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114 West West Jackson Street
Gate City VA 24251
MLS #9992805 · Listing Courtesy of Greater Impact Realty Kingsport
$1,450,000
Active
24,345
Sq Ft
0.34
Acres
1906
Built
Property Description
Step into a rare opportunity with this landmark property, a 24,000+ sq. ft. building that stands as one of the largest and most prominent structures in historic Gate City. Spanning three impressive levels, this property offers unlimited potential for commercial, residential, or mixed-use ventures. Currently, the main and lower levels feature an exciting blend of entertainment and hospitality spaces, including a fully equipped restaurant and bar, a concert stage and dance floor perfect for live events, a comfortable lounge area, several vendor booths for retail opportunities and a large model race car track complete with its own refreshment bar, a one-of-a-kind local attraction. The building has brand new electric power including panels and meter, all brand new plumbing including water from the meter, new sewer line to Street, brand new air conditioning, facade restoration, brand new windows in rear of building and recently replaced front windows, seven brand new bathrooms, turnkey restaurant with liquor license covering 6,000 square feet, all restorations done within the last 2 years, 2200 ft owners apartment with three bedrooms and two baths, all restaurant equipment is 1 year old, instant hot water for entire building with electric backup tank. Owner is willing to sell a partial ownership with the idea of converting top two floors to a boutique hotel or Airbnb. Part of the second floor is unfinished and ready for the new owner's vision of office space or additional apartments. Newly installed large windows flood the space with natural light while framing breathtaking views of the surrounding mountains and the storied Gate City gap, known as the historic ''Gateway to the West'' once traveled by Daniel Boone. Significant updates include all new electrical wiring brought up to code, new recessed lighting and a new heat pump system for efficient climate control. Whether you envision a vibrant mixed-use destination, a boutique entertainment venue, or luxury loft residences, this building provides the space and location to make it happen. Endless potential meets historic charm -- right in the heart of Gate City.
Property Facts
Property TypeCommercial Sale
MLS Number9992805
City Taxes$624
County Taxes$1,514
Features & Amenities
220 Volts
Above Average Condition
Bar/Tavern/Lounge
Brick Exterior
Building Plan
Cable Connected
City Street
Delivery Doors
Dishwasher
Display Window
Electricity Connected
Fee Simple
Fiber Available
Floor Plan
Handicap Access
Heat Pump
Infrastructure In
Investment Analysis
License Included
Phase 3
Phone Connected
Professional/Office
Public Sewer
Public Water
Range
Refrigerator
Restaurant
Retail
Rolled/Hot Mop Roof
Sewer Connected
Stone Veneer Exterior
Water Connected
Directions
Take US-23 to Gate City and turn onto Kane St., travel on Kane St. into town and the building is on the west side of Jackson St. which is the ''main street'' into downtown Gate City.
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Additional Information
Contract InfoForeclosureNoDevelopment StatusSee RemarksYesEasementsNoneYesGeneral Property Description# Parking Spaces10# Restrooms7Annual Lease0HOANoLeaseNoLot Size79 x 173Road Frontage Length79Stories3Total Finished SqFt24,345Unfinished SqFt0ZoningCommInfo AvailableOtherYesSee RemarksYesLocation Tax Legal InfoComplex/Ind ParkTown of Gate City VaDeed Book #618Deed Page #1,396Lot #12RestrictionsSee RemarksYes
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