Tag: Karnes Creek

Karnes Creek Commercial/Hotel Development Opportunity

This 4.87 acre undeveloped commercial property is situated along Interstate 64 with frontage along the interstate. The site is cleared and zoned for business. With significant new development planned and underway, this interstate interchange represents a significant opportunity for commercial and hotel development. In addition to the hospital and government complex located at the interchange, a major new industrial/commerce park is under development and a housing development with over 95 units is nearing completion. All of the new growth at this location, in addition to the abundant tourist attractions and organized events demand additional hotel and commercial support.

» 4.87 acre cleared, undeveloped
commercial property is situated
on an interchange fronting
Interstate 64 in Virginia.
» Visible from Interstate 64
» Zoned B-1
» Located in an Opportunity Zone
offering a tax advantaged
investment opportunity
» Located within an Enterprise
Zone offering diverse
development incentives
» Located adjacent to the entrance of
LewisGale Hospital–Alleghany,
a regional hospital
» Adjacent property, a former
restaurant, potentially available

Site sheet available click here.

Site Work for New Apartment Complex near YMCA underway

View looking from parking lot of the YMCA in the direction of the Karnes Creek site at Exit 21 on I64 in Low Moor VA.

Work on the site for a 48-unit apartment complex in the Low Moor area of Alleghany County VA has begun. The apartments are being constructed on property near the YMCA by Robert Fralin, a Roanoke developer.

The new apartments will be situated near the YMCA at river’s edge diagonally across from the point where Karnes Creek joins the Jackson River.

River Retreat Apartments now available for lease.
For more information click here.

4.87 acre Karnes Creek Site featured in Alleghany Highlands Investor Prospectus

Karnes Creek in Low Moor, Virginia is an undeveloped commercial property. The site is situated along the east bound ramp at Exit 21 I64. The property is cleared with approximately 556 feet of frontage on Virginia State Route 696, Selma-Low Moor Road and 339 feet on Route 1312, Karnes Road. Karnes Creek is zoned for business. It is listed on page 35 in the Alleghany Highlands Investor Prospectus. Downloaded the full prospectus here.

Alleghany-Highlands-OZ-2.1.21-1-1Download

The newly released prospectus highlights potential projects positioned to provide investors with an understanding of the development opportunities in the Alleghany Highlands. These projects have been identified by engaging critical partners and stakeholders to activate these opportunities. The projects align well with the Opportunity Zone incentive. Download or Click here to access the prospectus.

Consider Karnes Creek for Opportunity Zone investment

Real estate and commercial property in designated opportunity zones provide interesting tax advantaged investment opportunities.  The 4.87 acre Karnes Creek site is just such a possible opportunity zone investment.  This undeveloped commercial site is situated along the east bound ramp at Exit 21 I-64 in Low Moor VA. It lies within the opportunity zone certified in Alleghany County.

The 4.87 acre Karnes Creek site warrants your consideration as an Opportunity Zone investment and the chance to defer, reduce, and eliminate taxes on capital gains.
The Karnes Creek investment opportunity is located diagonally across the interstate from the newly opened Love’s Travel Stop location. The site is cleared with approximately 556 feet of frontage on Virginia State Route 696, Selma-Low Moor Road and 339 feet on Route 1312, Karnes Road. Site is zoned B-1 for business.

Invest in Opportunity Zones

The federal Opportunity Zone program enacted as part of the Tax Cuts and Jobs Act of 2017 allows investors to create Opportunity Funds to direct tax-advantaged investments to one or more opportunity zones like that in Alleghany County.  Investments are required to be equity investments in business or real estate within an opportunity zone.

Enjoy material tax benefits. Reduce capital gains

Opportunity zone investment offers investors the chance to defer, reduce, and eliminate taxes on capital gains. To be eligible for the tax benefits, their capital gains have to be invested in low-income census tracts that have been designated as opportunity zones. More than 8,700 census tracts in the U.S., including 212 in Virginia, have been officially identified as opportunity zones.

