754-758 S MAIN ST Under Contract Save Request In-Person Tour Request Virtual Tour
Woodstock,VA 22664
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID VASH2003966
Annual Tax Amount $5,752
Tax Year 2022
Lot Size 4.930 Acres
Property Description
Woodstock corridor of growth, just south of Downtown, next to Massanutten Military Academy. The property in front of this 5 acre parcel was previously approved SUP for a mixed use project, containing 48 apartments over commercial, paving the way for additional development at this site. SUP has expired July 2023, needs renewed! 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 rezone this property with a TND Overlay 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 Multi-Family development potential at this site makes this a project you will want to take a closer look at. Imagine the possibilities!
Location
State VA
County Shenandoah
Zoning B2
Exterior
Utilities Available Cable TV Available,Electric Available,Natural Gas Available,Sewer Available,Water Available
Waterfront N
Water Access N
Building
Lot Description No Thru Street,Level,Irregular,Backs to Trees
Sewer Public Sewer
Water Public
Schools
School District Shenandoah County Public Schools
Others
Special Listing Condition Standard