Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    498 Washington St Bristol, VA 24201

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Warehouse space with loading dock, drive-in door, and office.

    Type:Industrial, Business for Sale
    Property size:
    5,320 SF
    Added:
    Nov 18, 2022
    Days on Market:
    1244
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 498 Washington St

    General Information

    Standard status
    Active
    Size
    5,320 SF
    Property subtype
    Industrial, Business for Sale

    We can help!

    Listing Contact
    Kreg Ramey

    Listing agent Kreg Ramey License #VA 0225257743

    Listing office Interstate Realty Company

    Listing date Nov 18, 2022

    Source Crexi

    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 Interstate Realty Company

    Overview

    Warehouse with Loading Dock

    This property, currently closed, is suitable for immediate occupancy. It offers potential as a warehouse space, featuring a loading dock and a drive-in door. The property includes a small office area. The building's size is 5320 square feet.
    Location Intelligence

    Current Use by Public Records

    Stevens Oil Co Gas Station

    Suggested Use

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

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

    Similar Places Nearby

    • HOLSTON STORAGE LLC — 450 Piedmont Ave, Bristol, VA 24201
    • Downtown Bristol Self Storage — 334 Williams St, Bristol, VA 24201

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.1761145
    Latitude
    36.5994829

    Nearby Similar for Sale

    • $675,000
      3,634 SF

      Historic Downtown Commercial Property

      Adaptable commercial space in Bristol's historic downtown district.
      171 Piedmont Avenue, Bristol, VA 24201
      View Details
    • $699,000
      2,528 SF

      Adaptable Commercial Property on Euclid Avenue

      Highly visible commercial property with flexible layout on Euclid Avenue.
      2165 Euclid Avenue, Bristol, VA 24201
      View Details
    • $699,000
      3,349 SF

      Commercial Property on Euclid Avenue

      High-visibility commercial property with long-term tenant in place.
      2155 Euclid Avenue, Bristol, VA 24201
      View Details
    • $2,195,000
      3,321 SF

      Bristol Commercial Property Near Casino

      Turnkey commercial operation with high visibility and growth potential.
      245 Gate City Highway, Bristol, VA 24201
      View Details
    • $1,250,000
      17,929 SF

      Downtown Bristol Commercial Building

      17,900+ sqft commercial building in historic downtown Bristol.
      513 State Street, Bristol, VA 24201
      View Details
    • $224,900
      1,071 SF

      Euclid Avenue Professional Office Opportunity

      Professional office with expansion potential near downtown Bristol and Hard Rock Casino.
      1723 Euclid Ave, Bristol, VA 24201
      View Details
    • $325,000
      1,710 SF

      Versatile Commercial Property in Bristol, VA

      Adaptable commercial space suitable for various professional uses.
      1941 Euclid Ave, Bristol, VA 24201
      View Details
    • $499,900
      3,200 SF

      Versatile Metal Building in Bristol

      3,200 sq ft metal building ideal for storage or manufacturing.
      150 Hemlock Drive, Bristol, VA 24201
      View Details
    • $349,000
      1,337 SF

      High-Visibility Commercial Property in Bristol

      Visible location near Hard Rock Hotel. Automotive sales or other uses.
      2245 Euclid Avenue, Bristol, VA 24201
      View Details
    • $155,000
      1,204 SF

      Bristol Mixed-Use Opportunity

      Renovated mixed-use building with expansion potential near downtown Bristol.
      105 Martin Road, Bristol, VA 24201
      View Details
    • $380,900
      3,000 SF

      Well-Maintained Multifamily Property

      Three-unit multifamily property perfect for investors or owner-occupants.
      140 Harvest Road, Bristol, VA 24201
      View Details
    • $224,900
      1,071 SF

      Professional Office Opportunity in Bristol

      Highly visible office with expansion potential near downtown Bristol.
      1723 Euclid Ave, Bristol, VA 24201
      View Details

    FAQs

    What type of property is this?
    Warehouse - Warehouse space with loading dock, drive-in door, and office.
    Where is this warehouse located?
    The property is located at 498 Washington St Bristol, VA.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: Ready for immediate occupancy and business operations.; Features a loading dock for efficient shipping and receiving.; Includes a drive‑in door for easy access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kreg Ramey
    Real Estate License ID: VA 0225257743
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!