10019 Chamberlayne RdMechanicsville, VA 23116

Property Details for 10019 Chamberlayne Rd

Year built

1902

Construction

BRICK

Lot size

2.39 AC

Property size (Sq ft)

2,556 SF

Zone code

B-3

Property type

Commercial real estate

APN

8707-60-5237

APU

8707605237

Description

This exceptional 2.4-acre commercial development site presents a unique investment opportunity in Mechanicsville, Virginia. Located at 10019 Chamberlayne Road, 23116, this property boasts 470 feet of direct frontage on Chamberlayne Road, offering unparalleled visibility and accessibility. The B-3 zoning allows for a wide range of commercial uses, making it ideal for various development projects. Its strategic location places it in close proximity to the intersection of Route 301 and Ashcake Road, providing convenient access to major transportation arteries. Furthermore, the site benefits from its proximity to Interstate 295 (within 4 miles) and Interstate 95 (within 4.5 miles), ensuring excellent connectivity for businesses and residents. The property is directly adjacent to the upcoming Caldwell Park development, which includes a retail center, 185 townhomes, and 232 luxury apartments, as well as the Rutland Grove development (115 units). This burgeoning area is surrounded by established communities like Ashcake, Kings Charter, and Knollwood, and numerous new residential projects are underway. The location within the highly sought-after Hanover County School System, serving approximately 18,000 students from pre-kindergarten through 12th grade, adds significant value. Hanover County's rich history and numerous historical sites, including the birthplace of Patrick Henry and Hanover Courthouse, further enhance the area's appeal. The asking price for this prime development site is $2,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $694,659

  6.5%

  $641,224

  7%

  $595,422

• Comparable approach

  Method

  Valuation

  Relative Method

  $426,878

  Geo Method

  $426,878

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,269,170

  Retail / Commercial

  $649,505

  Mixed-Use / Specialty

  $646,148

  Hospitality / Lodging

  $472,702

  Office

  $641,224

  Institutional / Educational

  $671,361

  Residential Income

  $785,492

  Multifamily

  $947,851

  Automotive / Energy

  $575,452

  Parking / Income-Based Land

  $199,611

  Restaurant / Food Service

  $333,843

  Healthcare / Senior Housing

  $663,680

Location Insight

City

Mechanicsville

County

Hanover

State

Virginia

Latitude

37.6723

Longitude

-77.3819

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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