Tyler Rd at I-81, Radford, VA 24141 - Montgomery County

Prime Development Land, 9.275± Acres, Radford, Virginia, located at the intersection of I-81, Exit 109 (Radford University exit) and Route 177, Tyler Road. It has incredible visibility from I-81. It adjoins Carilion New River Valley Medical Center, one of two large hospitals located in Montgomery County, Professional Rehab Associates, and Southwest Virginia Physicians for Women.

This auction offers the buyer an opportunity to develop this highly desirable land according to his or her plans or to complete a carefully-designed development which is in the final stages of approval. The owner has created a development design with eight sub-parcels to be developed and/or sold and has worked closely with Montgomery County to obtain B-3, General Business, zoning with proffers that ensure the investment's long- term value. The Virginia Department of Transportation has reviewed the developer's plans to build a new Meadow Creek Road, vacate the old one, and has only minor comments remaining to be addressed. Appalachian Power, Division of American Electric Power has reviewed and approved the master grading plans.

In contemplation of completing the development, the owner has negotiated with businesses interested in the eight parcels. A franchisee of a major hotel/motel chain is ready to contract on a sub-parcel of the final development, as is a nationally recognized fast food retailer. Interest in the sub-parcels has been expressed by a convenience store chain with motor fuel sales and by restaurants. The results of market research that has been performed indicate that the development is appropriate for a pharmacy/drug store chain. There is sufficient water and sewer capacity to develop the property and utilities are available and readily accessible. The property is identified as Montgomery County Tax Parcels 002244 and 008938.