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    101 Crofton Plz Palmyra, VA

    For Sale
    $8,900,000

    Retail/office space with future development opportunity near Lake Monticello.

    Property size:
    55,284 SF
    Lot size:
    17.56 Acres

    Property Features for 101 Crofton Plz

    General Information

    Size
    55,284 SF
    Lot size
    17.56 Acres

    Source: R.E. III Commercial Properties Agent William L. Howard, CCIM

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

    Overview

    Established Retail Plaza with Development Potential

    Crofton Plaza, adjacent to the main entrance of Lake Monticello, features over 55,000 square feet of retail and office space available for lease. Developed starting in 1993 by a local family, the plaza has maintained low vacancy rates over the past 10 years and is currently locally owned and managed. The property encompasses more than 17 acres, including 4 acres designated for future development. Crofton Plaza is the current home for Ace Hardware.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Hair Salon Auto Repair Shop Clothing Store Nail Salon Garden Center Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Fluvanna
    State
    Virginia
    Longitude
    -78.2633426
    Latitude
    37.8609872

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    FAQs

    What type of property is this?
    Shopping center - Retail/office space with future development opportunity near Lake Monticello.
    Where is this shopping center located?
    The property is located at 101 Crofton Plz Palmyra, VA.
    What is the asking price?
    The asking price for this property is $8,900,000.
    What are key features of this property?
    This property features: - Established retail/office space with a history of low vacancy rates over the past 10 years.; - Prime location next to the main entrance of Lake Monticello.; - Substantial size: over 55,000 sq ft of retail/office space.
    (434) 906-1240
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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
    101 Crofton Plz Palmyra, VA
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