Commercial Land for Sale in Spencer, Virginia

Income Producing US-58 Commercial Property – Tenant + Billboard Revenue (~8% Gross Return) Affordable commercial investment opportunity with existing income and strong highway visibility. Located along A.L. Philpott Highway (US-58) in Spencer, Virginia. This property offers excellent road frontage and steady traffic exposure in a well-traveled corridor of Henry County. The property is currently leased to a tenant on a month-to-month basis. In addition to the building tenant, the property also features a billboard that is leased annually to a local church, creating an additional source of income. Combined income from the tenant and billboard is estimated at approximately $12,000 annually, representing an estimated ~8% gross return at the current list price, with potential upside through future lease adjustments or expanded use. This 1 1/2 acre site has historically operated as an automotive and tire service location and is well suited for automotive service, contractor operations, equipment sales, small retail, or other service-based businesses. Strong highway visibility and easy access make this location attractive for a variety of commercial uses. Conveniently located with access to Martinsville, Bassett, and surrounding communities, This property presents an excellent opportunity to acquire a commercial asset with immediate income, visibility, and long-term flexibility. Income: ~$12,000/year Gross Return: ~8% Tenant: Month-to-month Additional Income: Billboard lease