12894 John Clayton Memorial Hwy 3 Unit Apartment Building Offered at $585,438 CAD at a 9% Cap Rate North, VA 23128

Mixed-Use Investment Opportunity | Renovated Duplex + Income-Producing Shop
Value-add mixed-use investment offering three income streams on approximately 3 acres, strategically located along Route 14 heading into Mathews—providing prime visibility and accessibility. The property consists of a renovated duplex and a separate commercial/shop building with its own address and septic system, providing true operational independence and flexibility for a variety of business uses.
The duplex includes two residential units—a 2-bedroom unit and a studio apartment—both recently remodeled, supporting stable tenancy and reduced near-term capital expenditures. The residential component is currently leased, offering consistent in-place income.
The detached shop building (Unit 3) is separately addressed and currently leased, with a near-term lease expiration presenting a clear opportunity to reposition, increase rents, or occupy for owner-user purposes. The property is serviced by a shared well, with the shop benefiting from its own septic system.
With current rents generating approximately $41,400 annually, the asset operates near a 10% gross return, with additional upside through rent optimization and lease restructuring. The combination of residential stability and commercial flexibility makes this an attractive opportunity for investors seeking diversified income or owner-users looking to offset occupancy costs.
Offered as-is. Leases and expense details available during the inspection period.