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685 Commonwealth Dr
Norton, VA 24273
1.26 AC Walmart Outparcel · Land For Sale
·
1.26 AC
Investment Highlights
- The site is zoned B-3 General Business District, permitting a wide variety of commercial development opportunities.
- Surrounding commercial users include national retailers, restaurants, and service providers that contribute to established consumer activity.
- Nearby institutions include the University of Virginia’s College at Wise and Norton Community Hospital.
- The property is located near U.S. Route 23 with reported traffic counts of approximately 20,632 vehicles per day.
- The location provides access to Norton’s primary retail corridor and regional transportation network.
- The property is positioned within a regional trade area serving Wise County and surrounding Appalachian communities.
Executive Summary
Property Facts
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.26 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | ||
| Zoning | B-3 - General Business District | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.26 AC |
| Opportunity Zone |
Yes |
| Zoning | B-3 - General Business District |
1 Lot Available
Lot
| Price | $499,000 | Lot Size | 1.26 AC |
| Price Per AC | $396,031.75 |
| Price | $499,000 |
| Price Per AC | $396,031.75 |
| Lot Size | 1.26 AC |
The 1.26-acre property is zoned B-3 General Business District, allowing a broad range of commercial uses including retail, office, hospitality, financial services, and medical uses.
Description
The property benefits from direct access to Commonwealth Drive and proximity to U.S. Route 23, one of the primary transportation corridors serving Southwest Virginia. Traffic counts reported near the site include approximately 20,632 vehicles per day along U.S. 23, supporting visibility and accessibility for future commercial operations. Nearby commercial activity includes national and regional retailers, restaurants, and service providers such as Lowe’s, Harbor Freight, Food City, Belk, Marshalls, Advance Auto Parts, Applebee’s, Sonic, and Tractor Supply, reinforcing the property's position within a recognized retail destination. Norton serves as a regional retail and service hub for Wise County and surrounding Appalachian communities. The property is also located near the University of Virginia’s College at Wise, Norton Community Hospital, and other major employers that contribute to area employment and consumer activity. These surrounding demand generators, combined with established transportation infrastructure and commercial development patterns, support a variety of potential development strategies for the site.
