433 Commonwealth BlvdMartinsville, VA 24112

Property Details for 433 Commonwealth Blvd

Year built

1981

Lot size

1.14 AC

Property size (Sq ft)

17,578 SF

Zone code

ED-MA

Property type

Office properties

Property subtype

Office buildings

APN

25 (11 )00 /C1R

APU

251100C1R

Description

This 12,229 square foot, two-story office building at 433 Commonwealth Blvd E, Martinsville, VA 24112, is available for lease. Built in 1981, this former bank headquarters sits on a 1.1-acre lot and is zoned ED-MA. The property features numerous large private offices, spacious training and meeting rooms, a central reception desk, and a comfortable waiting area. A wide spiral staircase connects the ground and second floors. Flexible space options are available, with a minimum divisible space of 5,734 square feet and a maximum contiguous space of 6,495 square feet. The entire 12,229 square feet is currently vacant and ready for immediate occupancy. Ideal for professional services, back-office operations, medical offices, executive suites, or co-working spaces. The building does not have elevators. The property's excellent condition and convenient location make it a highly desirable opportunity. APN: 000980690.

• CAP approach

  CAP return

  Valuation

  6%

  $1,928,513

  6.5%

  $1,780,166

  7%

  $1,653,011

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,231,228

  Geo Method

  $4,034,854

• Alternative Use

  Use

  Valuation

  Residential

  $2,207,406

  Hospitality

  $2,021,972

  Educational

  $1,682,257

  Medical

  $1,740,112

  Retail

  $2,616,844

Location Insight

City

Martinsville

County

Martinsville City

State

Virginia

Latitude

36.696

Longitude

-79.8561

CBSA code

32300

CBSA name

MARTINSVILLE, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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