Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    190 Lithia Rd Wytheville, VA 24382

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $985,000

    6,064 SF Restaurant, $985,000

    Property size:
    6,064 SF

    Property Features for 190 Lithia Rd

    General Information

    Property type
    Restaurants
    Square Feet
    6,064 SF

    We can help!

    Listing Contact
    Briggs Cooper
    Briggs Cooper

    Listing Agency: Cushman & Wakefield Thalhimer - Roanoke, Virginia Listing Agent: Briggs Cooper

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional restaurant property, located at 190 Lithia Rd in Wytheville, Virginia, presents a compelling investment opportunity. The 6,064 square foot building sits on a 1.26-acre lot and is zoned B. Its strategic location within the I-81/I-77 Crossroads development corridor places it among numerous established restaurant and hotel brands, ensuring high visibility and accessibility. The property boasts a Wythe County assessment of $1,312,800, significantly exceeding the asking price of $985,000. This presents a strong potential return on investment. The current lease rate stands at $18.00 per square foot per year. The property's size, location, and existing infrastructure make it ideal for a variety of restaurant concepts or potential redevelopment. The 24382 zip code offers a thriving community and convenient access to major transportation routes. This turnkey operation is ready for a new owner to capitalize on its prime location and strong market presence. Serious inquiries are encouraged to explore this lucrative opportunity in the heart of Wytheville's vibrant commercial sector. The property is well-suited for an established restaurant or a new venture seeking a high-traffic location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Pharmacy Auto Parts Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wytheville
    County
    Wythe
    State
    Virginia
    Longitude
    -81.0560783
    Latitude
    36.9488808

    Nearby Similar for Sale

    • $525,000
      8.29 Acres

      8.29 Acres with Income Potential

      Unique property with mobile homes, house, and income potential.
      134/190 Galilee Church Rd, Wytheville, VA 24382
      View Details
    • $399,000
      4,949 SF

      Downtown Wytheville Multi-Purpose Commercial Building

      Two-story commercial building with income potential in downtown Wytheville.
      195 S 1St St, Wytheville, VA 24382
      View Details
    • Contact for pricing

      Historic Office Space in Wytheville

      Furnished, move-in-ready office space in a recognizable historic building.
      150 W Main St, Wytheville, VA 24382
      View Details
    • Contact for pricing
      1,568 SF

      Mountain Home with Wooded Acreage

      Secluded mountain home on 5.7 acres near Wytheville, Virginia.
      176 Dry Gulch Rd, Wytheville, VA 24382
      View Details
    • $1,810,000
      4,400 SF

      Prime Wytheville Retail Investment

      High-cap rate, corporate-guaranteed Mattress Firm
      230 Commonwealth Dr, Wytheville, VA 24382
      View Details
    • $395,000
      2,400 SF

      Prime Wytheville Car Wash Business

      Profitable Car Wash - High Visibility
      425 Main St, Wytheville, VA 24382
      View Details
    • $179,000
      1.10 Acres

      Wytheville Commercial Building - High Visibility

      Prime Commercial Space, High Visibility, 5300 sq ft
      610 Lee Hwy, Wytheville, VA 24382
      View Details
    • $640,000

      Prime Wytheville Commercial Land

      17.5 Acres, Commercial Building, Views
      135 Envision Dr, Wytheville, VA 24382
      View Details

    FAQs

    What type of property is this?
    Restaurant - 6,064 SF Restaurant, $985,000
    Where is this restaurant located?
    The property is located at 190 Lithia Rd Wytheville, VA.
    What is the asking price?
    The asking price for this property is $985,000.
    What are key features of this property?
    This property features: $985,000 asking price.; 6,064 square foot retail restaurant.; Located at 190 Lithia Rd, Wytheville, VA 24382.
    Request Owner's contact information
    190 Lithia Rd Wytheville, VA 24382
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    190 Lithia Rd
    Wytheville, VA 24382
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    190 Lithia Rd Wytheville, VA 24382
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Briggs Cooper
    Briggs Cooper
    Real Estate License ID: 0225270854
    Learn more
    Google sign-in failed. Please try again or use another login method.