Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8426 Us Hwy 421 Pennington Gap, VA 24277-7037
    Back to Search
    Property profile & analytics

    8426 Us Hwy 421, Pennington Gap, VA 24277-7037

    View on Map
    • Turn key restaurants
    Off-Market
    Last Sale Feb 14, 2023
    Property ID
    US87-1834088
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 8426 Us Hwy 421

    Year built
    1999
    Property type
    Turn key restaurants
    APN
    22A-(7)-BK3,1-3
    APU
    22A7BK313

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 14, 2023 — Dry Creek Enterprises LLC Ricky Lynn Haynes Deed —
    Dec 15, 2020 $10,000 Ricky Lynn Haynes Jackie K Jackson Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pennington Gap
    County
    Lee
    State
    Virginia
    Longitude
    -83.4669
    Latitude
    36.6326

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $793
    $10,000
    $0.00
    $10,000
    -
    $10,000
    $0.00
    $10,000

    Comparable in this City

    • Value Estimation by Request
      0.91 Acres

      42357 Morgan Ave

      RESTAURANT
      42357 Morgan Ave, Pennington Gap, VA 24277-2258
      View Details
    • Value Estimation by Request
      0.25 Acres

      42331 Morgan Ave

      RESTAURANT
      42331 Morgan Ave, Pennington Gap, VA 24277-2258
      View Details
    • Value Estimation by Request

      42213 Morgan Ave

      CAR WASH
      42213 Morgan Ave, Pennington Gap, VA 24277
      View Details
    • Value Estimation by Request
      0.34 Acres

      7368 Us Hwy 421

      RETAIL STORES (PERSONAL SERVICES)
      7368 Us Hwy 421, Pennington Gap, VA 24277
      View Details
    • Value Estimation by Request
      0.11 Acres

      42164 Morgan Ave

      GAS STATION
      42164 Morgan Ave, Pennington Gap, VA 24277-3237
      View Details
    • Value Estimation by Request

      Pennington Gap, VA 24277

      REGIONAL SHOPPING CENTER, MALL
      Pennington Gap, VA 24277
      View Details

    Similar Nearby for Sale

    • $125,000
      Pending

      Pennington Gap Land For Sale

      6.61 acres of land in Pennington Gap, Virginia.
      231 Vfw Trl, Pennington Gap, VA 24277
      View Details
    • $130,000
      2,000 SF

      Commercial Property with Apartment

      Versatile commercial building with apartment on a half-acre lot.
      5239 Us Highway 421, Pennington Gap, VA 24277
      View Details
    • Contact for pricing
      Pending

      Residential Land in Pennington Gap

      Residential land available in Pennington Gap, Virginia.
      S Ford St, Pennington Gap, VA 24277
      View Details
    • $59,000
      7.27 Acres

      Wooded Acreage in Pennington Gap

      7.27 acres of secluded, wooded land near Pennington Gap.
      Melzoni Rd, Pennington Gap, VA 24277
      View Details
    • Contact for pricing
      0.23 Acres

      Pennington Gap Land For Sale

      Two residential lots available with town water and sewer.
      Harrell St, Pennington Gap, VA 24277
      View Details
    • $135,000
      100.60 Acres

      Wooded Acreage Near Pennington Gap

      100.6 acres of wooded land, 10 minutes from Pennington Gap.
      Ely Pucketts Creek Rd, Pennington Gap, VA 24277
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,712 SF

      Riverbend Shopping Center Retail Space

      Retail space in Riverbend Shopping Center, adjacent to Food City.
      930 E Morgan Ave, Pennington Gap, VA 24277
      View Details
    • $350,000
      10,800 SF

      Commercial Property with Dollar General

      1.77 acre lot with Dollar General tenant.
      231 Dollar Dr, Pennington Gap, VA 24277
      View Details
    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.
    8426 Us Hwy 421
    Pennington Gap, VA 24277-7037
    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
    8426 Us Hwy 421, Pennington Gap, VA, 24277
    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!