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    120 Morewood Rd Hardy, VA 24101

    Sponsored
    For Sale
    $325,000

    Prime 3-acre commercial lot, ideal location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3-acre commercial lot presents a remarkable investment opportunity in the thriving Westlake area of Smith Mountain Lake, Virginia. Located at 120 Morewood Road, Hardy, VA 24101 (APN: 0300001000), this property boasts over 300 feet of road frontage and benefits from its strategic position near the intersection of Route 122/Booker T Washington Highway and the Westlake Towne Center. The property is zoned B-2, allowing for a variety of commercial uses. Its prime location is further enhanced by its proximity to established businesses and residential developments. Across the street sits the brand new, 72-unit Westlake Apartment Homes, ensuring a high volume of potential customers. The surrounding area includes well-established commercial entities such as Carilion Clinic, Westlake Professional Park, and the Runk & Platt Smith Mountain Lake Retirement Village, a senior living community. This property offers significant potential for developers and investors seeking a high-visibility location within a rapidly growing community. The asking price is $325,000. Don't miss this chance to acquire a highly desirable commercial parcel in a sought-after location.

    Property Features for 120 Morewood Rd

    General Information

    Property type
    Land
    Lot Size
    130,680 SF

    HighLights

    • 3‑acre commercial lot in Westlake, Smith Mountain Lake, VA.
    • Located at 120 Morewood Road, Hardy, VA 24101 (APN: 0300001000).
    • Over 300 feet of road frontage, near Route 122/Booker T Washington Highway and Westlake Towne Center.
    • B‑2 zoning allows for diverse commercial uses.
    • High visibility location near new apartment complex, Carilion Clinic, and other established businesses.
    • Asking price: $325,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Spa & Massage Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Hardy
    County
    Franklin
    State
    Virginia
    Longitude
    -79.717645
    Latitude
    37.121117

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Land - Prime 3-acre commercial lot, ideal location.
    Where is this land located?
    The property is located at 120 Morewood Rd Hardy, VA.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 3-acre commercial lot in Westlake, Smith Mountain Lake, VA.; Located at 120 Morewood Road, Hardy, VA 24101 (APN: 0300001000).; Over 300 feet of road frontage, near Route 122/Booker T Washington Highway and Westlake Towne Center.
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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
    120 Morewood Rd Hardy, VA 24101
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