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    501 High Ave Coeburn, VA 24230

    For Sale
    $285,000

    7,722 SF, 7 Units, Owner Financing Available

    Property size:
    7,722 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional mixed-use property, located at 501 High Ave NE in Coeburn, Virginia, presents a unique investment opportunity. The three-story building, constructed in 1903, boasts a total of 7,722 square feet and comprises seven units. Currently vacant, this property offers significant potential for immediate income generation. The building includes six one-bedroom apartments, each with a bathroom, and a separate commercial space. Based on comparable properties, average monthly rent for the apartments is estimated between $600 and $800. The asking price is $285,000, translating to a price per square foot of $36.91. Conveniently situated in downtown Coeburn, the property enjoys a prime location next to the post office and across from the old railroad station, which may be undergoing future redevelopment. The property is also within an hour's drive of the Bristol Hard Rock Casino. For qualified buyers, owner financing is available with a $95,000 down payment, a $300,000 loan amount at a 6% interest rate, a 30-year amortization schedule, and a 5-year balloon payment. This presents a compelling opportunity to acquire a substantial mixed-use property in a desirable location with attractive financing options. The property is being sold as-is.

    Property Features for 501 High Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    7,722 SF

    Building Details

    Year Built
    1903
    Buildings
    1
    Stories
    3
    Units
    7

    HighLights

    • Three‑story building in Downtown Coeburn, VA.
    • Across the street from a former railroad station (potential redevelopment).
    • Adjacent to the post office.
    • One‑hour drive to the Bristol Hard Rock Casino.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Coeburn
    County
    Wise
    State
    Virginia
    Longitude
    -82.4648702
    Latitude
    36.9462458

    Nearby Comparable

    • $1,578,000
      8,400 SF

      202 Front St

      Retail properties • 8,400 SF
      202 Front St, Coeburn, VA 24230
      View Details
    • $1,491,750
      1.73 Acres

      NNN Retail Investment Opportunity

      Leased to Family Dollar with long-term renewal options.
      202 Front St, Coeburn, VA 24230
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    • $65,000
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      Coeburn Commercial Space: Turn-Key Salon

      Own Your Salon! Prime Coeburn Location.
      410 Quillen Ave, Coeburn, VA 24230
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    • $1,491,750
      8,400 SF

      NNN Retail Investment Opportunity

      Leased to Family Dollar with long-term renewal options.
      202 Front St, Coeburn, VA 24230
      View Details
    • $485,000

      Coeburn Historic Mixed-Use Building

      Three-story mixed-use building in historic downtown Coeburn, Virginia.
      501 Front St, Coeburn, VA 24230
      View Details

    Nearby Similar for Sale

    • $485,000

      Coeburn Historic Mixed-Use Building

      Three-story mixed-use building in historic downtown Coeburn, Virginia.
      501 Front St, Coeburn, VA 24230
      View Details
    • $1,491,750
      1.73 Acres

      NNN Retail Investment Opportunity

      Leased to Family Dollar with long-term renewal options.
      202 Front St, Coeburn, VA 24230
      View Details
    • $1,491,750
      8,400 SF

      NNN Retail Investment Opportunity

      Leased to Family Dollar with long-term renewal options.
      202 Front St, Coeburn, VA 24230
      View Details
    • $65,000
      640 SF

      Coeburn Commercial Space: Turn-Key Salon

      Own Your Salon! Prime Coeburn Location.
      410 Quillen Ave, Coeburn, VA 24230
      View Details
    • $1,578,000
      8,400 SF

      202 Front St

      Retail properties • 8,400 SF
      202 Front St, Coeburn, VA 24230
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 7,722 SF, 7 Units, Owner Financing Available
    Where is this mixed-use property located?
    The property is located at 501 High Ave Coeburn, VA.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: Three-story building in Downtown Coeburn, VA.; Across the street from a former railroad station (potential redevelopment).; Adjacent to the post office.
    Request Owner's contact information
    501 High Ave Coeburn, VA 24230
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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
    501 High Ave Coeburn, VA 24230
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