Income producing land! 25.6 +/- acres of mostly timber with 2,000+/- feet of road frontage on the west side of Lankford Highway in Bloxom, VA. The ownership has six active metal/concrete built billboard signs on the road frontage that produce $2,350 per sign each year through Chesapeake Outdoor. Total annual income is +/- $14,100 with future escalation. The current lease rate is good through March 31, 2028 and will be increased to $2,500 per sign per year from April 1, 2028 through March 31, 2033. Great opportunity to own significant road frontage along route 13 with significant passive income.
Price
$320,000
ACCOMACK
VAAC2000756
Active
Description
Income producing land! 25.6 +/- acres of mostly timber with 2,000+/- feet of road frontage on the west side of Lankford Highway in Bloxom, VA. The ownership has six active metal/concrete built billboard signs on the road frontage that produce $2,350 per sign each year through Chesapeake Outdoor. Total annual income is +/- $14,100 with future escalation. The current lease rate is good through March 31, 2028 and will be increased to $2,500 per sign per year from April 1, 2028 through March 31, 2033. Great opportunity to own significant road frontage along route 13 with significant passive income.
Listing Information
Property Type: Land, Other
25.6 Acres
Estimated
09/27/2023
None
No Septic System
Timber,Other
Neighborhood
School Information
District: ACCOMACK COUNTY PUBLIC SCHOOLS
Room Information
Exterior / Lot Features
GENERAL BUSINESS
Driving Directions
Heading South on Lankford Hwy, The property will be on your right just before the town of Nelsonia.
Financial Considerations
Fee Simple
NO TAX RECORD
$431
Listing Price History
Bloxom Real Estate
Bloxom is located in Virginia.
Bloxom, Virginia 23308 has a population of 379.
The median household income in Bloxom, Virginia 23308 is
$46,914.
The median household income for the surrounding county is $49,839
compared to the national median of $66,222.
The median age of people living in Bloxom 23308 is 45 years.
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Courtesy: The Land Group
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
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