245 Gate City Hwy Bristol, VA 24201
- Commercial real estate
- 3,321 SF
- 0.42 lot acres
Current Use by Public Records
- Wash-A-Teria / Laundromat / Laundry
Property Details for 245 Gate City Hwy
- Year built
- 2001
- Lot size
- 0.42 lot acres
- Property size
- 3,321 SF
- Property type
- Commercial real estate
- APN
- 33 2 1 4A
- APU
- 33214A
Description
This exceptional commercial property, located at 245 Gate City Highway in Bristol, VA, presents a lucrative investment opportunity. Situated on 0.42 acres of land at a signalized intersection directly across from the Hard Rock Casino, this high-visibility location boasts over 3,321 square feet of versatile commercial space and 25+ parking spaces. The property features over 140 feet of road frontage on Gate City Highway, benefiting from an impressive average daily traffic count exceeding 9,200 vehicles. Zoned B3, this flexible zoning allows for a wide range of commercial uses. The existing building, custom-built in 2001, has been meticulously maintained and operated as a thriving business for over 20 years. Equipped with state-of-the-art features including 12 high-grade solar panels, 3-phase power, LED lighting, two newer HVAC units, and a 6-inch drain line, the property offers significant operational efficiencies. Additional revenue streams are generated from vending machines, coin machines, and the Virginia Lottery. The property also includes advanced security features such as 24-hour remote monitoring and individual utility cutoffs. This turnkey operation offers immediate cash flow potential and significant long-term appreciation, making it a rare opportunity in the highly sought-after casino district. The asking price is $2,750,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Bristol
- State
- Virginia
- Longitude
- -82.213
- Latitude
- 36.5971
- CBSA code
- 28700
- CBSA name
- KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA
