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.
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.
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