Downtown Blacksburg is what you would expect I guess in a small college town, lots of restaurants and bars.
Tech does have the Moss Arts Center so (normally) there would be different shows that you could see there and various exhibits. If there are extra tickets there is a text message thing you can sign up for that allows them to notify you. They normally give away extra tickets for the shows. The school itself did bring in a few artists in fall semester for a free show for students. It was Anderson Paak, Fitz and the Tantrums, and someone else, but I can't recall.
Christainsburg has a Walmart, Target, Best Buy etc. but no Costco or Sam's club. Sam's Club and Costco can be found in like the Salem or Roanoake area. The Walmart is fairly easy to get to by bus, iirc there is a bus that runs to it.
The music here is not really to my taste, so I tend to travel for that. I tend to have to travel to much bigger cities, but I have always been willing to travel to shows if I was excited about it. I drove from the LA area to Las Vegas a few times for random shows.