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    7002 George Washington Memorial Hwy Gloucester, VA 23061

    For Sale
    $350,000

    High-Visibility Office Building, 1вЃ„2 Acre Lot

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    314
    This exceptional commercial property, located at 7002 George Washington Memorial Highway in Gloucester, VA, presents a unique investment opportunity. Situated on a 0.52-acre lot, this building boasts unparalleled visibility on a major thoroughfare, Route 17, with an impressive average daily traffic count of approximately 40,000 vehicles. Its strategic location places it within one mile of prominent retailers such as Walmart, Home Depot, and Lowe's, ensuring high foot traffic and convenient access for potential clients. The property is zoned B-1, allowing for a diverse range of commercial uses, including but not limited to attorney's offices, daycare centers, and medical practices. The building itself offers significant advantages, including an elevated, digital display sign, maximizing exposure and brand recognition. This feature, combined with the high traffic volume and proximity to Gloucester Courthouse, creates an ideal setting for businesses seeking maximum visibility and accessibility. The property's versatility and prime location make it an exceptional investment opportunity for entrepreneurs and businesses seeking to establish a strong presence in a thriving community. The asking price is $350,000.

    Property Features for 7002 George Washington Memorial Hwy

    General Information

    Property type
    Other commercial real estate
    Lot Size
    22,651 SF

    Building Details

    Year Built
    1965
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Building Supply Spa & Massage Hair Salon Auto Repair Shop Wholesale Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gloucester
    County
    GLOUCESTER COUNTY
    State
    Virginia
    Longitude
    -76.53016
    Latitude
    37.39206

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    FAQs

    What type of property is this?
    Commercial real estate - High-Visibility Office Building, 1вЃ„2 Acre Lot
    Where is this commercial real estate located?
    The property is located at 7002 George Washington Memorial Hwy Gloucester, VA.
    What is the asking price?
    The asking price for this property is $350,000.
    (757) 253-7600
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    7002 George Washington Memorial Hwy Gloucester, VA 23061
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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
    7002 George Washington Memorial Hwy Gloucester, VA 23061
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