Richmond, VA, 23234 - For Sale By Owner

Additional features:

Nice Commercial Property with House at Busy Chesterfield Intersection Next to Wawa!

Two Commercial Parcels Right Next to it Selling for $1.6 Million and $2.8 Million!

Check Out the Full Commercial Report Done for the $1.6 Million Dollar Property Here!

5214 and 5232 Cogbill Road (Next door to Wawa)
Richmond, VA 23234

Only $149,900!!!

Potential Residential Rental Income $1,200/Month
Commercial Use has Very High Income Potential 

There are two parcels of land with big-time commercial potential next door to Wawa. The piece at 5232 Cogbill Road is .13 acres and is currently zoned C-3 (Highest non-industrial zoning). It has a few sheds on it and is otherwise considered raw land. It is located at the corner of Cogbill Road and Ironbridge Road next to Wawa. 5214 Cogbill Road is .43 acres and is currently zoned single family. It has a 1500 SF home located on it. The house currently uses well and septic although public water and sewer is available at the street. The house needs approximately $25,000 in repairs to rent and approximately $35,000 in repairs to retail. The residential retail ARV is approximately $175,000.

The highest and best use for these properties is commercial of some kind. There is tremendous value in being next door to Wawa. We had a preliminary study done by a 3rd party that indicates that Chesterfield County supports commercial rezoning for the parcel with the home. They will also support reducing the minimum setback requirements for building commercial structures by increasing the landscaping. Any future commercial use will require the developer to connect to public water and sewer, which is available at the property. This is not necessary if you use the home for its existing residential use.

Whether you are interested in developing the land for commercial use now or would like to rent the house and wait for the long term appreciation, this is a once in a lifetime chance to be at the right place at the right time. Because this is such a unique investment property we have provide both retail and commercial comps. Since there are many types of potential commercial uses we included several different types of commercial comps.

Sold Commercial Comps

6116 Ironbridge Road Convenience Store .82 acres 12/26/08 $808,824
4820 Ridgedale Raw Land O-2 Office .95 acres 09/15/08 $225,000
6501 Ironbridge Place Conv. Store 2.18 acres 10/15/08 $1,200,000

Sold Residential Comps

6119 Howell Drive 900 SF 2BR/1BA 01/30/2009 $141,500
2204 Shirleydale Avenue 1414 SF 3BR/2.5BA 03/23/2009 $188,000 4812 Arundel Avenue 1038 SF 3BR/1BA 02/05/2009 $148,000

 Don’t miss this one of a kind opportunity!

Contact Greg at (804) 565-9723 or by email at info@EagleHouseDeals.com. To get more details visit EagleHouseDeals.com.

 
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