592 Valley PikeLexington, VA 24450

Property Details for 592 Valley Pike

Lot size

12.50 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 12.5-acre parcel presents a unique investment opportunity in Lexington, Virginia. Located at 592 Valley Pike, this property boasts an R-1 zoning designation, offering significant potential for residential development. The land is situated in Rockbridge County, just outside the city limits, providing a convenient location within the Central Shenandoah Valley. Its proximity to prominent institutions like the Virginia Military Institute and Washington & Lee University, coupled with its closeness to area retail establishments, makes it an attractive site for various projects. The property has already undergone a conditional rezoning (R-MF) allowing for the construction of 70 apartment units, with the potential for further expansion. This presents a compelling opportunity for developers seeking to capitalize on the strong demand for housing in this vibrant area. The expansive lot size offers ample space for a substantial development, while the strategic location ensures high visibility and accessibility. Detailed zoning information and development plans are available upon request. This is a rare opportunity to acquire a large, well-located parcel of land with significant development potential in a desirable Virginia community. The asking price for this exceptional property is $600,000.

Location Insight

City

Lexington

County

Lexington City

State

Virginia

Latitude

37.8165

Longitude

-79.4016

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