11947 LEE Highway
Property Description
SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS. 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.
Broker Details
Cheri Woodard Realty (540) 987-8500
MLS ID: 3342588 State License Number: 0225261124
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $559,000 |
| No. of Units: | 4 |
| Year Built: | 1900 |
| Lot Size: | 1,260.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $139,750 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-TRENDPA-VARP2002446
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