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550 Grove St 144,000 SF 100% Leased Industrial Building Bedford, VA 24523 $3,884,720 CAD ($26.98 CAD/SF)
INVESTMENT HIGHLIGHTS
- Strategically located between Lynchburg & Roanoke via Routes 221 & 360
- Potential future enterprise zone
- Rare opportunity for a large-scale multi-family redevelopment project
- Walkable to restaurants & businesses
- Excellent opportunity to blend historic & affordable housing tax credits
- Seven (7) parcels total included in the sale - 550 Grove + 6 lots
EXECUTIVE SUMMARY
Multi-Family Development Opportunity with Possible Historic Tax Credits
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement.
Bedford has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Bedford boasts many classical buildings in its historical district. Centertown of Bedford is in the National Register of Historic Places in the United States, and rightfully so. Check out the local city museum, antique shops, the unique farmers market, or Centerfest, a popular festival in the historic district each September.
Natural beauty abounds; there are two peaks rising from the Blue Ridge Mountains, giving Bedford a fantastic backdrop. The Flat Top and Sharp Top, along with Harkening Hill, shouldn’t be missed. Peaks of Otter offers dozens of wildflower walks, hiking trails, picnic areas, campgrounds and lodges. The National D-Day Memorial, The Avenel Plantation, and Thomas Jefferson`s Poplar Forest are among other popular attractions.
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement.
Bedford has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Bedford boasts many classical buildings in its historical district. Centertown of Bedford is in the National Register of Historic Places in the United States, and rightfully so. Check out the local city museum, antique shops, the unique farmers market, or Centerfest, a popular festival in the historic district each September.
Natural beauty abounds; there are two peaks rising from the Blue Ridge Mountains, giving Bedford a fantastic backdrop. The Flat Top and Sharp Top, along with Harkening Hill, shouldn’t be missed. Peaks of Otter offers dozens of wildflower walks, hiking trails, picnic areas, campgrounds and lodges. The National D-Day Memorial, The Avenel Plantation, and Thomas Jefferson`s Poplar Forest are among other popular attractions.
PROPERTY FACTS
| Price | $3,884,720 CAD | Lot Size | 2.59 AC |
| Price Per SF | $26.98 CAD | Rentable Building Area | 144,000 SF |
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Redevelopment Project | Year Built | 1925 |
| Property Type | Industrial | Clear Ceiling Height | 14’ |
| Property Subtype | Manufacturing | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | CNW | ||
| Price | $3,884,720 CAD |
| Price Per SF | $26.98 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 2.59 AC |
| Rentable Building Area | 144,000 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Clear Ceiling Height | 14’ |
| Opportunity Zone |
Yes |
| Zoning | CNW |
AMENITIES
- Security System
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550 Grove St
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