7431 Richmond HwyAppomattox, VA 24522

Property Details for 7431 Richmond Hwy

Year built

1978

Lot size

2.31 AC

Property type

Office properties

Property subtype

Office buildings

APN

63 A 58

APU

63A58

Description

This exceptional commercial property, situated on the heavily trafficked Route 460 in Appomattox, Virginia, presents a unique investment opportunity. The 2.3-acre parcel boasts an impressive 245 feet of road frontage, ensuring high visibility and accessibility for any business. The property includes a substantial 3,290 square foot commercial office building, providing ample space for immediate occupancy or redevelopment. Several additional outbuildings are also present, offering further square footage for storage, expansion, or alternative uses. The property's versatile zoning allows for a wide range of potential uses, including restaurant, office, retail, and medical facilities. Its strategic location offers close proximity to a variety of existing retail and office establishments, creating a synergistic environment for business growth. The combination of high traffic volume, substantial building space, and flexible zoning makes this property an attractive prospect for investors seeking a strong return on investment in a thriving community. The significant road frontage and ample land provide considerable potential for future expansion or redevelopment, catering to a diverse range of business needs. This is a rare opportunity to acquire a well-positioned commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $15,040,825

  6.5%

  $13,883,838

  7%

  $12,892,135

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,097,232

  Geo Method

  $23,097,232

• Alternative Use

  Use

  Valuation

  Residential

  $17,215,960

  Hospitality

  $15,769,726

  Educational

  $13,120,227

  Medical

  $13,571,452

  Retail

  $20,409,242

Location Insight

City

Appomattox

County

Appomattox

State

Virginia

Latitude

37.3636

Longitude

-78.8512

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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