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    2010 Spruce St Martinsville, VA 24112

    Sponsored
    For Sale
    $355,000

    124 Acres, Public Utilities, Breathtaking Views

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 124.82-acre commercial and industrial land parcel presents a unique development opportunity in Martinsville, Virginia. Located at 2010 Spruce Street, zip code 24112, this property boasts convenient access via Sam Lions Trail and 277 feet of frontage on Spruce Street. The land is zoned R( and features readily available public utilities including water, sewer, natural gas, and cable. Its prime location within Lanier Farms offers stunning views overlooking Mulberry Creek and Forest Park Country Club. This is the last large, developable tract in the city, making it an ideal site for a mixed-use development. Potential uses include single-family homes, townhomes, condominiums, or apartments, catering to a variety of housing needs. The expansive acreage and desirable amenities make this property a highly attractive investment for developers seeking a premier location in Martinsville and Henry County. The APN is 000424900. The asking price for this significant landholding is $355,000.

    Property Features for 2010 Spruce St

    General Information

    Property type
    Land
    Lot Size
    5,437,159 SF

    HighLights

    • 100+ acre prime developable tract in Lanier Farms, Martinsville, Henry County; last large tract available.
    • 277 ft of frontage on Spruce Street, accessible via Sam Lions Trail.
    • Utilities available: public water & sewer, natural gas, cable.
    • Breathtaking views of Mulberry Creek and Forest Park Country Club.
    • Ideal for mixed‑use development (single‑family, townhomes, condos, apartments).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Auto Repair Shop Hair Salon Nail Salon Accounting Firm Bar & Pub Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Martinsville
    County
    Martinsville City
    State
    Virginia
    Longitude
    -79.828612961972
    Latitude
    36.659929922907

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    FAQs

    What type of property is this?
    Land - 124 Acres, Public Utilities, Breathtaking Views
    Where is this land located?
    The property is located at 2010 Spruce St Martinsville, VA.
    What is the asking price?
    The asking price for this property is $355,000.
    What are key features of this property?
    This property features: 100+ acre prime developable tract in Lanier Farms, Martinsville, Henry County; last large tract available.; 277 ft of frontage on Spruce Street, accessible via Sam Lions Trail.; Utilities available: public water & sewer, natural gas, cable.
    Request Owner's contact information
    2010 Spruce St Martinsville, VA 24112
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    Martinsville, VA 24112
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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
    2010 Spruce St Martinsville, VA 24112
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