Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Mixed-Use Investment Opportunity Title is generated by Realmo AI

    215 S Main St, Blackstone, VA 23824

    View on Map
    Claim this Listing
    For Sale
    $325,000

    Mixed-use building with office, shop, and apartment potential.

    Property size:
    5,920 SF
    Price / SF:
    $54/SF
    Added:
    Aug 29, 2025
    Days on Market:
    277
    Last Refresh:
    Jun 1 at 2:06 am

    Property Features for 215 S Main St

    General Information

    Standard status
    Active
    Size
    5,920 SF

    We can help!

    Listing Contact
    Rebecca Simpson
    Rebecca Simpson

    Listing agent Rebecca Simpson License #225077757

    Listing office RE/MAX Advantage Plus

    Listing date Aug 29, 2025

    Source Exprealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advantage Plus

    HighLights

    • Versatile building suitable for office spaces, shop, or residential apartments.
    • Potential for two rental apartments upstairs, increasing income potential.
    • Adaptable for conversion into a brewery or distillery with customer viewing area.
    • Option to create a spacious open‑concept bar or restaurant.
    • Existing configuration as an income‑producing office building.
    • Offers flexibility, income potential, and character.

    Overview

    This versatile 5920-square-foot building presents an investment opportunity with potential for various uses. Currently, the building is divided into two office spaces and a shop area in the back. There is also the possibility of creating two rental apartments upstairs. The property could be suitable for a brewery or distillery. Removing the center wall could create a spacious, open-concept bar or restaurant area, while the rear shop could accommodate a brewery or distillery setup, offering customers a view of the production process. Alternatively, the property can remain as an income-producing office building with the addition of two residential rentals to maximize return.
    Location Intelligence

    Current Use by Public Records

    Jackson Hewitt Tax ... Accounting Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Blackstone
    County
    Nottoway
    State
    Virginia
    Longitude
    -77.9978964
    Latitude
    37.0788697

    Nearby Similar for Sale

    • $600,000
      4,043 SF

      Blackstone Commercial Property For Sale

      Commercial property featuring over 4,000 sq.ft of office and service space.
      1007 S Main, Blackstone, VA 23824
      View Details
    • $325,000
      5,920 SF

      Versatile Commercial Building in Blackstone

      Mixed-use property with office, shop, and apartment potential.
      215 S Main Street, Blackstone, VA 23824
      View Details
    • $973,000
      2,860 SF

      Retail Space For Sale

      Retail space available with a 7.00% CAP rate.
      101 N Main St, Blackstone, VA 23824
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with office, shop, and apartment potential.
    Where is this mixed-use property located?
    The property is located at 215 S Main St Blackstone, VA.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Versatile building suitable for office spaces, shop, or residential apartments.; Potential for two rental apartments upstairs, increasing income potential.; Adaptable for conversion into a brewery or distillery with customer viewing area.
    (434) 547-7263
    We can help!
    Listing Contact
    Rebecca Simpson
    Rebecca Simpson
    Real Estate License ID: 225077757
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    215 S Main St, Blackstone, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!