Property profile

650 Lee Hwy Lexington, VA 24450

OFF-MARKET
Land
0.46 ac lot
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Property summary

AI-generated overview

This exceptional 0.46-acre commercial land parcel, located at 650 N Lee Hwy in Lexington, Virginia (zip code 24450), presents a unique investment opportunity. The property, identified by APN 61A1-6-8A, boasts excellent road frontage, providing high visibility and accessibility. Currently vacant and wooded, the land offers a blank canvas for a variety of commercial ventures. Its strategic location is less than a mile from the Virginia Military Institute (VMI), ensuring a strong potential customer base and high traffic volume. The property's history includes previous use as a two-pump gas station, suggesting potential for redevelopment or repurposing. This prime location in Rockbridge County offers significant advantages for businesses seeking visibility and proximity to a well-established institution. The asking price for this exceptional commercial land is $175,000. Serious inquiries are encouraged to explore the possibilities this property offers. The coordinates are 37.7938739 latitude and -79.4237948 longitude.

Property profile

Verified
Property type Land
Lot 0.46 ac (20,038 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

650 Lee Hwy Lexington, VA 24450
Lexington metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Blend (final) Blend
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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