10370 Chamberlayne Rd Mechanicsville, VA 23116
- Commercial real estate
- 0.84 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 10370 Chamberlayne Rd
- Year built
- 1754
- Lot size
- 0.84 lot acres
- Zone code
- B-1
- Property type
- Commercial real estate
- APN
- 8707-57-9314
- APU
- 8707579314
Description
This exceptional commercial property, located at 10370, 10375, and 10379 Chamberlayne Road in Mechanicsville, Virginia, presents a lucrative investment opportunity. Boasting a prime location with Chamberlayne Road/Route 301 frontage, this property offers unparalleled visibility and convenient access to Hanover Courthouse and the Rutland area, with Interstate 295 just four miles away. The 1.84-acre lot encompasses two separate buildings, ideal for a variety of retail or office uses. The larger, red building, totaling 1940 square feet, features a heat pump (replaced in 2014) and a roof replaced in 2019. Its previous rental income was $1100 per month. The smaller, white building, measuring 648 square feet, includes a wall heat unit, a roof replaced in 2016, and a hot water heater replaced in 2022. This building previously generated $750 in monthly rental income. The property also includes a detached garage. Two separate septic drainfields serve the buildings, one located behind each structure, and a single well provides water. The property is zoned B3, offering flexibility for various commercial ventures. With its substantial size, excellent location, and recent upgrades, this property represents a strong investment opportunity with significant potential for growth and return. The total square footage is 2,588 square feet. The asking price is $599,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $295,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $265,000
- 6.5%
- $275,000
- 7%
- $315,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $280,000
- Geo Method
- $305,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $300,000
- Retail
- $305,000
- Mixed-Use
- $355,000
- Hospitality
- $290,000
- Educational
- $300,000
- Residential Income
- $325,000
- Energy
- $345,000
- Income-Based Land
- $265,000
- Food Service
- $275,000
Location Insight
- Map
- Local Demand
- City
- Mechanicsville
- County
- Hanover
- State
- Virginia
- Longitude
- -77.3837
- Latitude
- 37.6917
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
