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Key Details
Sold Price $750,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 9,938 sqft
Price per Sqft $75
MLS Listing ID VASH2003970
Sold Date 04/14/23
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $2,927
Tax Year 2021
Lot Size 0.300 Acres
Acres 0.3
Property Description
Mixed use investment property along Main Street, Downtown Woodstock, VA. Much of the heavy lifting has been done on this project. The exterior detailing on the front of this building is first class and period correct. The property is made up of two commercial leased spaces and 3 fully leased apartments on the second floor, while the third floor is your value add. The space is gutted with new windows, ready to add several apartments for additional income. The property has storage space and an open court yard that could be a great amenity to the project. Off street parking and on street parking are available. Current NOI is estimated at $55,735 or a 7.2% Cap Rate at $775,000! Below market rents and a third floor for expansion makes this a terrific value add opportunity for a savvy investor.
Location
State VA
County Shenandoah
Zoning COMMERCIAL
Interior
Hot Water Electric
Heating Hot Water
Cooling Central A/C
Heat Source Propane - Leased
Exterior
Garage Spaces 6.0
Utilities Available Electric Available, Propane, Sewer Available, Water Available
Water Access N
Roof Type Metal
Accessibility 32\"+ wide Doors, 36\"+ wide Halls, Grab Bars Mod
Total Parking Spaces 6
Garage N
Building
Lot Description Rear Yard
Foundation Other
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Shenandoah County Public Schools
Others
Tax ID 045A2 A 304
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Hourieh Z Zamani • Spring Hill Real Estate, LLC.
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