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    Downtown Wytheville Multi-Purpose Commercial Building Title is generated by Realmo AI

    195 S 1st Street, Wytheville, VA 24382

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    For Sale
    $399,000

    COMMERCIAL - Wytheville, VA

    Property size:
    4,949 SF
    Price / SF:
    $80/SF
    Added:
    Feb 13, 2026
    Days on Market:
    91
    Last Refresh:
    May 15 at 8:06 pm

    Property Features for 195 S 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-2DT
    Interior features
    Public Restrooms
    Exterior features
    Lighting
    Standard status
    Active
    Size
    4,949 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1254

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Natural Gas, Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1932
    Floors in Building
    2
    Flooring type
    Vinyl, Wood
    Building materials
    Block
    Roof type
    Rubber

    We can help!

    Listing Contact
    Mitch Anders

    Listing agent Mitch Anders License #0225197222

    Listing office United Country Anders Realty & Auction 850 Chapman Road Po Box 817, Wytheville, VA

    Listing date Feb 13, 2026

    MLS# 95873

    Copyright © 2026 Southwest Virginia Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown location on a busy corner.
    • Multi‑purpose, two‑story building with existing tenants.
    • Over 2,000 SF of available space on the second floor.
    • Well‑maintained building with a history of successful businesses.
    • Additional income potential from existing tenants.
    • Public water and sewer.

    Overview

    Located in bustling downtown Wytheville, this two-story multi-purpose building at 195 S 1st Street offers a business opportunity. Situated on a busy corner within the downtown zoning district, the property provides substantial space. The main level is currently occupied by tenants, while the second floor offers over 2,000 square feet of available space. The property allows business owners to secure their location while benefiting from supplementary income from other tenants in the hub of Southwest Virginia. Historically, the building has housed salons, meeting spaces, Wytheville's radio station, and a successful eatery. The property, with a total size of 4,949 square feet, has been well-maintained and presents potential for investors due to the available space. The zoning is B-2DT.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Wytheville
    County
    Wythe
    State
    Virginia
    Longitude
    -81.0821768
    Latitude
    36.9498716

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    FAQs

    What type of property is this?
    Storefront property - Two-story commercial building with income potential in downtown Wytheville.
    Where is this storefront property located?
    The property is located at 195 S 1st Street Wytheville, VA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime downtown location on a busy corner.; Multi‑purpose, two‑story building with existing tenants.; Over 2,000 SF of available space on the second floor.
    (276) 724-0166
    We can help!
    Listing Contact
    Mitch Anders
    Real Estate License ID: 0225197222
    Learn More
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    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
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