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    18928 Us Highway 58 Castlewood, VA 24224

    For Sale
    $550,000

    Long-standing restaurant with additional office and residential income.

    Lot size:
    0.99 Acres

    Property Features for 18928 Us Highway 58

    General Information

    Lot size
    0.99 Acres

    Source: Virginessee Real Estate Consultants Agent Fred McClellan

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

    Overview

    Established Restaurant with Income Potential

    This property features a drive-in restaurant that has been in operation for nearly 60 years, establishing itself as a local landmark known for its food. The property spans 0.99 acres and includes four structures. The primary building is a fully equipped restaurant measuring 4,590 square feet. An additional 2,320-square-foot structure is currently leased for office use, providing rental income. A 1,792-square-foot manufactured doublewide home is also located on the property, offering potential for residential use or additional rental income. The fourth building is a smaller brick structure. The property is located in Castlewood, VA, on US Highway 58.
    Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Castlewood
    County
    Russell
    State
    Virginia
    Longitude
    -82.3038894
    Latitude
    36.8790616

    FAQs

    What type of property is this?
    Drive through restaurant - Long-standing restaurant with additional office and residential income.
    Where is this drive through restaurant located?
    The property is located at 18928 Us Highway 58 Castlewood, VA.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: - Established drive-in restaurant with a 60-year operating history and landmark reputation.; - Fully equipped 4,590 sq/ft restaurant building included.; - Additional 2,320 sq/ft building currently leased for office use, providing immediate income.
    (276) 492-3839
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    18928 Us Highway 58 Castlewood, VA 24224
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    Castlewood, VA 24224
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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
    18928 Us Highway 58 Castlewood, VA 24224
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