Opportunity Zones offer tax advantaged investment opportunities in both business and real estate. Karnes Creek in Low Moor VA is just such an opportunity.

For information about Opportunity Zone investment in real estate and business contact :

Alleghany Highlands Economic Development Corporation
9212 Winterberry Avenue, Covington, VA 24426.
540-862-0936
info@ahedc.com

Opportunity Zones in the Roanoke Region of Virginia

Karnes Creek

  • Aerial view of Karnes Creek site looking west to east.
    Karnes Creek site on I64 at Exit 21 in Low Moor VA. Aerial view looking west to east.

The 4.87 acre Karnes Creek site warrants your consideration as an Opportunity Zone investment and the chance to defer, reduce, and eliminate taxes on capital gains. Come see the site with us.

Karnes Creek Investment Company, LLC
P. O. Box 635, Clifton Forge, VA  24422
Email:  karnescreekland4sale@gmail.com
Tel:  540-960-1135

www.facebook.com/karnescreekllc/

Are you Developer or Builder?

One can be both a developer and builder. Still, they are different tasks. “Development” means taking the raw land and preparing it for new construction (such as installing utilities — water, sewer, and electric). “Building” is erecting the structure.

Which are you? Developer or Builder?

Developer or builder, or both? Photo of construction of the now completed and open Love’s Travel Stop at Exit 21 I64 Low Moor VA
Karnes Creek zoned for business.

Whether you lean one way or the other, or see yourself as both, Karnes Creek Investment Company LLC has a 4.87 acre site at Exit 21 that’s ready for development.

The Karnes Creek site is situated diagonally across from the Love’s Travel Stop on the same side of the I64 interstate as LewisGale Hospital — Alleghany. The property qualifies as a tax advantaged opportunity zone investment with the chance to defer, reduce, and eliminate taxes on capital gains.

The Cat & Owl restaurant property adjoins the Karnes Creek site at Exit 21 in Low Moor VA.

The acreage is plenty big enough for an office building, hotel/motel, or medical center. B-1 zoning in Alleghany County VA lists nearly 30 different acceptable uses. Any one of which could be a fit.

So, then it comes down to what you can envision? Come talk to us. Take a look around our website and then let’s walk over the site and kick some dirt together. Call 540-960-1135.

Need a Launch Site for your Business?

Karnes Creek and Cat & Owl properties offer a launch site for your business at Exit 21 I64 in Low Moor VA
Is one, or both, of these properties a launch site for your business?

The 4.87 acre Karnes Creek site offers the perfect launch site for your business. This is a prime commercial location in the center of the Alleghany Highlands. The site is diagonally across I64 from the newly opened Love’s Travel Stop at Exit 21. We invite your calls and emails and encourage you to contact us with any questions.

Email karnescreekland4sale@gmail.com or call 540-960-1135.
Visit us on facebook at#karnescreekllc

Spurrier Consulting recommends 62-room Sleep Inn

A feasibility study by Spurrier Consulting recommends a 62-room Sleep Inn & Suites (a Choice Hotels franchise) at the Exit 21 I64 interchange in the Alleghany Highlands.

“We have reviewed the lodging market in Low Moor which included the nearby communities of Covington and Clifton Forge. There is a lack of franchised hotels along this stretch of I64.”

The need for new lodging accommodations in the Alleghany Highlands is further confirmed by a 2017 assessment by VTKnowledgeWorks. This assessment concludes that there is currently a need for an additional 230 rooms of above average or better quality in the region.

The Spurrier Consulting study dates back to 2008-2009.

Robust spring on Karnes Creek site once part of Lipsey & Meade Water System

The robust spring on the 4.87 acre Karnes Creek site was once part of the Lipsey & Meade Water System serving Low Moor VA and the surrounding area.

The Lipsey & Meade Water System was sold to Alleghany County VA in September 1974 by Virginia Meade and Martha B. Lipsey for $5,000 cash in hand.  Reference Deed Book 211 page 612 and Plat Book 24 Page 290 in the Alleghany County VA Courthouse.

