INVESTMENT OPPORTUNITY as an income-producing property or Owner-Operator with income offset. Marshall is a charming small town that is going through a renaissance with new business development and Van Metre's new homes (400+). Excellent Investment Opportunity in a growing town with the revitalization of Main Street right between two exits on I66 (exit 17&18) less than 60 miles from DC Area. Options abound for this property in Northern Piedmont. You can continue to lease the property just as it sits as an income producer or make the upgrades to the property as a destination in this 2nd largest town in Fauquier County. Horse country, rolling hills, open spaces, wineries, and quaint small-town living add to the lure of Marshall. There are many possibilities to complement existing businesses. Tourists drive by heading to Skyline Drive or commuters return home from a busy day in Northern Virginia. Marshall Town zoning (town overlay zoning) is more flexible allowing the property to combine commercial space and multiple residential units. 100% occupied on approximately .57ac. "Marshall Town" zoning is more flexible for Main Street towns combining commercial with residential to create a "downtown" environment. The building is 5422sf on an approx .57 acre lot. The new easement is 10ft walking path along the western fence line for the new homes to access Main Street making this property a prime location. The retail front commercial space +/-2200sf with all the back historically commercial space totals +/-3000sf. The current retail tenant has all the commercial space. The remaining square footage is historically residential apartments with annual leases. The current zoning use of the commercial space is for a general contractor's office and a retail store with back office space (Hemp Store with 3-year lease with 2 renewals - NN), and residential units (tenants with annual leases). The store tenant pays electricity and a CAM payment monthly (trash & WSA). Residential Tenants pay metered electricity and communication expenses. The Landlord's expenses are water/sewer, trash, taxes, and insurance. The property sold is "AS IS" and subject to current residential and commercial leases. All VDOT & County documents have been finalized and recorded. A new property description is to be recorded in order to document the long history of the title corrections. Please inquire with questions and come see this property. Thank you for your interest.
239.760 per sqft
Built in 1929
Disclaimer: The information contained in this listing has not been verified by United Real Estate Horizon and should be verified by the buyer.Information provided by BRIGHT