Court Street Building 201 N Court Ave 6,470 SF Vacant Retail Building Covington, VA 24426 $565,439 CAD ($87.39 CAD/SF) 9.70% Cap Rate

Fully renovated mixed-use investment property featuring two commercial units and one residential apartment, ideally positioned on a high-visibility corner in Covington, VA. The property offers flexible commercial space suitable for a variety of retail, office, or service-based uses, providing strong leasing potential and diversified income streams. Notably, one of the commercial spaces was formerly occupied by a restaurant and is well-suited for conversion back to that use, offering additional upside for food and beverage operators.
The building has undergone extensive improvements, including exterior upgrades, new roofing, and fully updated interiors, resulting in a turnkey asset with minimal deferred maintenance. Projected gross annual income ranges from approximately $52,000 to $57,000, offering an attractive return profile for investors.
Located directly across from a public downtown parking lot, the property benefits from convenient and accessible parking for tenants and customers, enhancing long-term usability and tenant appeal. This is an ideal opportunity for investors seeking a stable, cash-flowing asset with flexibility and long-term upside.