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    302 Crescent Drive Glade Spring, VA 24340

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    For Sale
    $174,900

    COMMERCIAL - Glade Spring, VA

    Property size:
    2,819 SF
    Lot size:
    0.48 Acres
    Price / SF:
    $62/SF
    Added:
    May 8, 2026
    Days on Market:
    1
    Last Refresh:
    May 8 at 5:06 pm

    Property Features for 302 Crescent Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    glade
    Parking
    25
    Standard status
    Active
    APN
    052a212 J
    Size
    2,819 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1619

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1969
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Maxwell Yates

    Listing agent Maxwell Yates License #225269010

    Listing office Matt Smith Realty 102 Wall St Suite 3, ABINGDON, VA

    Listing date May 8, 2026

    MLS# 9995084

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Exceptional potential for conversion into a single‑family residence or multi‑family dwelling.
    • Spacious sanctuary and open gathering areas offer flexible layout options.
    • Convenient in‑town location on Crescent Drive in Glade Spring.
    • Generous interior square footage.
    • Durable brick construction and metal roof.
    • Equipped with heat pump for both heating and cooling.

    Overview

    Flourishing Church in Glade Spring

    Located on Crescent Drive in Glade Spring, this well-maintained church offers potential for its next chapter. The property features a spacious sanctuary, open gathering areas, and multiple rooms. With generous interior square footage of 2819 square feet and flexible layout options, it presents opportunities for continued use as a place of worship or conversion into a single-family residence or multi-family dwelling. Situated on a 0.48-acre lot in a convenient in-town location, this property is suitable for investors, developers, or anyone seeking a unique property with possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Auto Repair Shop Gym & Fitness Center Skin Care Clinic Kitchen & Bath Showroom Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Glade Spring
    County
    Washington
    State
    Virginia
    Longitude
    -81.767608
    Latitude
    36.79358

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    FAQs

    What type of property is this?
    Church & religious facility - Well-maintained church with potential for various uses.
    Where is this church & religious facility located?
    The property is located at 302 Crescent Drive Glade Spring, VA.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: Exceptional potential for conversion into a single‑family residence or multi‑family dwelling.; Spacious sanctuary and open gathering areas offer flexible layout options.; Convenient in‑town location on Crescent Drive in Glade Spring.
    (276) 274-9479
    We can help!
    Listing Contact
    Maxwell Yates
    Real Estate License ID: 225269010
    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.

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