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$1 Auction – Former BB&T Bank | 3 Drive-Thru 335 Front st 6,812 SF Retail Building Coeburn, VA 24230 $100,000 ($14.68/SF)
INVESTMENT HIGHLIGHTS
- ABSOLUTE $1 AUCTION | Former BB&T Bank | 3 Drive-Thru Lanes | AUCTION DECEMBER 15-17
- Strategic Frontage and Visibility on Front St E with Traffic Counts of 3,392 VPD and 2nd St NE with 2,314 VPD
- Located in Retail Corridor Directly Across from City Hall, USPS, Priceless IGA, Family Dollar, Subway, and Dense Residential
- Freestanding Former BB&T Bank on 0.58 Acre Site with 3 Drive-Thru Lanes
- Attractive Demographics with ±23,811 People and $53,214 Average Household Income within a 10-Mile Radius
- Zoned C-1, Community Business District with a Variety of Commercial Uses
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present a vacant, free-standing, former BB&T Bank located at 335 Front Street SE in Coeburn, VA 24230 (the “Property”). The Property improvements consist of approximately 6,812 square feet of gross building area and features a large surface parking lot with approximately 25 spaces. The Property is currently vacant and was previously owner-occupied by Truist Bank (BB&T). The Property offers potential owner users/investors the ability to acquire a free-standing retail bank building with significant value add through lease up at long term market rates (CoStar estimated retail rents of $13-14/SF NNN). The Property is strategically positioned on a ±0.58-acre (±25,278 SF) hard corner parcel across from Coeburn City Hall and is improved with a retail/office building with three (3) drive-thru lanes. This former bank is easily accessible via three points of ingress/egress along Front Street E (±3,392 VPD), 2nd Street NE with traffic counts of 2,314 VPD, and Centre Avenue NE. The Property is Zoned C-1, Community Business District, which offers favorable flexible zoning allowing for a variety of commercial and retail uses via adaptive reuse or repositioning.
Coeburn is located in Wise County in southwest Virginia along U.S.?Route?58 and nestled within the Appalachian foothills, offering regional access to the Interstate?81 corridor and the Tennessee-Virginia border. The Property is located within an attractive trade area of ±23,811 residents with an average household income (AHHI) of ±$53,214 within a 5-mile radius, reinforcing the site’s lasting appeal for both investors and owner/users.
Coeburn is located in Wise County in southwest Virginia along U.S.?Route?58 and nestled within the Appalachian foothills, offering regional access to the Interstate?81 corridor and the Tennessee-Virginia border. The Property is located within an attractive trade area of ±23,811 residents with an average household income (AHHI) of ±$53,214 within a 5-mile radius, reinforcing the site’s lasting appeal for both investors and owner/users.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Bank
Building Size
6,812 SF
Building Class
C
Year Built
1980
Price
$100,000
Price Per SF
$14.68
Tenancy
Single
Building Height
2 Stories
Building FAR
0.54
Lot Size
0.29 AC
Parking
25 Spaces (3.67 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Banking
- Security System
- Signage
- Drive Thru
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $496,300 | |
| Land Assessment | $115,900 | Total Assessment | $612,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$115,900
Improvements Assessment
$496,300
Total Assessment
$612,200
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$1 Auction – Former BB&T Bank | 3 Drive-Thru | 335 Front st
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