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Property profile

2448 Lake Monticello Rd Palmyra, VA 22963

OFF-MARKET
Commercial real estate
Property ID
US87-3778967
34.94 ac lot
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Property summary

AI-generated overview

This exceptional 34.94-acre commercial land parcel presents a rare investment opportunity in Palmyra, VA. Located near Lake Monticello, this property comprises six contiguous parcels, strategically positioned within a thriving residential community. The existing zoning allows for a wide range of commercial developments, making it ideal for projects such as medical facilities, grocery stores, or retail establishments. The area experiences significant residential and tourist traffic, ensuring a robust customer base for any new business. The property's significant advantage lies in its pre-existing water and power infrastructure, significantly reducing development time and costs. This streamlined approach allows for a quicker return on investment. The site's proximity to Lake Monticello's beaches and community amenities further enhances its appeal, offering both convenience and a desirable location for businesses. This is a unique chance to capitalize on the growing demand for commercial services in this vibrant community, offering substantial potential for long-term growth and profitability. The property is priced at $4,250,000 and presents a compelling opportunity for developers seeking a prime location with established infrastructure. Don't miss this chance to secure a piece of Palmyra's burgeoning commercial landscape.

Property profile

Verified
Property type Commercial real estate
Lot 34.94 ac (1,521,986 SF)
UPID US87-3778967

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2448 Lake Monticello Rd Palmyra, VA 22963
Palmyra metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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