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    I-64 Rte Gum Spring, VA 23117

    For Sale
    $2,100,000

    49 Acres, Prime Interstate Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 49-acre commercial land parcel presents a unique investment opportunity in Louisa County, Virginia. Strategically located at the intersection of I-64 and Route 522, near the Gum Springs exit, this site boasts unparalleled visibility and accessibility. Zoned C-2 and A-2, the property is primed for significant development. Extensive due diligence has already been completed, including obtaining a zoning conformance letter from Louisa County, a wetlands and Waters of the U.S. (WOUS) delineation, and a jurisdictional determination from the Corps of Engineers. A Phase 1 hydrogeological investigation for well water supply and a preliminary site characterization report for mass drainfields have also been finalized. Furthermore, the VDOT road abandonment is complete, and the right-of-way vacation process is underway. A traffic impact analysis study has been completed and approved, and site plans have undergone two review cycles with Louisa County and the Department of Environmental Quality (DEQ). This property offers a streamlined path to development, minimizing potential delays and maximizing return on investment. The asking price is $2,100,000. This is a rare opportunity to acquire a fully prepared development site in a high-growth area just west of Richmond. The property's location adjacent to the I-64 eastbound entrance ramp on Route 522 ensures exceptional exposure and convenient access.

    Property Features for I-64 Rte

    General Information

    Property type
    Land
    Lot Size
    2,134,440 SF

    HighLights

    • 49‑acre interstate development site, C‑2 & A‑2 zoning.
    • Prime location west of Richmond at the Gum Springs I‑64 exit.
    • Adjacent to I‑64 eastbound entrance ramp on Rt. 522.
    • Zoning conformance letter secured from Louisa County.
    • Wetlands and Waters of the U.S. (WOUS) delineation complete.
    • Jurisdictional determination for wetlands/WOUS obtained from the Army Corps of Engineers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Gum Spring
    County
    Louisa
    State
    Virginia
    Longitude
    -77.9242968
    Latitude
    37.8049043

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    FAQs

    What type of property is this?
    Land - 49 Acres, Prime Interstate Location
    Where is this land located?
    The property is located at I-64 Rte Gum Spring, VA.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: 49-acre interstate development site, C-2 & A-2 zoning.; Prime location west of Richmond at the Gum Springs I-64 exit.; Adjacent to I-64 eastbound entrance ramp on Rt. 522.
    (804) 864-9788
    Request Owner's contact information
    I-64 Rte Gum Spring, VA 23117
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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

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    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
    I-64 Rte Gum Spring, VA 23117
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