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    Address Not Available By Request

    Chesterfield, VA 23831
    • $785,000
    • STATUS: Active
    • ON SITE: 47 days
    • MLS #: 2018848
    UPDATED: 60 min ago
    $785,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1984
    County:

    School Ratings & Info

    Description

    Value-Add/Opportunistic investment strategy located off highly sought-after Route 10 (Iron Bridge Rd) in Chester, VA. The Gray Professional Building, with road frontage, boasts a strategic opportunity to increase current rent structures while also affording a development option on the back portion of the property. This additional development option can drastically change cash flow and put your investment into core investment territory following a three to five-year holding period. There is currently one tenant vacancy in Unit D, with an additional scheduled to exit August 1st, 2020 from Unit A. Unit A was combined with previous Unit B to form one large 2000 sq. ft. space, however, can easily be reversed to its original form to secure an additional unit for six total. Utilize one of the spaces as an owner-occupied investment strategy, or simply restructure leases and fill units to enjoy a 7%+ cap rate. Finalize renovations, increase rents, split Unit A, develop back portion of the lot and increase cap rate to an estimated 9.5%+! Turn this opportunity into a core investment, then re-sale to secure massive property appreciation in a very sought-after region of central RVA.

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    All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2020 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2020-08-11T18:57:23.64.
    www.bestrvahomes.com/homes/107157227
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    Address Not Available By Request Chesterfield, VA 23831

    • Price: $785,000
    • Status: Active
    • Updated: 60 min ago
    • MLS #: 2018848
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1984
    Built
    Neighborhood:
    54 - Chesterfield
    County:
    Chesterfield
    Area:
    54 - Chesterfield
    Property Description
    Value-Add/Opportunistic investment strategy located off highly sought-after Route 10 (Iron Bridge Rd) in Chester, VA. The Gray Professional Building, with road frontage, boasts a strategic opportunity to increase current rent structures while also affording a development option on the back portion of the property. This additional development option can drastically change cash flow and put your investment into core investment territory following a three to five-year holding period. There is currently one tenant vacancy in Unit D, with an additional scheduled to exit August 1st, 2020 from Unit A. Unit A was combined with previous Unit B to form one large 2000 sq. ft. space, however, can easily be reversed to its original form to secure an additional unit for six total. Utilize one of the spaces as an owner-occupied investment strategy, or simply restructure leases and fill units to enjoy a 7%+ cap rate. Finalize renovations, increase rents, split Unit A, develop back portion of the lot and increase cap rate to an estimated 9.5%+! Turn this opportunity into a core investment, then re-sale to secure massive property appreciation in a very sought-after region of central RVA.
    Exterior Features

    Construction Materials Brick Lot Features Level Road Responsibility Public Maintained Road Roof FlatShingle Topography Level

    Interior Features

    Basement YN No Building Area Total 6120 Heating Zoned Heating YN Yes

    Property Features

    Possible Use Medical/Dental Property Condition Good Condition Sewer Septic Tank Water Source Public

    Listing courtesy of Keller Williams Midlothian. Listing information © 2020 CVRMLS and CBRAR.


    All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2020 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2020-08-11T18:57:23.64.
     
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    Treehouse Realty VA | Long and Foster
    1100 Jefferson Green Circle
    Midlothian VA, 23113