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    15856 Porterfield Hwy Abingdon, VA 24210

    Sponsored
    For Sale
    $599,000

    Prime Abingdon location, 7,526 sq ft, vacant.

    Property size:
    7,526 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, formerly Statzer's Cafeteria, presents a unique investment opportunity in Abingdon, Virginia. Located at 15856 Porterfield Hwy (APN 44670), this 7,526 square foot building sits on a 0.64-acre lot and boasts a prime corner location with excellent visibility and high traffic counts. The property benefits from its position on Highway 58, a major state highway leading to several Southwest Virginia towns, and its proximity to Abingdon Elementary School and several large churches, ensuring consistent traffic flow. Built in 1967 and renovated in 2015, the building features a single story, with 10-14 foot ceilings, and is zoned B-2, allowing for a variety of uses. Previously utilized as a cafeteria and other commercial ventures, this well-built structure offers flexibility for various businesses. The asking price is $599,000, translating to a land value of $79.59 per square foot. The property is offered fee simple and is currently vacant, presenting a blank canvas for a discerning buyer. This is an owner-user investment opportunity with a multi-unit tenancy. The building's adaptable layout and strategic location make it an ideal choice for entrepreneurs seeking high visibility and strong traffic patterns. This is a rare opportunity to acquire a well-situated commercial property in a thriving community.

    Property Features for 15856 Porterfield Hwy

    General Information

    Property type
    Restaurants
    Square Feet
    7,526 SF
    Class
    B
    Lot Size
    27,878 SF

    Building Details

    Year Built/Renovated
    1967/2015
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Price: $599,000.
    • Unit Price: $79.59 per square foot.
    • Sale Terms: Undisclosed.
    • Last Updated: January 19, 2022.
    • Building Size: 7,526 square feet.
    • Lot Size: 0.64 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Abingdon
    County
    Washington
    State
    Virginia
    Longitude
    -82.01333227
    Latitude
    36.72098584

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    FAQs

    What type of property is this?
    Restaurant - Prime Abingdon location, 7,526 sq ft, vacant.
    Where is this restaurant located?
    The property is located at 15856 Porterfield Hwy Abingdon, VA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Price: $599,000.; Unit Price: $79.59 per square foot.; Sale Terms: Undisclosed.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    15856 Porterfield Hwy Abingdon, VA 24210
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