Freestanding Restaurant with
For Sale
Contact for pricing
Pending
315 DEPOT ST NW, Christiansburg, VA 24073
Freestanding restaurant building with patio space on commercially zoned land, located along the Huckleberry Trail near Depot Park.
Property Size1,100 SF
Lot Size0.41 Acres
Days on Market50
Property Features for 315 DEPOT ST NW
General Information
Standard status
Pending
Size
1,100 SF
Class
B
Total Parking Spaces
18
Lot size
0.41 Acres
Property subtype
Retail, Business for Sale
Zoning
B3
Investment Type
Owner/User
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
2021
Year Renovated
2022
Buildings
1
Stories
1
Units
1
Listing Agency:
Elliott Inc.
(540) 357-2084
Listed By:
Carmen Elliott · License #VA 0225247701
Source:
Crexi
Added: Jul 13
Changed: Aug 7
Last Checked: Jul 29 at 5:22PM
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 Elliott Inc.
Investment Insights
Based on property information with market context.
The property is a freestanding restaurant facility set up for continued food service, featuring an approximately 1,100 SF building plus about 900 SF of patio space. The site sits on about 0.41 acres of commercially zoned land and includes on-site parking and outdoor seating to support restaurant operations.
The location is directly along the Huckleberry Trail and steps from Depot Park, placing it near a heavily used pedestrian and recreational corridor. It is also positioned minutes from Virginia Tech, downtown Christiansburg, and I-81, serving regional travel patterns that connect the university area with the surrounding market.
The location is directly along the Huckleberry Trail and steps from Depot Park, placing it near a heavily used pedestrian and recreational corridor. It is also positioned minutes from Virginia Tech, downtown Christiansburg, and I-81, serving regional travel patterns that connect the university area with the surrounding market.
Key Highlights
- Year built 2021 freestanding restaurant building with 1,100 SF interior plus 900 SF patio space
- Sits on 0.41 acres of commercially zoned land with ample on‑site parking and outdoor seating
- Located directly along the Huckleberry Trail and steps from Depot Park in Christiansburg’s Depot District
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,190
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$343,800
$343.8K
Cap Rate 7%
$245,571
$245.6K
Cap Rate 9%
$191,000
$191.0K
Market Conditions
NOI Build-Up for 1,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.1K $24.60/SF
− Vacancy
−$4.1K −$3.76/SF
EGI
$22.9K $20.84/SF
− OpEx
−$5.7K −$5.21/SF
NOI
$17.2K $15.63/SF
Area
Montgomery County, VA
Vacancy
15.30%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$343,800
Cap Rate 7%
$245,571
Cap Rate 9%
$191,000
Alternative Uses
Best Use
Specialty Retail
$245.6K
$214.9K – $286.5K
NOI $17,190 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$260.3K
$227.8K – $303.7K
NOI $18,222 @ 7.0% cap · market cap 3.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
54k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 22%
Hotels & Casinos 1%
Burger King
Dining
14,872 visits/mo
0.4 miles
Macado's
Dining
12,561 visits/mo
0.5 miles
Pizza Inn
Dining
8,448 visits/mo
0.4 miles
BP
Shops & Services
7,643 visits/mo
0.5 miles
Sunoco
Shops & Services
3,774 visits/mo
0.0 miles
Demographics for 24073, VA
32,093
Population
14,248
Households
2.3
Avg Household Size
39
Median Age
42%
College-Educated
94%
High-School Grad
89.6 sq mi
ZIP Area
358
Density / Sq Mi
$75,103
Median Household Income
$46,396
Median Earnings
$1,150
Median Rent
$247,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant building with patio space on commercially zoned land, located along the Huckleberry Trail near Depot Park.
Where is this conventional restaurant located?
The property is located at 315 DEPOT ST NW Christiansburg, VA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Year built 2021 freestanding restaurant building with 1,100 SF interior plus 900 SF patio space; Sits on 0.41 acres of commercially zoned land with ample on‑site parking and outdoor seating; Located directly along the Huckleberry Trail and steps from Depot Park in Christiansburg’s Depot District
