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    OFF-MARKET
    Commercial real estate

    1787 Lockett Rd, Rice, VA 23966

    2,904 SF 1 ac lot Built 2020
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 2020
    Total area 2,904 SF
    Lot 1 ac (43,560 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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