2707 Greensboro RdMartinsville, VA 24112

Property Details for 2707 Greensboro Rd

Year built

2008

Lot size

1.38 AC

Zone code

B1

Property type

Commercial real estate

APN

229950001

APU

229950001

Description

This exceptional 13,569-square-foot former Walgreens retail space presents a prime opportunity for lease in Martinsville, Virginia. Located at 2707 Greensboro Road, this single-tenant building sits on a 1.38-acre lot at a hard-corner, signalized intersection with excellent visibility. The property boasts a convenient drive-thru, multiple entrances, and ample parking with 65 surface spaces. Benefiting from a B1 zoning classification, this freestanding building is ideal for a variety of retail uses and offers significant repurposing or redevelopment potential. The strategic location at the intersection of Greensboro Road (US Route 220) and Rives Road provides exceptional access to high traffic counts, with 12,000 vehicles daily on Greensboro Road and 6,000 on Rives Road. Built in 2008, the Class B building features one story and is served by Appalachian Power. The property's strong demographics further enhance its appeal, with a 5-mile radius encompassing a population of 29,470 and an average household income of $58,205 (2023 data). The property's APN is 229950001. This is a rare opportunity to acquire a well-positioned retail space in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $7,479,800

  6.5%

  $6,904,430

  7%

  $6,411,250

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,635,780

  Geo Method

  $13,808,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $15,406,600

  Retail / Commercial

  $7,545,440

  Mixed-Use / Specialty

  $7,238,800

  Hospitality / Lodging

  $4,946,660

  Office

  $6,904,430

  Institutional / Educational

  $7,425,460

  Residential Income

  $8,687,780

  Multifamily

  $11,970,500

  Automotive / Energy

  $6,364,680

  Parking / Income-Based Land

  $2,472,750

  Restaurant / Food Service

  $3,167,930

  Healthcare / Senior Housing

  $7,710,130

Location Insight

City

Martinsville

County

Henry

State

Virginia

Latitude

36.6539

Longitude

-79.8742

CBSA code

32300

CBSA name

MARTINSVILLE, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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