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    1787 Lockett Rd Rice, VA 23966

    For Sale
    $275,000

    Spacious, modern commercial space in quiet location.

    Property size:
    2,904 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 2,904 square foot commercial building, constructed in 2020, is situated on a one-acre lot in the peaceful town of Rice, Virginia. Located beside a church used primarily for events, the property enjoys a tranquil and secluded setting, ideal for a variety of businesses. The building's recent use as a school highlights its suitability for office space, daycare centers, or other businesses requiring ample room. The interior features four large rooms, each with its own entrance, providing flexibility and privacy. Multiple-stall bathrooms are conveniently located for shared use. The building is equipped with a dual HVAC system ensuring comfortable climate control year-round, and abundant natural lighting creates a bright and welcoming atmosphere. Ample parking is available on-site, catering to both employees and clients. Furthermore, the property is fully handicap accessible, ensuring inclusivity and convenience. Priced below its tax assessment, this nearly 3,000 square foot building offers significant value, representing a cost-effective alternative to new construction. Showings are by appointment only.

    Property Features for 1787 Lockett Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    2,904 SF
    Lot Size
    43,560 SF

    Building Details

    Year Built
    2020
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Spa & Massage Gym & Fitness Skin Care Clinic Home Appliance Store Acupuncture

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

    Location Insight

    • Map
    • Local Demand
    City
    Rice
    County
    Prince Edward
    State
    Virginia
    Longitude
    -78.28828
    Latitude
    37.29911

    Nearby Comparable

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      13.8 acres with highway frontage, ideal for commercial ventures.
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    FAQs

    What type of property is this?
    Commercial real estate - Spacious, modern commercial space in quiet location.
    Where is this commercial real estate located?
    The property is located at 1787 Lockett Rd Rice, VA.
    What is the asking price?
    The asking price for this property is $275,000.
    (434) 395-1225
    Request Owner's contact information
    1787 Lockett Rd Rice, VA 23966
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    Rice, VA 23966
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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
    1787 Lockett Rd Rice, VA 23966
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