Monterey, Virginia Commercial Real Estate 0 Listings

Monterey, Virginia: A Premier Destination for Commercial Real Estate

Introduction

Monterey, Virginia, a small yet strategically positioned town, offers unique commercial real estate opportunities. Nestled in the heart of Highland County, Monterey boasts a robust agricultural economy, with emerging opportunities in tourism and renewable energy sectors. As a gateway to the Appalachian region, Monterey provides a distinctive blend of rural charm and strategic growth potential, making it an attractive destination for commercial real estate (CRE) investments.

Economic and Industry Overview

Monterey's economy is primarily driven by agriculture, with significant contributions from cattle farming and forestry. The town is also witnessing growth in the tourism sector, attracting visitors with its picturesque landscapes and historical landmarks. The emerging interest in renewable energy, particularly wind and solar projects, is beginning to shape new opportunities in the industrial property sector.

Local efforts, such as those by the Highland County Economic Development Authority, aim to diversify the economic landscape, fostering a supportive environment for businesses that can capitalize on Monterey's natural resources and strategic location.

Strategic Location and Transportation Infrastructure

Although Monterey is a small town, its strategic location offers several logistical advantages:

Highways: Access via U.S. Route 250 provides connectivity to major markets in Virginia and neighboring states.
Proximity: Close to the border with West Virginia, Monterey serves as a potential hub for cross-border trade.
Airports: While Monterey does not have a local airport, it is within driving distance of regional airports like Shenandoah Valley Regional Airport, enhancing connectivity for business travel.

These features make Monterey a viable location for distribution centers and businesses reliant on regional trade and logistics.

Commercial Real Estate Inventory & Zoning

Monterey's commercial real estate landscape is characterized by:

Submarkets: Predominantly rural, with developing areas for industrial and mixed-use properties.
Asset Classes: Opportunities exist in industrial, retail, and office spaces, with potential for agricultural tourism developments.
Zoning: Recent zoning adjustments aim to support mixed-use developments and renewable energy projects.

For detailed zoning information, visit the Highland County Zoning Map.

Major Employers and Institutions

Key drivers of commercial real estate demand in Monterey include:

Agricultural Enterprises: Large cattle farms and forestry operations.
Tourism-related Businesses: Including hospitality and outdoor recreation companies.
Institutions: Highland County Courthouse and associated government offices.

For a comprehensive business directory, refer to the Highland Chamber of Commerce.

Notable Commercial Developments & Projects

Monterey is home to several noteworthy developments:

Renewable Energy Projects: Ongoing efforts to expand wind and solar facilities.
Tourism Infrastructure: Expansion of lodging facilities to accommodate growing visitor numbers.

These projects are often supported by public-private partnerships and may be located within designated Opportunity Zones, promoting further investment.

Building Permits, Planning, and Development Tools

For developers and investors, the following resources are crucial:

Market Data & Economic Reports

Access to public data sets and economic reports is essential for informed decision-making:

Utilize U.S. Census Bureau for demographic and economic data.
Explore Highland County Open Data Portal for local insights.

Brevitas leverages AI-powered aggregation from these public sources and internal insights to provide a comprehensive view of Monterey's CRE market. Explore Brevitas-powered dashboards for detailed market analysis.