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Office Building with Three Suites
For Sale
Contact for pricing

2987 Lake Monticello Rd, Palmyra, VA 22963

Repainted interiors, updated lower-level carpeting, and a resurfaced parking lot support a refreshed office setting.

Property SizeContact for details
Days on Market144

Property Features for 2987 Lake Monticello Rd

General Information

Standard status Active
Property subtype Office, Retail

Additional Details

Utilities to Site Yes

Building Details

Buildings 1
Listing Agency: Real Estate III Commercial Properties
Listed By: Bill Howard · License #VA 0225107609
Source: Crexi
Added: Apr 11 Changed: Aug 31 Last Checked: Aug 30 at 4:27PM

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 Real Estate III Commercial Properties

Investment Insights

Based on property information with market context.

This office building offers a configuration that could accommodate 3 separate office suites. The property previously operated as a dental practice and includes numerous windows that bring natural light into the interior. Recent improvements include repainting throughout the building, new carpet in the lower level, exterior re-staining, and resurfacing of the parking lot.

The sale also includes the adjacent parcel identified as Map ID# 9A 15 B. That parcel contains 1.355 acres and is zoned A-1. Public water and sewer service is provided by Aqua Virginia.

Key Highlights

  • Potential configuration for 3 separate office suites
  • 1.355‑acre adjacent parcel included in the sale
  • Adjacent parcel zoned A‑1

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Law Firm Restaurant Spa & Massage Center Auto Repair Shop Building Supply Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes
Utilities to site

Location Intelligence

Trade Area within ½ mile

123
Businesses Nearby

Demographics for 22963, VA

16,279
Population
7,107
Households
2.3
Avg Household Size
45
Median Age
42%
College-Educated
98%
High-School Grad
124.7 sq mi
ZIP Area
131
Density / Sq Mi
$100,761
Median Household Income
$48,247
Median Earnings
$1,419
Median Rent
$294,600
Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019
16.4% 2020
17.3% 2021
18% 2022
18.6% 2023
20.3% 2024
20.2% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office building - Repainted interiors, updated lower-level carpeting, and a resurfaced parking lot support a refreshed office setting.
Where is this office building located?
The property is located at 2987 Lake Monticello Rd Palmyra, VA.
What are key features of this property?
This property features: Potential configuration for 3 separate office suites; 1.355‑acre adjacent parcel included in the sale; Adjacent parcel zoned A‑1
More about this property
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