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592 Valley Pike
Lexington, VA 24450
Multifamily Development Land · Land For Sale
·
12.50 AC
Investment Highlights
- Conditionally Rezoned (R-MF) for 70 Apartments.
- 3 Phase Power.
- Natural Gas Line Access .
- Potential to Add Additional Units.
- Public Water/Septic.
Executive Summary
12.5± acres in Rockbridge County, adjacent to Lexington in Virginia’s Shenandoah Valley. The site offers access via Northwind Lane beside Devils Backbone and is zoned R-1 with conditional R-MF approval for 70 apartments, with potential for additional units. Located only minutes from Virginia Military Institute and Washington & Lee University, and close to area retailers, the property is positioned for multi-family development in a growing market.
Property Facts Under Contract
1 Lot Available
Lot
| Price | $600,000 | Lot Size | 12.50 AC |
| Price Per AC | $48,000.00 |
| Price | $600,000 |
| Price Per AC | $48,000.00 |
| Lot Size | 12.50 AC |
12.5-acre site in Rockbridge County, VA near Lexington, zoned R-1/R-MF for multi-family; minutes from VMI and W&L University.
Description
12.5 acres located in Rockbridge County, VA, just outside of the City of Lexington in the Central Shenandoah Valley. Property access is on Northwind Lane next to Devils Backbone. Zoned R-1, Conditionally rezoned (R-MF) for 70 apartments with potential to add additional units. Only minutes from Virginia Military Institute, Washington & Lee University, and in close proximity to area retailers, this site is ideal for Multi-family development.
Property Taxes
| Parcel Number | 62-14-A2 | Improvements Assessment | $297,700 |
| Land Assessment | $209,100 | Total Assessment | $506,800 |
Property Taxes
Parcel Number
62-14-A2
Land Assessment
$209,100
Improvements Assessment
$297,700
Total Assessment
$506,800
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