1787 Lockett Rd, Rice, VA 23966
This exceptional 2,904 square foot commercial building, constructed in 2020, is situated on a one-acre lot in the peaceful town of Rice, Virginia. Located beside a church used primarily for events, the property enjoys a tranquil and secluded setting, ideal for a variety of businesses. The building's recent use as a school highlights its suitability for office space, daycare centers, or other businesses requiring ample room. The interior features four large rooms, each with its own entrance, providing flexibility and privacy. Multiple-stall bathrooms are conveniently located for shared use. The building is equipped with a dual HVAC system ensuring comfortable climate control year-round, and abundant natural lighting creates a bright and welcoming atmosphere. Ample parking is available on-site, catering to both employees and clients. Furthermore, the property is fully handicap accessible, ensuring inclusivity and convenience. Priced below its tax assessment, this nearly 3,000 square foot building offers significant value, representing a cost-effective alternative to new construction. Showings are by appointment only.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.