Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land with Development Potential Title is generated by Realmo AI

    540 S Main Street, Marion, VA 24354

    View on Map
    Claim this Listing
    For Sale
    $230,000

    COMMERCIAL - Marion, VA

    Property size:
    13,600 SF
    Lot size:
    1.55 Acres
    Price / SF:
    $16/SF
    Added:
    Oct 13, 2025
    Days on Market:
    226
    Last Refresh:
    May 26 at 4:06 pm

    Property Features for 540 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMERCIAL
    Parking
    75
    Standard status
    Active
    APN
    208-102-8 014885
    Size
    13,600 SF
    Lot size
    1.55 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2082

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1945
    Building materials
    Block, Wood Siding
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Dawn Shinault
    Dawn Shinault

    Listing agent Dawn Shinault License #339074, 0225231966

    Listing office KW Bristol 930 Shelby St, Bristol, VA

    Listing date Oct 13, 2025

    MLS# 9986947

    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

    • High potential for various commercial uses: office spaces, townhouses, short‑term rentals, car dealership, strip mall, medical offices, urgent care.
    • Opportunity to acquire adjacent property (Dr. Pepper/Budweiser distribution plant) for increased space (10,000 SF) and land (over an acre).
    • Potential for significant road frontage (additional 400 feet with adjacent property).
    • Public water and sewer connections available.
    • Block and wood siding construction.
    • Located on a corner lot (with purchase of adjacent property).

    Overview

    This 1.55-acre commercial land offers various possibilities for development. The property is suitable for rehabilitation into office spaces, townhouses, or short-term rental units. Alternatively, it can be redeveloped into a car dealership, a new strip mall, doctors' offices, or an urgent care facility. An adjacent property, a Dr. Pepper/Budweiser distribution plant, is also available through the same realtor. Purchasing both properties would provide an additional 10,000 square feet of space and over an acre of land, creating two corner lots with an additional 400 feet of road frontage. The existing structure has a size of 13,600 square feet. The property is located in Marion, VA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Marion
    County
    Smyth
    State
    Virginia
    Longitude
    -81.5282591
    Latitude
    36.8275189

    Nearby Similar for Sale

    • $1,362,500
      26,460 SF

      Marion Warehouse/Office Complex For Sale

      26,460 sqft warehouse/office complex with investment potential in downtown Marion.
      236* E High Street, Marion, VA 24354
      View Details
    • $2,650,000
      15,348 SF

      Commercial Property with Tenant Income

      Two buildings with five units, fully tenanted medical and retail.
      929 N Main Street, Marion, VA 24354
      View Details
    • $2,650,000
      15,348 SF

      Marion Commercial Property For Sale

      Commercial property with medical and retail tenants in Marion, VA.
      929 N Main, Marion, VA 24354
      View Details
    • $135,963
      9,440 SF

      Commercial Property with High-Capacity Electrical

      Commercial property in Marion, VA, with high-capacity electrical infrastructure.
      556 S Main Street, Marion, VA 24354
      View Details
    • $355,000
      11,801 SF

      Downtown Marion Commercial Opportunity

      Commercial space in downtown Marion, ready for your dream business.
      221 W Main Street, Marion, VA 24354
      View Details
    • $299,000
      880 SF

      Established Restaurant Opportunity in Marion

      Commercial property with established business, ready for new ownership.
      534 S Main, Marion, VA 24354
      View Details
    • $122,947
      8,250 SF

      Commercial Property with Endless Potential

      Versatile commercial property suitable for various business ventures.
      129 Greenway Avenue, Marion, VA 24354
      View Details
    • $299,900

      Commercial Land in Marion, VA

      Prime commercial land for sale in Marion, Virginia.
      311 E Lee Street, Marion, VA 24354
      View Details
    • $165,000

      Commercial Lot in Prime Location

      Commercial lot in Marion, VA, near amenities and college.
      Park Blvd lot: 13, Marion, VA 24354
      View Details
    • $195,000

      Adventure Tourism Land For Sale

      40 acres of developed adventure tourism land near Hungry Mother State Park.
      760 Walkers Creek Rd. lot: 45-A-99A, Marion, VA 24354
      View Details
    • $285,000

      Commercial Land Near Main Street

      Commercial land suitable for restaurants, hotels, and shops.
      Windy Drive, Marion, VA 24354
      View Details
    • $59,000

      Commercial Lot on Highway 16

      Level commercial lot near I-81 Exit 45 in Marion, VA.
      Highway 16 lot: 64, Marion, VA 24354
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with possibilities for various business ventures.
    Where is this commercial land located?
    The property is located at 540 S Main Street Marion, VA.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: High potential for various commercial uses: office spaces, townhouses, short‑term rentals, car dealership, strip mall, medical offices, urgent care.; Opportunity to acquire adjacent property (Dr. Pepper/Budweiser distribution plant) for increased space (10,000 SF) and land (over an acre).; Potential for significant road frontage (additional 400 feet with adjacent property).
    (423) 845-0629
    We can help!
    Listing Contact
    Dawn Shinault
    Dawn Shinault
    Real Estate License ID: 339074, 0225231966
    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
    540 S Main Street, Marion, VA 24354
    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!