245 Gate City HwyBristol, VA 24201

Property Details for 245 Gate City Hwy

Year built

2001

Lot size

0.42 AC

Property size (Sq ft)

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.

• Alternative Use

  Use

  Valuation

  Residential

  $733,538

  Hospitality

  $671,916

  Educational

  $559,027

  Medical

  $578,252

  Retail

  $869,597

Location Insight

City

Bristol

County

Bristol

State

Virginia

Latitude

36.5971

Longitude

-82.213

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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