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525 7th St 8,525 SF 60% Leased Office Building Altavista, VA 24517 $697,820 CAD ($81.86 CAD/SF)
INVESTMENT HIGHLIGHTS
- In the heart of Altavista, VA.
- Zoned C-2 and in the Downtown Revitalization Overlay District.
- Three Office Units and Two Residential Units.
- High-visibility corner lot with ample dedicated parking.
- Eligible for DRO grants and incentives.
EXECUTIVE SUMMARY
Premier Multi-Tenant Investment in Downtown Altavista, Virginia.
Property Overview:
Secure a diversified investment in downtown Altavista’s vibrant core. Zoned C-2 and situated in the Downtown Revitalization Overlay District (DRO), and is eligible for DRO grants and incentives. This multi-parcel property offers a robust portfolio of modern office and residential units. Anchored by a high-visibility corner lot with ample dedicated parking spaces, this asset delivers immediate cash flow and strong upside potential. Recent upgrades in 2025! Fresh interior and exterior paint, new LVP flooring, updated interior doors, parking lot sealed in 2023.
525 7th St. Altavista, VA 24517 (2 residential units)
529 7th St. Altavista, VA 24517 (1 Office unit)
616 Campbell Ave. Altavista, VA 24517 (2 Office units)
Property Overview:
Secure a diversified investment in downtown Altavista’s vibrant core. Zoned C-2 and situated in the Downtown Revitalization Overlay District (DRO), and is eligible for DRO grants and incentives. This multi-parcel property offers a robust portfolio of modern office and residential units. Anchored by a high-visibility corner lot with ample dedicated parking spaces, this asset delivers immediate cash flow and strong upside potential. Recent upgrades in 2025! Fresh interior and exterior paint, new LVP flooring, updated interior doors, parking lot sealed in 2023.
525 7th St. Altavista, VA 24517 (2 residential units)
529 7th St. Altavista, VA 24517 (1 Office unit)
616 Campbell Ave. Altavista, VA 24517 (2 Office units)
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$82,834
|
$9.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,834
|
$9.72
|
| Taxes |
$1,325
|
$0.16
|
| Operating Expenses |
$15,578
|
$1.83
|
| Total Expenses |
$16,903
|
$1.98
|
| Net Operating Income |
$65,931
|
$7.73
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $82,834 |
| Annual Per SF | $9.72 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $82,834 |
| Annual Per SF | $9.72 |
| Taxes (CAD) | |
|---|---|
| Annual | $1,325 |
| Annual Per SF | $0.16 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,578 |
| Annual Per SF | $1.83 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $16,903 |
| Annual Per SF | $1.98 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $65,931 |
| Annual Per SF | $7.73 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
8,525 SF
Building Class
B
Year Built
1937
Price
$697,820 CAD
Price Per SF
$81.86 CAD
Percent Leased
60%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,263 SF
Building FAR
0.35
Lot Size
0.56 AC
Zoning
C-2, DRO - C-2, DRO (Downtown Revitalization Overlay District).
(Legal Description: LOTS 36-42 BLOCK 15).
AMENITIES
- Wheelchair Accessible
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $429,343 CAD (2025) | |
| Land Assessment | $156,633 CAD (2025) | Annual Taxes | $1,325 CAD ($0.16 CAD/SF) |
| Improvements Assessment | $272,709 CAD (2025) | Tax Year | 2026 Payable 2026 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$156,633 CAD (2025)
Improvements Assessment
$272,709 CAD (2025)
Total Assessment
$429,343 CAD (2025)
Annual Taxes
$1,325 CAD ($0.16 CAD/SF)
Tax Year
2026 Payable 2026
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NBS Rentals
525 7th St
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