11947 LEE HIGHWAY, Sperryville, VA 22740

$565,000

Overview

Property ID: VARP2002052

Other, Residential Income
Property Type

1900
Year Built

VARP2002052
MLS#

Description

SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS.
Cross listed as multi-family (VARP2002052) & single family ( VARP2002162) as grandfathered residential in a commercial zone.
A very rare 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 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.