Description
SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS. Live in one unit and receive rental income from the rest! A very rare offering in Rappahannock County - 11947 & 11951 Lee Hwy, together for sale as 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 unused spaces, bringing current 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.
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4BEDS
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1.37ACRES
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2BATHS
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11/2 BATHS
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1,260SQFT
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$444$/SQFT
Description
SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS. Live in one unit and receive rental income from the rest! A very rare offering in Rappahannock County - 11947 & 11951 Lee Hwy, together for sale as 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 unused spaces, bringing current 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.
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