1139 Broad Street RdOilville, VA 23129

Property Details for 1139 Broad Street Rd

Lot size

1.98 AC

Zone code

B1-BUS/GEN

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

45 22 4

APU

45224

Description

This exceptional 12.19-acre commercial property in Oilville, VA, presents a unique investment opportunity. Located on Broad Street Road with high visibility and convenient access near the Oilville exit, this property boasts B1 zoning, allowing for the construction of five individual buildings, one per parcel. The property is offered as five combined parcels (Tax IDs: 45-22-0-1-0, 45-22-0-2-0, 45-22-0-3-0, 45-22-0-4-0, 45-22-0-5-0), with a thoughtfully designed site plan and renderings available to showcase development potential. A 772-square-foot existing office building is included (AS IS), providing immediate utility for adaptive reuse or upgrade. The phased development approach allows for strategic expansion, aligning clearing and paving with your timeline. This prime location offers unmatched exposure for a variety of commercial ventures, from retail spaces to a professional office park. The seller will contribute $50,000 towards the construction of a common entrance. Priced at $950,000, this property offers significant upside for the right developer.

• CAP approach

  CAP return

  Valuation

  6%

  $22,584,340

  6.5%

  $20,847,082

  7%

  $19,358,004

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,349,412

  Geo Method

  $22,349,412

• Alternative Use

  Use

  Valuation

  Residential

  $20,847,082

  Hospitality

  $19,095,816

  Educational

  $15,887,494

  Medical

  $16,433,889

  Retail

  $24,713,880

Location Insight

City

Oilville

County

Goochland

State

Virginia

Latitude

37.6954

Longitude

-77.7662

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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