2780 Lee HwyTroutville, VA 24175

Property Details for 2780 Lee Hwy

Lot size

1.46 AC

Zone code

B3

Property type

Commercial real estate

APN

101-176

APU

101176

Description

This exceptional 6,867 square foot retail property, located at 2780 Lee Hwy in Troutville, Virginia (zip code 24175), presents a remarkable investment opportunity. The property, built in 1979, sits on a substantial 2.8-acre lot and was formerly operated as an Exxon gas station. While the pumps and canopy have been removed, the site benefits from its strategic location at the intersection of Route 11 and Alternate Route 220, near I-81 Exit 150. This high-visibility corner lot features a traffic light, ensuring maximum exposure to the significant daily traffic volume. Route 11 sees 14,000 vehicles daily, while Alternate Route 220 boasts 18,000 vehicles per day. The property is currently vacant and available for lease under a modified lease agreement. The asking price is $2,800,000. This property is ideal for redevelopment and offers significant potential for a variety of retail uses. The property's size and location make it an attractive option for investors seeking a high-traffic, high-visibility location in a growing area. The property is classified as a convenience store and gas station site.

• CAP approach

  CAP return

  Valuation

  6%

  $7,891,480

  6.5%

  $7,284,450

  7%

  $6,764,130

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,056,050

  Geo Method

  $14,568,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $16,254,600

  Retail / Commercial

  $7,960,750

  Mixed-Use / Specialty

  $7,637,230

  Hospitality / Lodging

  $5,218,930

  Office

  $7,284,450

  Institutional / Educational

  $7,834,160

  Residential Income

  $9,165,960

  Multifamily

  $12,629,400

  Automotive / Energy

  $6,714,990

  Parking / Income-Based Land

  $2,608,850

  Restaurant / Food Service

  $3,342,300

  Healthcare / Senior Housing

  $8,134,490

Location Insight

City

Troutville

County

Botetourt

State

Virginia

Latitude

37.3865

Longitude

-79.9024

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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