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    124-138 Cedar Gate Rd Monroe, VA 24574

    For Sale
    $299,000

    High-visibility Rt. 29 location, redevelopment potential.

    Property size:
    4,424 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional commercial property, encompassing two tax parcels at 124 and 138 Cedar Gate Road in Monroe, Virginia, presents a unique redevelopment opportunity. Situated on a highly visible section of Route 29, this 2.2-acre lot offers unparalleled access and exposure. The combined 4,424 square feet of land is currently zoned for a diverse range of commercial uses, including medical facilities, office spaces, retail stores, daycare centers, car washes, and breweries, among others. A convenient cut-through, deceleration lane, and turn-in from Route 29 ensure easy ingress and egress for customers and employees. The property is serviced by public water and a septic system. Adding to its versatility, there's potential for rezoning to accommodate single-family residential or duplex development. This presents a flexible investment opportunity for developers seeking a high-traffic location with significant potential for diverse uses. The parcels are available for purchase individually or as a single combined property, providing buyers with options to suit their specific needs and investment strategies. This prime location and flexible zoning make this an exceptional opportunity for a variety of commercial or residential ventures.

    Property Features for 124-138 Cedar Gate Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,424 SF
    Lot Size
    95,832 SF

    Building Details

    Year Built
    1924
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Food Market Garden Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Amherst
    State
    Virginia
    Longitude
    -79.12617
    Latitude
    37.4959

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    FAQs

    What type of property is this?
    Commercial real estate - High-visibility Rt. 29 location, redevelopment potential.
    Where is this commercial real estate located?
    The property is located at 124-138 Cedar Gate Rd Monroe, VA.
    What is the asking price?
    The asking price for this property is $299,000.
    (434) 455-2285
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    124-138 Cedar Gate Rd Monroe, VA 24574
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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
    124-138 Cedar Gate Rd Monroe, VA 24574
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