Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23197 Governor Harrison Pkwy Lawrenceville, VA 23868

    View on Map
    Sponsored
    Pending
    $159,000

    Retail,Wholesale,Professional/Office,Business Service,Professional Service,Food Service,Medical

    Property size:
    1,709 SF
    Lot size:
    1.77 Acres
    Days on Market:
    26
    Last Refresh:
    Mar 25 at 12:06 pm

    Property Features for 23197 Governor Harrison Pkwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Exterior features
    Additional Buildings, Partially Fenced
    Fencing
    Fenced, Partial
    Size
    1,709 SF
    Lot size
    1.77 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2009
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Robin Whitman

    The Pointe Realty Group of Lake Gaston, LLC

    Listing agent Robin Whitman

    Listing date Feb 27, 2026

    MLS# 140070 Listing URL

    Copyright © 2026 Roanoke Valley Lake Gaston Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Building on Major Highway

    This versatile 1709 sq ft building features 8 offices, a lobby, a kitchen area, and 2 restrooms, providing ample space for various business needs. Situated on a 1.77-acre lot, the property offers room for potential expansion or outdoor activities. The property also includes an additional metal building and a metal carport structure in a fenced area. Located on a major highway, the building benefits from excellent visibility and easy access, making it suitable for attracting clients and customers. It is a 10-minute drive to Emporia, VA, and I-95, providing connectivity to surrounding areas and major transportation routes. This property is positioned for establishing a new business hub, expanding current operations, or investing in a flexible and strategically located property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon (Bike/Boat/Book/etc) Store Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lawrenceville
    County
    Brunswick
    State
    Virginia
    Longitude
    -77.7732786
    Latitude
    36.7795336

    Nearby Similar for Sale

    • $129,900
      1,196 SF

      Lawrenceville Office Building For Sale

      Well-maintained 1,196 SF commercial office building in Lawrenceville, VA.
      1676 Lawrenceville Plank Rd, Lawrenceville, VA 23868
      View Details
    • $314,900
      1,358 SF

      New Ranch Home Near I-85

      New 3-bedroom ranch on nearly 3 acres in Brunswick County.
      4522 Old Stage Rd, Lawrenceville, VA 23868
      View Details
    • $125,000
      4,800 SF

      Versatile Commercial Building in Lawrenceville

      Adaptable commercial building suitable for office, retail, or creative uses.
      112 Hicks St, Lawrenceville, VA 23868
      View Details
    • $329,900
      Pending

      New Farmhouse Design in Lawrenceville

      Move-in ready home with modern farmhouse design, convenient location.
      152 Silver Trail Cir, Lawrenceville, VA 23868
      View Details
    • $334,900
      1,358 SF

      New Construction Ranch on Acreage

      New 3-bedroom ranch on 1.5 acres, convenient location.
      4646 Old Stage Rd, Lawrenceville, VA 23868
      View Details

    FAQs

    What type of property is this?
    Retail space - Spacious building on 1.77 acres, ideal for various businesses.
    Where is this retail space located?
    The property is located at 23197 Governor Harrison Pkwy Lawrenceville, VA.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: - Excellent visibility and easy access due to major highway frontage.; - Spacious 1709 sq ft building featuring 8 offices, a lobby, kitchen, and 2 restrooms.; - Large 1.77-acre lot with potential for expansion.
    (434) 594-4457
    Request Owner's contact information
    23197 Governor Harrison Pkwy Lawrenceville, VA 23868
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23197 Governor Harrison Pkwy
    Lawrenceville, VA 23868
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23197 Governor Harrison Pkwy Lawrenceville, VA 23868
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robin Whitman
    Real Estate License ID: 254405
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!