7431 Richmond Hwy Appomattox, VA 24522
- Office buildings
- 2.31 lot acres
Current Use by Public Records
- Office buildings
Property Details for 7431 Richmond Hwy
- Year built
- 1978
- Lot size
- 2.31 lot acres
- Property type
- Office buildings
- APN
- 63 A 58
- APU
- 63A58
Description
This exceptional commercial property, situated on the heavily trafficked Route 460 in Appomattox, Virginia, presents a unique investment opportunity. The 2.3-acre parcel boasts an impressive 245 feet of road frontage, ensuring high visibility and accessibility for any business. The property includes a substantial 3,290 square foot commercial office building, providing ample space for immediate occupancy or redevelopment. Several additional outbuildings are also present, offering further square footage for storage, expansion, or alternative uses. The property's versatile zoning allows for a wide range of potential uses, including restaurant, office, retail, and medical facilities. Its strategic location offers close proximity to a variety of existing retail and office establishments, creating a synergistic environment for business growth. The combination of high traffic volume, substantial building space, and flexible zoning makes this property an attractive prospect for investors seeking a strong return on investment in a thriving community. The significant road frontage and ample land provide considerable potential for future expansion or redevelopment, catering to a diverse range of business needs. This is a rare opportunity to acquire a well-positioned commercial property in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $310,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $370,000
- 6.5%
- $410,000
- 7%
- $395,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $370,000
- Geo Method
- $400,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $350,000
- Retail
- $390,000
- Mixed-Use
- $455,000
- Hospitality
- $375,000
- Educational
- $340,000
- Residential Income
- $355,000
- Energy
- $400,000
- Income-Based Land
- $465,000
- Food Service
- $380,000
Location Insight
- Map
- Local Demand
- City
- Appomattox
- County
- Appomattox
- State
- Virginia
- Longitude
- -78.8512
- Latitude
- 37.3636
- CBSA code
- 31340
- CBSA name
- LYNCHBURG, VA METROPOLITAN STATISTICAL AREA