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    Greensboro Rd Ridgeway, VA 24148

    Sponsored
    For Sale
    $275,000

    High-traffic, 2.8-acre commercial lot.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.798-acre commercial land parcel presents a prime development opportunity in Ridgeway, Virginia. Strategically located on US 220, directly across from the Martinsville Speedway and adjacent to the Virginia State Police Office, this property boasts unparalleled visibility and accessibility. The site is zoned B1-Commercial and offers ample space for a substantial development, exceeding the capacity for a 10,000 square foot building, as evidenced by an available conceptual site plan. With a daily traffic count on US 220 exceeding 16,000 vehicles, this location guarantees high exposure for any commercial venture. Convenient access is ensured via a stoplight at Fisher Farm Drive. Utilities, including sewer, are readily available nearby on Fisher Farm Road. This property's combination of high visibility, convenient access, and flexible zoning makes it an ideal investment for a variety of commercial uses. The asking price is $275,000. This is a rare opportunity to acquire a highly desirable commercial lot in a thriving location.

    Property Features for 0 Greensboro Rd

    General Information

    Property type
    Individual retail properties
    Lot Size
    121,881 SF

    HighLights

    • ±2.8‑acre land parcel
    • High visibility and prominent location
    • High traffic counts with convenient access
    • Adjacent to State Police facility
    • Utilities readily available
    • Flexible zoning designation
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Ridgeway
    County
    Henry
    State
    Virginia
    Longitude
    -79.859116601339
    Latitude
    36.636356100716

    Nearby Comparable

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      Commercial Lot Near Martinsville Speedway

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      Ridgeway Commercial Land - 1.1 Acres

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      17.51 Acre Site on 220

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    • $355,000
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      Prime Martinsville Development Land

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    • $354,000

      Brick Ranch Home with Singlewide

      Well-maintained properties in central location with updates and detached garage.
      1043 Liberty Street Ext, Martinsville, VA 24112
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    • $329,000
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      Retail Investment Opportunity, Martinsville, VA

      High-traffic retail property with existing tenant for immediate income.
      1100 Spruce Street Ext, Martinsville, VA 24112
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    • $125,000
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      Martinsville Commercial Land - $125K

      0.86 acres, prime commercial location.
      1150 Spruce St, Martinsville, VA 24112
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-traffic, 2.8-acre commercial lot.
    Where is this individual retail property located?
    The property is located at Greensboro Rd Ridgeway, VA.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: ±2.8-acre land parcel; High visibility and prominent location; High traffic counts with convenient access
    Request Owner's contact information
    Greensboro Rd Ridgeway, VA 24148
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    Greensboro Rd
    Ridgeway, VA 24148
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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
    Greensboro Rd Ridgeway, VA 24148
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