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    110 Merifield Rd Willis, VA 24380

    For Sale
    $179,000

    Cash-flowing rental property, two units.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This Willis, VA commercial property presents a compelling investment opportunity. The property, located at 110 Merifield Road, comprises a remodeled and updated two-unit building totaling approximately 2,088 square feet on a 0.14-acre lot. Recent renovations, completed in 2022 for the interior and 2021 for the exterior, ensure the property is in excellent condition. A larger well pump was installed in 2023, enhancing the property's functionality. Each unit has its own heating and air conditioning system. The lower unit features one bedroom and one bathroom, along with an enclosed rear porch. The upper unit offers two bedrooms and one bathroom. Currently occupied by month-to-month tenants willing to remain, this property boasts a proven track record of consistent cash flow, generating approximately $24,600 annually. Its convenient location offers easy access to Floyd and Hillsville, Virginia, within a 30-minute drive. This is an ideal investment for those seeking a stable, cash-positive rental property with recent upgrades and a strong tenant base. The asking price is $179,000.

    Property Features for 110 Merifield Rd

    General Information

    Property type
    Other commercial real estate
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1975
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Auto Repair Shop Auto Parts Store Food Market Storage Facility Grocery Store Convenience Store Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Willis
    County
    Floyd
    State
    Virginia
    Longitude
    -80.48516
    Latitude
    36.8567

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    Nearby Similar for Sale

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    • $189,000
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    FAQs

    What type of property is this?
    Commercial real estate - Cash-flowing rental property, two units.
    Where is this commercial real estate located?
    The property is located at 110 Merifield Rd Willis, VA.
    What is the asking price?
    The asking price for this property is $179,000.
    (540) 745-2005
    Request Owner's contact information
    110 Merifield Rd Willis, VA 24380
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    Willis, VA 24380
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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
    110 Merifield Rd Willis, VA 24380
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