1. Virginia
  2. Bristol
  3. 245 Gate City Highway
$2,500,000

245 Gate City Highway, Bristol, VA 24201

  • 3,321 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 2001
  • Property Lot Size Icon0.42acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $753/sqft
  • Property List Date Icon Listed 1 year ago

Property Description

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; prop erties 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.

Listing Status:
Active
Date Added:
June 18, 2024 at 05:00AM
Listing Office:
The Addington Agency Bristol : 423-845-5800
Listing Agent:
Garrett Addington : 423-646-1060
MLS ID:
9967362
  • A/C: Heat Pump
  • Heating: Heat Pump

This listing courtesy of Garrett Addington, The Addington Agency Bristol

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Stonewall Jackson Elementary School

2045 Euclid Ave, Bristol, VA, 24201

Grades PK-5

0.31 miles away

V

Virginia Middle School

501 Piedmont Ave, Bristol, VA, 24201

Grades 6-8

1.73 miles away

V

Virginia High School

1200 Long Crescent Dr, Bristol, VA, 24201

Grades 9-12

2.20 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.