For Sale

For Sale · Bordering Daniel Memorial Park in Downtown Danville

26+/- Acres Zoned for Multifamily Development

234 Eastwood Drive Danville Virginia 24540

Asking$1,500,000
Property Information
26+/- Acres Zoned for Multifamily Development

Property Highlights

234 Eastwood Drive | Danville, VA

  • High unit yield by right
  • Rural opportunity zone 2.0 eligible + located in a qualified census tract 51590001302
  • Site optionality:
    • In addition to conventional multifamily, the site would be suitable for Build to Rent, Mixed Income Apartments, or a phased multi-product development
  • Structural Undersupply:
    • Documented demand demonstrates the need for hundreds of new apartments in Danville, especially institutional quality communities to offset aging rental stock
  • Economic Inflection Point:
    • The regional economy has diversified beyond its legacy textile base into advanced manufacturing and logistics, technology, and healthcare

Parcel ID: 73476, 73479, 73480, 73481, 74469, 78385, 73475, 73477, 74513, 74518, 74539, 76296, 76299
Acreage: 26 AC
Zoning: SR & ZR

26 Acres Zoned By Right for High Density Multifamily with Utilities Available to the Site

Danville represents a classic early-cycle secondary market: accelerating job growth, measurable housing deficit, minimal institutional competition, and a local government aligned with residential expansion. New multifamily product delivered at today’s basis has the potential to achieve outsized stabilized yields relative to larger Virginia metros while benefiting from long-term regional economic diversification.

The city is now attracting advanced manufacturing, logistics, healthcare, and technology-driven employers, generating thousands of new jobs and positioning the region for sustained economic expansion. However, housing production has not kept pace with employment growth, resulting in a documented shortage of both rental units and single-family homes.

ECONOMIC DEVELOPMENT NEWS:

ABOUT DANVILLE, VA

  • Accelerated economic development through international recruitment: There are 11 companies with eight different foreign headquarters operating in Danville or just outside the city limits.
  • Danville was recognized internationally by FDI Intelligence as one of the Top 10 micro cities for economic potential.
  • The combination of strategic economic policies, community engagement, and infrastructure improvements have positioned Danville for continued employment growth and economic development.
    • Avio USA picks the Southern VA Multimodal Site for $500M, 860,000 SF solid rocket motor plant expected to bring more than 1,000 jobs.
    • Caesars Virginia: a major development transforming the City of Danville is Caesars Virginia, a resort and casino featuring a hotel, restaurants, and entertainment venues.
    • Southern Virginia Megasite at Berry Hill, Virginia’s largest megasite, lands the biggest project Southside has ever seen.
  • Cost of living:
    • 23% less than Northeast US
    • 40% less than Europe
  • Accessible:
    • 1 day’s drive to 60% of US Population and 2/3rd of the US Industrial Base
  • Skilled Workforce:
    • $68 million invested in scalable workforce

 

Images

Location

234 Eastwood Drive, Danville, VA, USA

Get Directions

Listing Agent(s)

Ryan Rilee

Associate Broker

Ryan’s practice at One South Commercial focuses on investment and development site sales throughout Virginia.  He brings a detailed, solutions-oriented approach to each transaction and has successfully represented a wide array of buyers and sellers on deals ranging from $1 million to $35 million. A Richmond native with a background in institutional real estate management, Ryan leverages a wide network of industry contacts and his experience “under the hood” to advise One South Commercial’s clients on everything from local sub-markets to national capital markets, and is ready and able to tackle anything in between.

  • Richmond Association of Realtors
  • Greater Richmond Association for Commercial Real Estate
  • Urban Land Institute
  • VA Department of Professional and Occupational Regulation
  • Real Estate Broker License
Communication
One South Commercial is the exclusive representative of Seller in its disposition of 234 Eastwood Drive | Danville, VA, 234, Eastwood Drive, Danville, Virginia, 24540. All communications regarding the property should be directed to the One South Commercial listing team.
Property tours
One South Commercial is the exclusive representative of Seller in its disposition of 234 Eastwood Drive | Danville, VA, 234, Eastwood Drive, Danville, Virginia, 24540. All communications regarding the property should be directed to the One South Commercial listing team.
Offers
One South Commercial is the exclusive representative of Seller in its disposition of 234 Eastwood Drive | Danville, VA, 234, Eastwood Drive, Danville, Virginia, 24540. All communications regarding the property should be directed to the One South Commercial listing team.

DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed

Skip to content