4842 Amherst HwyMadison Heights, VA 24572

Property Details for 4842 Amherst Hwy

Year built

1993

Construction

METAL FRAME

Lot size

0.29 AC

Property size (Sq ft)

650 SF

Zone code

B2

Property type

Office properties

Property subtype

Office buildings

APN

155C 8 A

APU

155C8A

Description

This exceptional 1.47-acre commercial property presents a unique investment opportunity in the thriving Madison Heights, VA market. Located on a signalized corner of S. Amherst Highway (Business 29), this site boasts over 200 feet of high-visibility road frontage, ensuring maximum exposure for any business. The property is zoned B-2, allowing for a wide range of commercial uses. Currently featuring two existing buildings totaling 5,950 square feet, this site offers flexibility for a ground lease or a build-to-suit development. The existing structures provide immediate income potential or a foundation for expansion. The site's strategic location provides excellent access and visibility, enhanced by two convenient ingress/egress points. Furthermore, the property is drive-thru capable, making it ideal for businesses requiring this feature. This prime location offers significant potential for growth and return on investment, making it an attractive proposition for discerning investors and developers seeking a high-traffic, easily accessible site in a dynamic commercial area. The ample lot size and flexible zoning regulations provide a blank canvas for a variety of commercial ventures. Don't miss this chance to secure a prominent location in a rapidly developing market.

• CAP approach

  CAP return

  Valuation

  6%

  $97,159

  6.5%

  $89,685

  7%

  $83,279

• Comparable approach

  Method

  Valuation

  Relative Method

  $149,201

  Geo Method

  $149,201

• Alternative Use

  Use

  Valuation

  Residential

  $111,210

  Hospitality

  $101,868

  Educational

  $84,753

  Medical

  $87,667

  Retail

  $131,837

Location Insight

City

Madison Heights

County

Amherst

State

Virginia

Latitude

37.4401

Longitude

-79.121

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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