Description
Woodstock corridor of growth, just south of Downtown, next to Massanutten Military Academy. The property in front of this 5 acre parcel was just approved for a mixed use project, containing 48 apartments over commercial, paving the way for additional development at this site. 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 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 Muti-Family development potential at this site makes this a project you will want to take a closer look at. Imagine the possibilities!
Location
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 28th March, 2023 8:50 AM (UTC)
