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245 Gate City Highway, Bristol, VA 24201

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For Sale

$2,500,000

3,321 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Other Residential
    Property type

  • $752.79
    Price per square foot

  • 21-30 Years Old
    Age

Explore this Property

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.
MLS# 9967362

Courtesy Of The Addington Agency Bristol

(423) 845-5800

Property Features

  • Age
    21-30 Years Old
  • Exterior Type
    Block
  • Lot Size
    0.42 Acres

Map and Directions

Directions to 245 Gate City Highway, Bristol, VA 24201

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Copyright © 2025 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.