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Mixed-Use Land for Sale in Lexington, Virginia

N Lee Hwy, Lexington, VA 24450

$3,500,000
129 acres
Active sale
Est $24,175/mo

130+ Acres near Lexington, VA bordering both Rt 11 N and I 81S and within 2 miles of the I64 W interchange. High visibility, great accessibility, public water, sewer & high speed internet available and a natural gas line crossing the property which could be tapped for high volume users. A commercial entry is already installed and ready for roadways to be extended to the numerous potential building sites on the property. Currently zoned B-1 and Ag Transitional with the opportunity for varied usages ( light manufacturing, commercial, retail, restaurants, hotels, multi family and single family housing) or a combination of many. This is one of the largest and most desirable parcels along I 81 accessed not by a service road but a highly traveled US highway. Sold in total but buyer can divide. There is opportunity here for a well planned business park, retail center, sports fields, restaurants & hotels with plenty of room left for much needed apartments, condos, patio homes etc. The land lays in such a way as to allow for multiple uses which could compliment each other. The location can be accessed in less than 20 minutes from almost any part of Rockbridge County and a good portion of Augusta. This property fronts on both Rt 11 and I 81 and has had some out conveyances which were surveyed when sold several years ago so several boundary lines are established. There is not a current field survey but local surveyors Perkins and Orrison have prepared a composite plat reflective of the parcels for sale.

Location

Street address
N Lee Hwy
Zip code
24450
Community
Rockbridge
Elevation
1,184 feet
Coordinates
37.827, -79.3811

Directions

From Lexington, Rt 11 North for approximately 4 miles. Property on the right

Property details

Acreage
129 acres
Zoning
Business
MLS #
LBVRAR 138882
Posted

Property taxes

Recent
$5,200

Parcels

  • 62 5 1
  • 62 5 1H
  • 62 5 1 J

Legal description

Details and features

Listing

Type
Land

Exterior

Features
Hardwoods, View-Mountain, View-Valley

Structure

Water
Public
Sewer
Public Sewer

Nearby schools

NameType
FairfieldElementary
Maury RiverMiddle
Rockbridge CoHigh

Listing history

DateEventPriceChangeSource
Oct 22, 2024New listing$3,500,000—LBVRAR
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This 129-acre property is located at N Lee Hwy in Lexington, VA 24450. The land is available for sale, priced at $3,500,000 — $27,132 per acre.

Listed by James River Realty - Lexington, (540) 463-2117

Checked 1 hour agoUpdated Source

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