34 Tank RdNelson, VA 24580

Property Details for 34 Tank Rd

Year built

1976

Lot size

17.99 AC

Property size (Sq ft)

17,432 SF

Zone code

M1

Property type

Mixed-use properties

Property subtype

Other industrial properties

APN

186A01-02--E

APU

186A0102E

Description

This 17.98-acre industrial land parcel in Nelson, Virginia, presents a significant redevelopment opportunity. Located on Tank Rd, Mecklenburg County (zip code 24580), the property boasts Heavy Industrial zoning, allowing for diverse processing, manufacturing, and storage uses. The site includes a 15,015 square foot building, which may be suitable for renovation or demolition. Existing access points along Route 49 provide convenient access to US Interstate 85. Extensive environmental remediation, completed in 2009 by the Virginia Department of Environmental Quality and the Environmental Protection Agency, ensures a clean slate for future development. The property's wooded area, primarily pine trees, offers potential additional income from timber sales. The large lot size facilitates expansion or new construction, making this an attractive prospect for end-users or investors seeking a substantial industrial footprint in a strategic location. The asking price is $539,400.

• CAP approach

  CAP return

  Valuation

  6%

  $3,231,015

  6.5%

  $2,982,476

  7%

  $2,769,442

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,202,079

  Geo Method

  $6,202,079

• Alternative Use

  Use

  Valuation

  Residential

  $2,982,476

  Hospitality

  $2,731,932

  Educational

  $2,272,935

  Medical

  $2,351,104

  Retail

  $3,535,676

Location Insight

City

Nelson

County

Mecklenburg

State

Virginia

Latitude

36.5758

Longitude

-78.6531

Property Tax & Assessments

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