245 Gate City Hwy Bristol, VA 24201
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Turnkey Laundromat, High ROI, Casino District
Property size:
3,321 SFProperty Features for 245 Gate City Hwy
General Information
- Property type
- Individual retail properties
- Square Feet
- 3,321 SF
- Class
- A
Building Details
- Year Built
- 2001
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agency: The Addington Agency Bristol Listing Agent: Garrett Addington
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 3,321 sq ft laundromat in Bristol, VA, presents a lucrative investment opportunity. Located on Gate City Hwy, across from the Hard Rock Casino, this Class A property boasts a prime location with high visibility and over 25 parking spaces. Built in 2001, the single-story building sits on a 0.43-acre lot (18,208 sq ft) and benefits from B3 zoning, allowing for diverse uses. Currently operating at 100% occupancy, this turnkey operation features remote monitoring capabilities, high-grade equipment, and multiple revenue streams including coin machines and the VA lottery. Recent upgrades include 12 solar panels, newer HVAC units, and LED lighting. The property's strong cash flow, coupled with its strategic location and potential for expansion (dry cleaning, retail, etc.), makes it an ideal investment. The asking price is $2,950,000, representing a 5.50% cap rate. This is a rare opportunity to acquire a thriving business in a high-growth area. All information is deemed reliable but subject to buyer verification.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Wash-A-Teria
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Washington
- State
- Virginia
- Longitude
- -82.2130522
- Latitude
- 36.5971199
Nearby Similar for Sale
FAQs
What type of property is this?
Individual retail property - Turnkey Laundromat, High ROI, Casino District
Where is this individual retail property located?
The property is located at 245 Gate City Hwy Bristol, VA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: $2,950,000 asking price for this Class A laundromat.; 3,321 square feet on a 0.43-acre lot (18,208 sq ft) with 25+ parking spaces.; Located near the Hard Rock Casino in Bristol, VA, with a high traffic count (9,200+ ADT).
