Marketing Description
Excellent investment opportunity, 17.82 Acres of commercial/residential land, five minutes from Richmond court house; added advantages being in an Opportunity Zone with low tax rate-1.5%.
Investment Highlights
- Prime Investment Potential: Situated within an Opportunity Zone, this property provides buyers with significant tax incentives that can enhance returns. Being in an Opportunity Zone means that investors can benefit from:
- Tax Deferrals: Delay paying taxes on previously realized capital gains by reinvesting them in a Qualified Opportunity Fund (QOF).
- Tax Reduction: Reduce deferred capital gains taxes after five and seven years of investment.\
- Tax Exemption: New gains accrued from the property may be entirely tax-free if the investment is held for a decade or more.
- Agricultural Exemption & Low Taxes: This property also carries an agricultural exemption, resulting in a significantly reduced tax rate. Combined with the financial incentives of the Opportunity Zone, this makes the property particularly attractive for those seeking cost-effective investment opportunities.
- Zoning Flexibility: The property is zoned for both residential and commercial uses, offering unparalleled flexibility for development. Some potential uses include: Residential
- Development: Build single-family homes, townhomes, or multifamily units.
- Commercial Projects: Ideal for retail storefronts, strip centers, or community centers.
