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
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.
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.
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.
A developer plans to build a 48-unit apartment complex in the Low Moor area of Alleghany County. The apartments will be constructed by Robert Fralin, a Roanoke developer. Fralin will purchase property for the complex from the YMCA.
Source: Virginian Review, Saturday, September 12, 2020
River Retreat Apartments now available for lease. For more information click here.
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 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
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
The Virginia Economic Development Partnership (VEDP) accepts Balchem Corporation with a location in Low Moor VA into its two-year Virginia Leader’s in Export Trade (VALET) program.
The program provides companies with export planning services
and assistance putting companies on the fast track for international business
growth.
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
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.
Williams Fabrication JENFAB is Business of the Year. The company was recognized by the Alleghany Highlands Chamber of Commerce and Tourism at its 40th annual dinner meeting and dance held March 30, 2019 at The Greenbrier Resort.
Known for skilled craftsmanship and tradesmanship
Williams Fabrication, Inc (dba Jenfab) has been in operation in the Alleghany Highlands for 25 years. The business prides itself on skilled craftsmanship and tradesmanship. It employs 31 full-time employees and numerous part-time employees. The company serves major corporations, small and medium size businesses, individuals and non-profits. Williams Fabrication JENFAB offers machining, fabrication, welding, Hammerhead calypso waterjet and a paint booth. Estimation and CAD design services are also available.
