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245 Gate City Hwy 245 Gate City Hwy 3,321 SF 100% Leased Retail Building Bristol, VA 24201 $3,489,800 CAD ($1,050.83 CAD/SF)
INVESTMENT HIGHLIGHTS
- ATDC of 9,200+
- Turn-key Operation
- 25+ Parking Spaces
EXECUTIVE SUMMARY
Looking for a lucrative business opportunity in the heart of Bristol? Don't miss this one! First time ever listed on the market, this turnkey operation has proven to be a high-yield investment with significant potential for growth. Strategically positioned at a signalized intersection across from Hard Rock Casino, this blank canvas features over 3,300 sq ft of versatile commercial space, 0.43 acres of prime real estate, 25+ parking spaces, and over 140' of road frontage on Gate City Hwy, highlighted by an ADTC of 9,200+. The high visibility and exposure offer endless possibilities! Zoned B3, this flexible zoning code allows for a myriad of uses that could capitalize this one of one location. Promoting tons of notoriety, this local staple has been a thriving business in the community for over 40+ years with over 20+ years in their current building that was custom built in 2001! Immaculately maintained with streamlined operations, the current owner has perfected the process with low staffing, 24-hour operations, remote monitoring capabilities via high-grade surveillance, top-of-the-line equipment, and easy access controls, each with individual cutoffs for electricity and water. Additional essential products include coin exchangers, credit card swipers, and vending machines to enhance the customer experience. Maximizing efficiency with 12 high-grade solar panels, this property is equipped with 3-phase power, LED lighting, (2) newer HVAC units, 6'' drain line, and many other improvements implemented over the years. Additional revenue streams include the VA lottery, coin machines, and the potential to expand the commercial side of the business with services like dry cleaning, delivery, retail goods, and more. This is a rare opportunity to enjoy immediate cash flow while benefiting from long-term appreciation of the site. Whether you aim to continue the successful operations of ''The Washateria'', or whether you're looking to redevelop this highly sought after site; properties in the casino district rarely come available and this one will not last long priced to sell at $2.5M. Call today to schedule your showing! All information contained herein is deemed reliable but gathered from tax records and homeowner and is subject to buyers verification.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
3,321 SF
Year Built
2001
Price
$3,489,800 CAD
Price Per SF
$1,050.83 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.18
Lot Size
0.42 AC
Opportunity Zone
Yes
Zoning
B3
Parking
25 Spaces (7.53 Spaces per 1,000 SF Leased)
Frontage
140’ on Gate City Hwy
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 33-2-1-4A | Improvements Assessment | $251,098 CAD |
| Land Assessment | $383,388 CAD | Total Assessment | $634,485 CAD |
PROPERTY TAXES
Parcel Number
33-2-1-4A
Land Assessment
$383,388 CAD
Improvements Assessment
$251,098 CAD
Total Assessment
$634,485 CAD
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245 Gate City Hwy | 245 Gate City Hwy
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