Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1980
Sq.Footage
N/A
Woodstock corridor of growth, just south of Downtown, next to Massanutten Military Academy. The property in front of this 5 acre parcel was previously approved SUP for a mixed use project, containing 48 apartments over commercial, paving the way for additional development at this site. SUP has expired July 2023, needs renewed! Add to this central location the much touted "Rails to Trails" project that runs along the western border of this property if and when it is finally approved. The 5 acres is improved by two houses, one apartment building and metal commercial building leased to a body shop and towing company. The property is fully leased contributing a current income of over $106,000. Terrific income, while you rezone this property with a TND Overlay plan and phase in your Multi-Family redevelopment project at this site. Asking price is $1,550,000 at a 6.8% Cap Rate. Below market rents and the Multi-Family development potential at this site makes this a project you will want to take a closer look at. Imagine the possibilities!
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Electric, None
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Vinyl Siding
-
Parking
None
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
4.97
-
Property Type
Commercial Sale
Price
-
Sales Price
$1,600,000
-
Tax Amount
5752.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Sewer
Public Sewer
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Location
County
SHENANDOAH
Elementary School
Middle School
High School
Listing Courtesy of James A Guisewhite , Commercial Specialists
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AGENT
Laurie Hailey
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