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Property profile & analytics
OFF-MARKET
Commercial land

120 Morewood Rd Hardy, VA 24101-3902

3 ac lot
Individually Owned 11-yr Hold Absentee Owner Free & Clear
Property ID
US87-1475584
Property summary
AI-generated overview

This exceptional 3-acre commercial lot presents a remarkable investment opportunity in the thriving Westlake area of Smith Mountain Lake, Virginia. Located at 120 Morewood Road, Hardy, VA 24101 (APN: 0300001000), this property boasts over 300 feet of road frontage and benefits from its strategic position near the intersection of Route 122/Booker T Washington Highway and the Westlake Towne Center. The property is zoned B-2, allowing for a variety of commercial uses. Its prime location is further enhanced by its proximity to established businesses and residential developments. Across the street sits the brand new, 72-unit Westlake Apartment Homes, ensuring a high volume of potential customers. The surrounding area includes well-established commercial entities such as Carilion Clinic, Westlake Professional Park, and the Runk & Platt Smith Mountain Lake Retirement Village, a senior living community. This property offers significant potential for developers and investors seeking a high-visibility location within a rapidly growing community. The asking price is $325,000. Don't miss this chance to acquire a highly desirable commercial parcel in a sought-after location.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 3 ac (130,680 SF)
Zoning code B2
APN 030 00-010 00
UPID US87-1475584
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
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Eugene C Hannabass · 11 yrs held
Eugene C Hannabass
since 2014
2 recorded transactions
2014
$191,557
2004
$240,000
Zoning & alternative use
B2 · Hardy, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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