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    1027 Waterwheel Dr Moneta, VA 24121

    For Sale
    $1,250,000

    Smith Mountain Lake medical office building

    Property size:
    3,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use property, located at 1027 Waterwheel Dr, Moneta, VA 24121, presents a unique investment opportunity. The 3,200 square foot, two-story building sits on a 0.64-acre lot and is currently vacant. Boasting a prime location on Smith Mountain Lake's major commercial corridor, just off Rt 122, the property offers convenient access to Bedford and Franklin Counties. The building features ground-level access to both floors and includes a valuable boat dock with four covered slips. With 14 parking spaces (4.6 per 1,000 square feet), the property is zoned PCD, allowing for a variety of uses, including short-term rentals. The asking price is $1,250,000, translating to $390.62 per square foot. Enjoy stunning lake and mountain views, along with proximity to local amenities such as grocery stores, retail shops, and restaurants. This property offers significant potential for a variety of commercial ventures. The APN is 232 6 1.

    Property Features for 1027 Waterwheel Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,200 SF
    Class
    B
    Lot Size
    27,878 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • $1,250,000 asking price for a vacant, 3,200 square foot medical office building.
    • Located in Moneta, VA, at 1027 Waterwheel Dr, on a 0.64‑acre lot.
    • Two‑story Class B building with 14 parking spaces.
    • Mixed‑use zoning (PCD) allows for multiple uses, including short‑term rentals.
    • Features a boat dock with four covered slips.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Spa & Massage Realty agency Hair Salon Clothing Store Gym & Fitness Hotel & Motel Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Moneta
    County
    Bedford
    State
    Virginia
    Longitude
    -79.661693700759
    Latitude
    37.148882303813

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    FAQs

    What type of property is this?
    Multifamily property - Smith Mountain Lake medical office building
    Where is this multifamily property located?
    The property is located at 1027 Waterwheel Dr Moneta, VA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: $1,250,000 asking price for a vacant, 3,200 square foot medical office building.; Located in Moneta, VA, at 1027 Waterwheel Dr, on a 0.64-acre lot.; Two-story Class B building with 14 parking spaces.
    Request Owner's contact information
    1027 Waterwheel Dr Moneta, VA 24121
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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
    1027 Waterwheel Dr Moneta, VA 24121
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