Building Details

Year built 1950

Listing Agency: United Country-Lambert Realty Show Phone

Listed By: Johnny Lambert Show Phone

Added: Jun 11 Changed: Aug 20 Last Checked: Aug 31 at 12:06PM

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MLS# 150275

Copyright © 2026 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.

Investment Insights

Based on property information with market context.

This mixed-use property combines a convenience store with an in-store café area, an existing gas station setup that is currently not selling fuel, residential accommodations, and a highway-front showroom with sales lot. The commercial building measures 2,115 square feet and is supported by 1.016 acres of land. The showroom and lot can accommodate automotive or equipment display, while the property also includes three apartments: one 3-bedroom, 1-bath unit and two 1-bedroom, 1-bath units.

A separate brick home adds a 2-bedroom, 1-bath residence with an enclosed porch and private driveway. The property fronts Rt. 58 at 43 Old Well Rd in Spencer, Virginia, providing direct highway exposure. Built in 1950, the site brings together commercial and residential improvements in a single property.

Key Highlights

• 1.016‑acre mixed‑use property with 2,115 square feet of commercial building area
• Convenience store with in‑store café area and existing gas station infrastructure; fuel is not currently sold
• Three apartments: one 3BR/1BA unit and two 1BR/1BA units

Property Analytics

Property Profile

Current Use

Gas stations

Suggested Use

Top Pick Auto Parts Store Grocery & Convenience Store Auto Repair Shop Hair Salon Nail Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 24165, VA

1,655

Population

731

Households

2.3

Avg Household Size

49

Median Age

8%

College-Educated

85%

High-School Grad

40.8 sq mi

ZIP Area

41

Density / Sq Mi

$62,206

Median Household Income

$36,533

Median Earnings

$1,091

Median Rent

$150,400

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial site combining convenience retail, residential units, a separate home, and highway-facing showroom space.

Where is this mixed-use property located?

The property is located at 43 Old Well Rd Spencer, VA.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 1.016‑acre mixed‑use property with 2,115 square feet of commercial building area; Convenience store with in‑store café area and existing gas station infrastructure; fuel is not currently sold; Three apartments: one 3BR/1BA unit and two 1BR/1BA units