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521 Colony RdMadison Heights, VA 24572

386-acre campus, James River frontage, redevelopment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 386-acre redevelopment opportunity in Amherst County, Virginia, presents a unique blend of history and potential. Located at 521 Colony Rd, Madison Heights, VA 24572, this former Central Virginia Training Center campus boasts over 3,800 feet of James River waterfront with stunning views of downtown Lynchburg. The property includes approximately 90 structures, totaling over 900,000 square feet, built between 1912 and 1989. These structures offer a diverse range of adaptive reuse possibilities, with some potentially qualifying for historic tax credits. Others may require demolition to facilitate new construction. The site benefits from readily available on-site utilities, including electricity, water, sewer, and natural gas. Designated as an Opportunity Zone, this property offers significant tax advantages. The Amherst County Comprehensive Plan supports a mixed-use development, envisioning over 1,400 residential units and 380,000 square feet of commercial space. The Virginia General Assembly has approved a Certificate of Public Need for a 90-bed nursing home facility, should it be included in future development plans. This prime location, coupled with strong local government support and a comprehensive development plan, makes this a truly exceptional investment opportunity. The seller is actively seeking proposals for master development of this unique and expansive property.

Highlights

  • 386-acre mixed-use development site in Amherst County, VA.
  • 3,800+ feet of James River frontage with Lynchburg views.
  • 90+ structures totaling over 900,000 square feet, offering adaptive reuse and redevelopment potential.
  • On-site utilities: electricity, water, sewer, and natural gas.
  • Located in an Opportunity Zone.

Property Details for 521 Colony Rd

Property type
Warehouses, Industrial properties
Year Built
1912
Lot Size (sq. ft)
16,814,160 SF

Location Insight

City
Madison Heights
County
Amherst
State
Virginia
Latitude
37.4137106
Longitude
-79.1199684
521 Colony Rd, Madison Heights, Virginia

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521 Colony Rd
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