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    Commercial Property with Apartment Title is generated by Realmo AI

    5239 Us Hwy 421, Pennington Gap, VA 24277

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    For Sale
    $130,000

    COMMERCIAL - Pennington Gap, VA

    Property size:
    2,000 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $65/SF
    Added:
    Jul 10, 2025
    Days on Market:
    313
    Last Refresh:
    May 18 at 2:06 pm

    Property Features for 5239 Us Hwy 421

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Com_Industrial
    Standard status
    Active
    APN
    23e-(62) 1-5, 17-20
    Size
    2,000 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Annual Amount
    957

    Utilities

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

    Building Details

    Year built
    1960
    Building materials
    Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Virginia Roberts
    Virginia Roberts

    Listing agent Virginia Roberts License #0225239196

    Listing office Ridgeview Real Estate 215A E Main St, VA

    Listing date Jul 10, 2025

    MLS# 9982942

    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

    • Mixed‑use property with commercial space and a 2‑bedroom apartment
    • Half‑acre lot with secondary water and sewer hookups for expansion
    • Two spacious garage bays with rear storage rooms suitable for workshop or storage
    • Apartment has updated electrical and separate meter
    • Durable metal roof
    • Located on a busy highway for optimal visibility

    Overview

    This commercial property features a solid block building with a 2-bedroom, 1-bath apartment on the upper level. The apartment has updated electrical and is separately metered from the lower level. The lower level includes two spacious garage bays, each with its own large rear storage room featuring gravel flooring. Situated on a 0.5-acre lot, the property also offers secondary water and sewer hookups. The building is topped with a durable metal roof and is located on a busy highway. The property is suited for mixed-use, live-work, rental, workshop, storage, or light industrial use. The property is located in Pennington Gap, VA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pennington Gap
    County
    Lee
    State
    Virginia
    Longitude
    -83.014889
    Latitude
    36.760441

    FAQs

    What type of property is this?
    Mixed-use property - Versatile commercial building with apartment on a half-acre lot.
    Where is this mixed-use property located?
    The property is located at 5239 Us Hwy 421 Pennington Gap, VA.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Mixed‑use property with commercial space and a 2‑bedroom apartment; Half‑acre lot with secondary water and sewer hookups for expansion; Two spacious garage bays with rear storage rooms suitable for workshop or storage
    (276) 219-2213
    We can help!
    Listing Contact
    Virginia Roberts
    Virginia Roberts
    Real Estate License ID: 0225239196
    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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