1,260 SqFt
1,260 SqFt
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,260 sqft
Price per Sqft $443
MLS Listing ID VARP2002446
Style Cottage
Abv Grd Liv Area 1,260
Year Built 1900
Annual Tax Amount $2,149
Tax Year 2022
Lot Size 1.370 Acres
Acres 1.37
Property Sub-Type Detached
Source BRIGHT
Property Description
A very rare multi-family income generating offering in Rappahannock County - 11947 & 11951 Lee Hwy, together for sale on one parcel, present an outstanding opportunity for multi-family rental income. The sale includes two structures containing FOUR grandfathered residential units, ONE commercial unit. Further upside can be realized by finishing to lease unused spaces, bringing rents to market rate and even rehabbing an old fruit stand on the property.
This investment opportunity sits on the highly traveled Rt 211: a major artery seeing 2 million + vehicles per year and opportunistically near the Thornton Gap entrance to Shenandoah National Park. The property is zoned Highway Commercial, allowing for a multitude of by-right uses including short term rentals, retail, food service and hospitality.
Property is served by electric, propane, private well, town sewer and high speed is internet.
P&L available.
Location
State VA
County Rappahannock
Zoning HIGHWAY COMMERCIAL
Interior
Hot Water 60+ Gallon Tank
Heating Heat Pump(s)
Cooling Ductless/Mini-Split
Fireplace N
Heat Source Electric
Exterior
Utilities Available Propane, Electric Available, Sewer Available, Water Available
Water Access N
Roof Type Metal,Shingle,Asphalt
Accessibility 36\"+ wide Halls
Garage N
Building
Foundation Stone
Above Ground Finished SqFt 1260
Sewer Public Sewer
Water Well
Architectural Style Cottage
Additional Building Above Grade, Below Grade
Structure Type Dry Wall
New Construction N
Schools
School District Rappahannock County Public Schools
Others
Tax ID 38A 1 5
Ownership Fee Simple
SqFt Source 1260
Acceptable Financing Cash, Exchange, Contract, Conventional
Listing Terms Cash, Exchange, Contract, Conventional
Financing Cash,Exchange,Contract,Conventional
Special Listing Condition Standard
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