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234 Eastwood Dr - 26+/- Acres Zoned for MultiFamily Development 26 Acres of Commercial Land Offered at $1,500,000 in Danville, VA 24540
Investment Highlights
- High unit yield by right
- Site optionality
- Economic inflection point
- Rural opportunity zone 2.0 eligible + located in a qualified census tract 51590001302
- Structural undersupply
- Thirteen (13) parcels
Executive Summary
26 Acres Zoned By Right for High Density Multifamily with Utilities Available to the Site
Danville represents a classic early-cycle secondary market: accelerating job growth, measurable housing deficit, minimal institutional competition, and a local government aligned with residential expansion. New multifamily product delivered at today’s basis has the potential to achieve outsized stabilized yields relative to larger Virginia metros while benefiting from long-term regional economic diversification.
The city is now attracting advanced manufacturing, logistics, healthcare, and technology-driven employers, generating thousands of new jobs and positioning the region for sustained economic expansion. However, housing production has not kept pace with employment growth, resulting in a documented shortage of both rental units and single-family homes.
ECONOMIC DEVELOPMENT NEWS:
Members of the Danville-Pittsylvania Regional Industrial Facility Authority unanimously voted Monday to approve an agreement to sell property at the Southern Virginia Megasite at Berry Hill to SAC III Acquisition,... https://virginiabusiness.com/berry-hill-megasite-data-center-stack-infrastructure/
An investment buyer has purchased the 927,500-square-foot Morgan Olson manufacturing facility at the Cane Creek Centre industrial park in Pittsylvania County, according to an announcement distributed Thursday by Glen Allen based...https://virginiabusiness.com/investor-buys-morgan-olson-plant-pittsylvania-county/
Danville represents a classic early-cycle secondary market: accelerating job growth, measurable housing deficit, minimal institutional competition, and a local government aligned with residential expansion. New multifamily product delivered at today’s basis has the potential to achieve outsized stabilized yields relative to larger Virginia metros while benefiting from long-term regional economic diversification.
The city is now attracting advanced manufacturing, logistics, healthcare, and technology-driven employers, generating thousands of new jobs and positioning the region for sustained economic expansion. However, housing production has not kept pace with employment growth, resulting in a documented shortage of both rental units and single-family homes.
ECONOMIC DEVELOPMENT NEWS:
Members of the Danville-Pittsylvania Regional Industrial Facility Authority unanimously voted Monday to approve an agreement to sell property at the Southern Virginia Megasite at Berry Hill to SAC III Acquisition,... https://virginiabusiness.com/berry-hill-megasite-data-center-stack-infrastructure/
An investment buyer has purchased the 927,500-square-foot Morgan Olson manufacturing facility at the Cane Creek Centre industrial park in Pittsylvania County, according to an announcement distributed Thursday by Glen Allen based...https://virginiabusiness.com/investor-buys-morgan-olson-plant-pittsylvania-county/
Property Facts
| Price | $1,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 26.00 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | SR & ZR | ||
| Price | $1,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 26.00 AC |
| No. Stories | 1 |
| Zoning | SR & ZR |
1 Lot Available
Lot
| Price | $1,500,000 | Lot Size | 26.00 AC |
| Price Per AC | $57,692.31 |
| Price | $1,500,000 |
| Price Per AC | $57,692.31 |
| Lot Size | 26.00 AC |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $217,800 | |
| Land Assessment | $42,900 | Total Assessment | $260,700 |
Property Taxes
Parcel Numbers
Land Assessment
$42,900
Improvements Assessment
$217,800
Total Assessment
$260,700
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234 Eastwood Dr - 26+/- Acres Zoned for MultiFamily Development