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    Pennington Gap, VA
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    Pennington Gap, VA Residential Income Properties for Sale

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    Saint Charles, VA Jonesville, VA Dryden, VA
    Commercial Property with Apartment
    $130,000
    2,000 SF
    Commercial Property with Apartment

    5239 Us Hwy 421, Pennington Gap, VA 24277

    Versatile commercial building with apartment on a half-acre lot.
    • Mixed‑use property with commercial space and a 2‑bedroom apartment
    • Half‑acre lot with secondary water and sewer hookups for expansion
    • Two spacious garage bays with rear storage rooms suitable for workshop or storage
    • Apartment has updated electrical and separate meter
    • Durable metal roof
    Updated: Jul 10, 2025
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    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 1 Active listings in Pennington Gap, VA, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Income-Producing Mobile Home Park
    $299,900
    6.80 Acres
    Income-Producing Mobile Home Park

    Mobile home park with expansion potential in Big Stone Gap.

    345 S Hamblen Street, Big Stone Gap, VA 24219

    View details
    Mixed-Use Investment Opportunity
    $149,000
    0.20 Acres
    Mixed-Use Investment Opportunity

    Cash-flowing property with commercial space and apartments near amenities.

    201 S 5th Street, Big Stone Gap, VA 24219

    View details
    Mixed-Use Property in Appalachia, VA
    $115,000
    7,164 SF
    Mixed-Use Property in Appalachia, VA

    Commercial and residential spaces with rental income potential in Appalachia.

    106 Kentucky Avenue, Appalachia, VA 24216

    View details
    Residential Property on Double Lot
    $65,000
    1,100 SF
    Residential Property on Double Lot

    Derby

    1822 Derby Rd, Appalachia, VA 24216

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Wooded Acreage in Pennington Gap
    $59,000
    7.27 Acres
    Wooded Acreage in Pennington Gap

    7.27 acres of secluded, wooded land near Pennington Gap.

    Melzoni Road, Pennington Gap, VA 24277

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    Wooded Acreage Near Pennington Gap
    $135,000
    100.60 Acres
    Wooded Acreage Near Pennington Gap

    100.6 acres of wooded land, 10 minutes from Pennington Gap.

    Ely Pucketts Creek Road, Pennington Gap, VA 24277

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    Residential Lot in Jonesville, VA
    Contact for pricing
    0.16 Acres
    Residential Lot in Jonesville, VA

    Level residential lot ready for building with public utilities.

    603 Town Branch Road, Jonesville, VA 24263

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    30 Acres Hunting Land
    $139,000
    1,306,800 SF
    30 Acres Hunting Land

    30 acres of land with seasonal creek and wildlife.

    600 Flower Gap Road, Blackwater, VA 24221

    View details

    Pennington Gap, VA Residential Income Properties Market Trends and Statistics

    Explore 1 residential income properties for sale in Pennington Gap, VA on our real estate platform. These investment opportunities span a total of 2,000 square feet of properties for sale, with an estimated market value of $130,000.

    Sale prices for residential income properties in Pennington Gap, VA start at $130,000, averaging $130,000, and reaching up to $130,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Single family properties 1

    Demographics Overview

    Population 6,379
    Population Growth (5Y) -6.9%
    Median Household Income $33,102
    College Educated 11.0%

    High-Yield Neighborhoods for Investment

    Identify Pennington Gap submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    24277 $130K

    Taxes & Financing

    Tax Rate (average for all types) 2.09%
    Tax Rate vs County Average 0.24 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Lee County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Lee County

    Residential Income

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