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    10662 LEE JACKSON Hwy Big Island, VA 24526

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    For Sale
    $199,900

    Two-story brick building with flexible commercial and residential potential.

    Type:Commercial
    Added:
    Apr 26, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 26 at 12:53 am

    Property Features for 10662 LEE JACKSON Hwy

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1933

    We can help!

    Listing Contact
    Hope Metzger

    Listing agent Hope Metzger

    Listing office

    Listing date Apr 26, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Hope Metzger

    Overview

    C-2 Zoned Mixed-Use Opportunity

    This two-story brick building, zoned C-2, presents an opportunity for investment or mixed-use development. Overlooking Big Island, the property offers seasonal James River views and a Blue Ridge Mountain backdrop. The well-maintained building provides flexible use potential for commercial, office, or income-producing residential rental purposes. The spacious layout includes multiple large rooms suitable for offices, meeting spaces, or rental configurations, along with a sunroom/reception space and a main-level suite option. The upstairs area offers additional offices or rental rooms, maximizing flexibility. Underground storage adds convenience for tenants or business use. The property is suitable for short- or mid-term rentals, catering to nearby Georgia-Pacific mill contractors or traveling medical professionals, with four hospitals located within 35 miles. Recent improvements include a newer metal roof, HVAC system, water heater, 200-amp electrical service, and sump pump. Conveniently located near boat ramps, the Blue Ridge Parkway, and the Sedalia Center, it also provides easy access to Boonsboro and Bedford amenities. Access is provided via a right of way from Sunset Hill Road, ensuring convenient entry. This property offers an excellent opportunity for investors or business owners seeking a flexible commercial space with income potential.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Kitchen & Bath Showroom Food Market Grocery & Convenience Store Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Big Island
    County
    Bedford
    State
    Virginia
    Longitude
    -79.3595789
    Latitude
    37.5329711

    FAQs

    What type of property is this?
    Mixed-use property - Two-story brick building with flexible commercial and residential potential.
    Where is this mixed-use property located?
    The property is located at 10662 LEE JACKSON Hwy Big Island, VA.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: C‑2 Zoning allows for investment or mixed‑use possibilities.; Newer metal roof, HVAC, water heater, and 200‑amp electrical service provide modern reliability.; Ideal location for short/mid‑term rentals catering to Georgia‑Pacific contractors or traveling medical professionals.
    (434) 238-0149
    We can help!
    Listing Contact
    Hope Metzger
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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