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Property profile & analytics
OFF-MARKET
Commercial real estate

1931 Big Spg Dr Elliston, VA 24087-3541

14,472 SF 1.8 ac lot Built 1955
Entity Owned Free & Clear
Property ID
US87-1611114
Property summary
AI-generated overview

This exceptional commercial property presents a rare opportunity to acquire a piece of history. The Big Spring Mill, a landmark business operating for over 150 years, is being offered for sale via online auction concluding Thursday, March 13th, at 4 PM. The property boasts a substantial 25,735 square foot building encompassing two fully operational mills and extensive warehouse storage space. Thirteen grain/storage bins are included, providing ample capacity for various uses. The mill's strategic location offers convenient access to Norfolk Southern rail lines, enhancing logistical capabilities. The property sits on approximately 1.8 acres of land, benefiting from public water and natural gas utilities. Beyond its current function as a flour/cornmeal and feed mill, this versatile property offers endless possibilities for redevelopment and repurposing to suit a wide range of business ventures. Note that the listed price represents the starting bid for the auction and may not reflect the final sale price. A significant investment was made in July 2023 with the installation of a new roof on the office and storage building. This is a truly unique opportunity to own a significant piece of the region's heritage and entrepreneurial landscape.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1955
Total area 14,472 SF
Lot 1.8 ac (78,408 SF)
Zoning code A1
APN 059- A 54
UPID US87-1611114
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
Current use
Occupant on record · Public records
  • L & L Brokerage Co Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
BIG SPRING MILL INC
BIG SPRING MILL INC
Zoning & alternative use
A1 · Elliston, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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