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    5523 Waterlick Rd Forest, VA 24551

    For Sale
    $395,000

    1.58 Acres, Prime Forest, VA Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 1.58-acre commercial lot presents a remarkable investment opportunity in Forest, Virginia. Situated at the highly visible, signalized intersection of Waterlick Road and Thomas Jefferson Road, this property boasts exceptional visibility and high traffic counts. Currently zoned C-1 Commercial, the land offers a diverse range of permitted uses, including medical and professional offices, banking and financial institutions, personal services, and multifamily dwellings. Its strategic location between Timberlake Road and Forest Road ensures convenient access and high traffic volume. The proximity to major residential developments further enhances its appeal and potential for strong returns. This prime location is ideal for a variety of commercial ventures, from a medical office building or financial institution to a strip center or convenience store (subject to potential rezoning). The asking price is $395,000. The Bedford County location offers a strong foundation for growth and success. This is a rare opportunity to acquire a highly desirable commercial property in a thriving area. Don't miss out on this chance to secure a prominent location with significant development potential. The property address is 5523 Waterlick Road, Forest, VA 24551.

    Property Features for 5523 Waterlick Rd

    General Information

    Property type
    Land
    Lot Size
    68,825 SF

    HighLights

    • 1.58‑acre commercial lot in Forest, VA, priced at $395,000.
    • High‑visibility location at the signalized intersection of Waterlick Road and Thomas Jefferson Road, boasting high traffic counts.
    • C‑1 Commercial zoning allows for diverse uses including medical/professional offices, banking, personal services, and multifamily (subject to potential rezoning).
    • Convenient access and high traffic volume due to proximity to Timberlake Road and Forest Road, near major residential developments.
    • Prime location ideal for various commercial ventures, such as medical office buildings, financial institutions, or retail.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Gym & Fitness Department Store HVAC Service Garden Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest
    County
    Bedford
    State
    Virginia
    Longitude
    -79.2821884
    Latitude
    37.3429875

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    FAQs

    What type of property is this?
    Land - 1.58 Acres, Prime Forest, VA Location
    Where is this land located?
    The property is located at 5523 Waterlick Rd Forest, VA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: 1.58-acre commercial lot in Forest, VA, priced at $395,000.; High-visibility location at the signalized intersection of Waterlick Road and Thomas Jefferson Road, boasting high traffic counts.; C-1 Commercial zoning allows for diverse uses including medical/professional offices, banking, personal services, and multifamily (subject to potential rezoning).
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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
    5523 Waterlick Rd Forest, VA 24551
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