Property profile

20 Ellsworth St Martinsville, VA 24112

OFF-MARKET
Office buildings
Property ID
US87-3218329
3,948 SF 0.27 ac lot Built 1971
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Class A office building, located at 20 Ellsworth Street in Martinsville, Virginia, presents a unique owner-user opportunity. Boasting 3,948 square feet of versatile space, this single-story building features eleven offices, two conference rooms, a well-equipped break room with cabinets, sink, refrigerator, and sitting area, and three bathrooms (including a handicap-accessible option). Recently renovated in 2020 and 2023, the property includes new flooring and fresh interior paint. Ample parking is available for twelve vehicles, with convenient handicap access via a rear ramp. Situated on a 0.27-acre lot, the building is zoned C-UB, allowing for diverse uses such as medical, legal, insurance, or shared workspace. The property is currently vacant and offered at $395,000 under a gross lease structure. While under contract with a contingency clause expiring January 18, 2025, the seller is actively seeking backup offers from qualified buyers. This is a fee-simple ownership opportunity in the thriving Uptown Martinsville business district.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1971
Total area 3,948 SF
Lot 0.27 ac (11,761 SF)
Zoning code C-UB
APN 33 (03 )N /08R
UPID US87-3218329

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Crisis Center Medical Clinic

Location

20 Ellsworth St Martinsville, VA 24112-2812
Martinsville metro Census 300 MARTINSVILLE, VA MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$195k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$160k

Owner & transaction history

since 2020
Last sale
$160,000
2 recorded transactions
2020
$160,000
2020
Price N/A

Zoning & alternative use

C-UB · Martinsville, VA
Zoning description

C-UB Uptown Business District (formerly C-2) C-C Corridor Commercial District (formerly C-3) ED-MA Economic Development Medical Campus District (new district) ED-G Economic Development General District (formerly M-1) ED-…

General category COMMERCIAL

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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