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11947 Lee Hwy - Hill House & The Old Bus Repair Shop 5 Unit Apartment Building Offered at $775,020 CAD at a 5.01% Cap Rate Sperryville, VA 22740
INVESTMENT HIGHLIGHTS
- Rare Grandfathered Multi-Family Use in a Tight Rental Market
- High Visibility Property w/ over 2 Million vehicles per year (VDoT)
- Ample Upside Through Bringing Rates to Market & Finishing Unused Spaces
EXECUTIVE SUMMARY
A very rare multi-family income generating 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 to lease unused spaces, bringing rents to market rate and further 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.
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.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Oven
- Range
- Yard
- Garden
- Office
- Patio
- Porch
- Skylights
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4 | 4 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 38A-1-6B | Total Assessment | $285,336 CAD |
| Land Assessment | $124,722 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $160,614 CAD | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
38A-1-6B
Land Assessment
$124,722 CAD
Improvements Assessment
$160,614 CAD
Total Assessment
$285,336 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025 Payable 2025
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11947 Lee Hwy - Hill House & The Old Bus Repair Shop
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