2448 Lake Monticello Rd Palmyra, VA 22963
This exceptional 34.94-acre commercial land parcel presents a rare development opportunity in Palmyra, Virginia. Located at 2448 Lake Monticello Rd, this property consists of six contiguous parcels (APN: 9-A-11, 9-A-11B, 9-A-11C, 9-A-11D, 9-A-11F, 9-A-11G) and is zoned B-1, allowing for a variety of commercial uses. Its prime location within the thriving Lake Monticello community offers significant advantages, including proximity to residential areas, lake amenities, and high traffic volume. The site is well-suited for projects such as medical facilities, grocery stores, or retail establishments, catering to the growing needs of both residents and visitors. Existing infrastructure, including water and power, simplifies the development process, reducing upfront costs and accelerating project timelines. This strategic location and substantial acreage provide immense potential for significant return on investment. The property's proximity to scenic lake beaches and community amenities further enhances its appeal and desirability. This is a unique opportunity to capitalize on the area's growth and establish a thriving commercial presence in a vibrant community. The asking price for this exceptional property is $4,250,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.