171 Midland TrlLexington, VA 24450

Property Details for 171 Midland Trl

Year built

1920

Lot size

0.87 AC

Property size (Sq ft)

1,488 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Retail space

APN

75 A 47

APU

75A47

Description

This exceptional 22.71-acre commercial property in Lexington, Virginia, presents a unique investment opportunity. Located on a heavily traveled thoroughfare with convenient access to I-81 and I-64, the land is zoned for commercial use and offers a variety of development possibilities. The property can be purchased as a whole or subdivided into smaller parcels, ranging from approximately 1.25 to 6 acres. Five ready-to-build pad sites, ranging from 1.6 to 6 acres, are currently available for retail development. A significant wooded area at the property's highest point provides stunning views and is ideally suited for multi-family residential construction. The acreage figures are conceptual, and final lot sizes will be determined upon subdivision. The seller is open to considering ground leases and build-to-suit options, offering flexibility for potential buyers. The property's address is 171 E Midland Trail, Lexington, VA 24450, in Rockbridge County. Negotiable pricing is available for Lots 3, 4, and 5. This prime location and versatile zoning make this a highly attractive investment for developers seeking a variety of commercial and residential development opportunities.

• CAP approach

  CAP return

  Valuation

  6%

  $290,750

  6.5%

  $268,385

  7%

  $249,215

• Comparable approach

  Method

  Valuation

  Relative Method

  $706,949

  Geo Method

  $860,720

• Alternative Use

  Use

  Valuation

  Residential

  $226,393

  Hospitality

  $207,374

  Educational

  $172,533

  Medical

  $178,467

  Retail

  $268,385

Location Insight

City

Lexington

County

Rockbridge

State

Virginia

Latitude

37.7732

Longitude

-79.4306

Property Tax & Assessments

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