522 Main StFarmville, VA 23901

Property Details for 522 Main St

Lot size

1.28 AC

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

023A41627 1

APU

023A416271

Description

This exceptional 4,000 square foot commercial building, situated on a 1.28-acre lot at 522 N Main Street in Farmville, VA, presents a remarkable investment opportunity. Built in 2007, the property boasts 3,160 square feet of finished space currently configured as a well-established restaurant, complete with a private banquet room and ample seating for diners. An additional 840 square feet of unfinished space, currently used for storage, offers significant expansion potential. The building features two public restrooms and is handicap accessible. Its prime location on North Main Street ensures high visibility and convenient access, complemented by its own parking lot and proximity to additional street and public parking. The property is located within the Enterprise Zone, offering potential economic benefits. The building's robust infrastructure includes four separate meters, four heat pumps/split systems, each with a 200-amp service (300-amp service for the main building section), and is wired for a generator. This versatile setup allows for flexible use, including the possibility of subdividing the interior into multiple office or retail spaces. The sale includes all fixtures and inventory

• CAP approach

  CAP return

  Valuation

  6%

  $10,334,540

  6.5%

  $9,539,576

  7%

  $8,858,177

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,837,616

  Geo Method

  $19,837,616

• Alternative Use

  Use

  Valuation

  Residential

  $9,539,576

  Hospitality

  $8,738,200

  Educational

  $7,270,080

  Medical

  $7,520,109

  Retail

  $11,309,013

Location Insight

City

Farmville

County

Prince Edward

State

Virginia

Latitude

37.3062

Longitude

-78.3896

Property Tax & Assessments

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