0034
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    702 Park Ave Norton, VA 24273
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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
    702 Park Ave Norton, VA 24273
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