Virginia Subdivision $1.2M value priced at $399K
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Valery Estabrook
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Virginia Subdivision $1.2M value priced at $399K

Asian Pear Way, Natural Bridge , Virginia 24578 - Rockbridge County
$399,000 62 Acres
Property ID 6268366

Description

A Developer's Dream! Under market pricing for quick sale, excellent opportunity for anyone experienced or new looking for low-risk and low-investment in real estate development. All property lines already parceled out, road paved and state managed. Selling because of death of previous developer. Take advantage of this unique opportunity while you can!

62 Acre Orchard Place subdivision is located in Rockbridge County, Virginia located just 8 miles south of historic Lexington (home to Washington & Lee University and Virginia Military Institute), and 4 miles north of Natural Bridge State Park. The property is nestled between a picturesque horse farm, a family owned orchard, and rolling hay fields. 3 hours from Washington, DC/Arlington, 1 hour from Charlottesville, 1 hour from Roanoke, 1 hour from Harrisonburg, 2.5 hours from greater northern Virginia. Lexington is consistently named as one of the top small towns to live in the state, and this property sits just a short drive away from the city limits in one of the most gorgeous locations of the county. Beautiful rolling hills with 360 mountain views. Convenient access to I-81 and I-64. Desirable location, great for families associated with one of the many universities in the area, an excellent place to retire, or even a young family. Get in from the ground up in an area that is sure to grow, especially as property values rise all over Virginia.

Valued at over $1.25M, asking $399K for quick sale due to unexpected death of previous owner/developer. The subdivision currently has six built and privately owned homes that are not included in the sale. Three of these homes have been bought and sold in the past year, so this subdivision is primed and ready to grow. With most of the difficult ground work already done, the right builder or developer could easily multiply their investment by a factor of 5 or more.

The property consists of 15 undeveloped lots ranging in size from .44 acres to 2.61 acres, along with 47.8 acres of open space. Each lot is valued at $50-90K (based on previous, actual lot sales). Lots may be re-configured or further subdivided with zoning office approval. 16 parcels total included in sale plus ownership of LLC that owns and controls onsite wells and drainfields. LLC owns the two onsite wells, three drainfields and all associated components. Recently inspected and appraised infrastructure valued at over $269K. Orchard Place subdivision has its paved roads state maintained (great value!) with direct access from US-11.

Directions

Exit 180B off of I-81 - go one mile north on US-11 and turn left onto Orchardvale Way where Orchard Place's sign sits at the main road.

Land

Land Type
Crops

Present Use
Residential Single

Proposed Use
Residential Single

Lot Description
Acreage
Pasture
Some Trees
Subdivision

Property Tax Exemption
Yes

Road Frontage Desc
Asphalt
County

Number of Wells
2

Property Type
Single Family

Street/Utilities
Asphalt
Private Sewer Co.
Private Water Co.
Underground Utilities
Well

Tax Data (Show Tax Data)

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Valery Estabrook

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