188 Locust LN, Penhook, VA 24137
$1,400,000
Property Type:
Commercial
Lot Size (sq. ft.):
1,129,946
Status:
Closed
Current Price:
$1,400,000
List Date:
4/15/2019
Last Modified:
9/23/2024
Description
SMDL is a full service marina w/ boat launch, Grill/restaurant/snack bar, fuel, covered & uncovered rental boat slips, in addition to 7 efficiency rental units w/ kitchens & a 2BR single family rental home. There are also 2 more single family homes on-site, currently used by mgmt and the on-site boat rental operator. The property has room to grow and offers the possibility to place 50± cabins on-site or a 78± space RV park in the former mobile home park, now vacant, with well/water and septic/sewer infrastructure in-place.
This prime property is located near one of the busiest parts of SML, between SM Dam and Vista Point. Now bank owned, there is huge upside potential to make this a high income producer w/ vision for the future and on-site mgmt.
Motivated Seller. Price Reduced.
More Information MLS# 858085
General Property Description
Construction Status: Completed
Total Acreage: 25.94
Flood Area: Yes
On site Parking: Yes
Parking Spaces: 100
Water Class: Waterfront Property
Water ID: Smith Mtn Lake
Length of Waterfront: 1343
Lease Available: No
Location, Tax & Legal
Major Area: 16 - Pittsylvania County
Tax ID: 1563-53-1260
Annual Taxes: 2710
Area: 1690 - SML Pittsylvania County
Street Number: 188
Street Name: Locust
Street Suffix: LN
State/Province: VA
Zip Code: 24137
Municipality: Pittsylvania County
Remarks & Misc
Directions: From Penhook: 40 E Left on Old Mtn Rd. 1.5 mi & L on Smith Mountain Road. Go 2.4 mi R on Locust Lane and property is on your R. Property is located between R6 and R8 on the opposite side of lake.
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Metal Siding: 1
Vinyl: 1
Wood: 1
Commercial Type
Land Only: 1
Office: 1
Retail: 1
Views
Lake: 1
Mountain(s): 1
Business Type
Type of Business (Historical Field): Marina and Lodge
Sale Includes
Building & Land: 1
Additional LND Avail: 1
Water Description
Private Water: 1
Documents Available
Survey: 1
Topo/Aerial Map: 1
Sewer Description
Private Septic: 1
Manufactured Homes
No HUD Tag: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Internet Access
Cable: 1
Boat Dock Desc
A-Roof: 1
Water Features
Cove: 1
Topography
Slope: 1
Contract Information
Current Price: $1,400,000
Sold Price: $1,400,000
List Date: 2019-04-12
Status: Closed
Status Change Info
Ratified Contract Dt: 2020-04-02
Sold Date: 2020-05-19
Sold Price: $1,400,000
Property Features
Limited Service: Not Limited Service
Commercial Type: Land Only; Office; Retail
Sale Includes: Building & Land; Additional LND Avail
Construction: Brick; Metal Siding; Vinyl; Wood
Manufactured Homes: No HUD Tag
Water Description: Private Water
Sewer Description: Private Septic
Water Heater Type: Tank
Water Heater Energy: Electric
Internet Access: Cable
Documents Available: Survey; Topo/Aerial Map
Topography: Slope
Views: Lake; Mountain(s)
Boat Dock Desc: A-Roof
Water Features: Cove
Listing Office: WOLTZ & ASSOCIATES
Last Updated: September - 23 - 2024
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