Plat Book 24 Page 290 Lipsey & Meade Water System conveyed to Alleghany County VA (partial).

The sellers did grant and convey any franchise or exclusive right to serve any water customer located in what is commonly known at the Low Moor (Lowmoor) area in Alleghany County.  By this conveyance it was intended that the sellers, their heirs, personal representatives and assigns would not engage in the sale of water for residential purposes within a radius of five miles from the then existing Central School located within the village of Low Moor.  The sellers, however, did reserve the right to sell water to any individual or corporation where said water would be used for non-residential purposes.

The parties to the sale further agreed that the spring and spring house situated on what is today the 4.87 acre Karnes Creek property were expressly excluded from the sale of the water system.

The robust spring on the Karnes Creek property in Low Moor VA runs cold and clear.  The spring (actually 3 springs) forms a pool approximately 30 feet wide by 100 feet long which overflows as a perennial stream to join Karnes Creek.  The abandoned brick pump house may still be found on the eastern side of the spring pond.

The Karnes Creek site consists of 4.87 acres and has approximately 556 feet of frontage on the Selma-Low Moor Road (State Route 696) and 339 feet on Karnes Road (State Route 1312).  The site is situated at Exit 21 on I-64 in Low Moor VA and is visible from the interstate.  This commercial site is zoned B-1.

Karnes Creek Land For Sale
For More Information Contact:

Karnes Creek Investment Company, LLC
P. O. Box 635, Clifton Forge, VA  24422
Email:  karnescreekland4sale@gmail.com
Tel:  540-960-1135

www.facebook.com/karnescreekllc/

Karnes Creek site in Low Moor VA and major cities

Karnes Creek 4.87 acre site in Low Moor VA

Cleared site with approximately 556 feet of frontage on Virginia State Route 696, Selma-Low Moor Road and 339 feet on Route 1312, Karnes Road.   The Karnes Creek site in Low Moor VA is at east bound ramp at the Exit 21 I64 interchange across the highway from the new Loves Travel Center now under construction.  Site is zoned for business.

In Alleghany County between Clifton Forge and Covington, VA

Lewisburg, WV; Lexington and Roanoke, VA are 35 minutes to under an hour away.  Interstates 64 and 81, Virginia State Routes 60 and 220 offer corridors in and out of the area.

The site is in an Enterprise Zone and Foreign Trade Zone. Details.

New signs on the perimeter of the Karnes Creek site at Exit 21 I-64 Low Moor VA direct potential buyers to the website and detailed information.

Karnes Creek Land for Sale
For More Information Contact:

Karnes Creek Investment Company, LLC
P. O. Box 635, Clifton Forge, VA  24422
Email:  karnescreekland4sale@gmail.com
Tel:  (540) 960-1135

 

Is it big enough?

Is it big enough? It comes down to what you are building.

Four acres is plenty big enough for an office building, hotel/motel, or medical center. B-1 zoning in Alleghany County VA lists nearly 30 different acceptable uses. Any of which could be a fit.

So, then it comes down to what you are building…and what you can envision?

174,240 square feet of land. That’s 4 acres. Take 10 percent of that total for setbacks, easements, storm water control, and other factors and that brings the area down to 156,816 square feet of buildable area. Assign 30 percent of that area to access lanes and parking for customers, guests, or employees and the square footage drops to 109,771 or just a bit more than 2 1/2 acres – about the size of your average city block. That’s a good size piece of ground for buildings and green space.

The 4.87 acre Karnes Creek site in Low Moor VA…is it big enough?  It comes down to what your are building and what you can envision.

Aerial view of Karnes Creek site at Exit 21 in Low Moor VA

Karnes Creek site at Exit 21 I64 in Low Moor VA

Karnes Creek Land For Sale
For More Information Contact:

Karnes Creek Investment Company, LLC
P. O. Box 635, Clifton Forge, VA  24422
Email:  karnescreekland4sale@gmail.com
Tel:  540-960-1135

www.facebook.com/karnescreekllc/