2537 4Th AveBig Stone Gap, VA 24219

Property Details for 2537 4Th Ave

Year built

1975

Construction

WOOD

Property size (Sq ft)

14,308 SF

Property type

Office buildings

APN

R015871

APU

R015871

Description

This exceptional 14,307 square foot mixed-use building in Big Stone Gap, Virginia, presents a compelling investment opportunity. Situated on a 0.61-acre lot, this three-story Class B building boasts a prime location across from the Frontier Health Independence Center and near local schools. Currently configured with a ground floor podiatry practice (equipment potentially included in sale), a vacant second floor (suitable for various uses), and a fully equipped third-floor fitness center (included in sale), this property offers significant flexibility. The building features six bathrooms (two with showers), a concrete vault with a steel door, two stairwells, and four entry/exit points. Additional amenities include three-phase power, ground floor heat pumps, a metal roof, brick exterior, and ample paved parking. The building is zoned B-1 and is outside Big Stone Gap town limits. With 100% occupancy and a price of $1,144,560 ($81.75/sq ft, $26,385/acre), this property is ideal for owner-users seeking to expand their existing medical practice, or for investors looking for a versatile commercial space. Potential uses include a medical clinic with added physical therapy, a community center, an educational or training facility, a faith-based organization, or an event space. The property's size, location, and existing infrastructure make it a highly attractive investment. The attached floor plan provides further detail on the building's layout.

• CAP approach

  CAP return

  Valuation

  6%

  $3,069,450

  6.5%

  $2,833,340

  7%

  $2,630,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,185,900

  Geo Method

  $1,177,980

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,722,630

  Retail / Commercial

  $2,906,260

  Mixed-Use / Specialty

  $2,873,620

  Hospitality / Lodging

  $2,079,280

  Institutional / Educational

  $2,979,440

  Residential Income

  $3,485,950

  Multifamily

  $4,304,380

  Automotive / Energy

  $2,553,810

  Parking / Income-Based Land

  $903,301

  Restaurant / Food Service

  $1,447,040

  Healthcare / Senior Housing

  $2,969,690

Location Insight

City

Big Stone Gap

County

Wise

State

Virginia

Latitude

36.8819

Longitude

-82.7477

CBSA code

13720

CBSA name

BIG STONE GAP, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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