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    384 W Commonwealth Blvd Martinsville, VA 24112

    For Sale
    $700,000

    Land - Martinsville, VA

    Lot size:
    1.27 Acres
    Days on Market:
    97
    Last Refresh:
    Dec 7 at 1:06 pm

    Property Features for 384 W Commonwealth Blvd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.27 Acres

    Building Details

    Architectural style
    Other

    Berry-Elliott Realtors (276) 634-7657 [email protected]

    Listing agent Lindsey Godlove (276) 656-1111

    Listing date Sep 2, 2025

    MLS# 144674 Listing URL

    Copyright © 2025 Martinsville, Henry, Patrick Counties Association 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.

    Overview

    Pad-Ready Commercial Lot Opportunity

    This commercial lot is located in an Enterprise Zone and is prepped for public water, sewer, gas, and electric, with no tap fees required. An access road provides entry to the lot, ensuring visibility and accessibility for traffic heading both east and west. The surrounding area includes businesses such as Sheetz, Chick-fil-A, Starbucks, and Jersey Mike's. A hotel is located next door. The average traffic count is 19,000. The seller has pre-developed plans available for those considering a Zaxby's franchise, streamlining build-out. Zaxby's has previously approved this project; however, parties who are interested in pursuing building a Zaxby's franchise will need to obtain licensing application and final approval from Zaxby's. The lot size is 1.27 acres.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Gym & Fitness Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Martinsville
    State
    Virginia
    Longitude
    -79.8910542
    Latitude
    36.6980095

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    FAQs

    What type of property is this?
    Commercial land - High-traffic commercial lot, prepped for utilities, ideal for business.
    Where is this commercial land located?
    The property is located at 384 W Commonwealth Blvd Martinsville, VA.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: - High-traffic location with 19,000 average daily traffic count.; - Pad-ready lot with prepped utilities (water, sewer, gas, electric) and no tap fees.; - Located in an Enterprise Zone.
    (276) 656-1111
    Request Owner's contact information
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    Martinsville, VA 24112
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    Realmo Value Estimation

    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.

    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.

    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
    384 W Commonwealth Blvd Martinsville, VA 24112
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