1031 Exchange Properties For Sale

More details for 001 Johnson Rd, Mineral, VA - Land for Sale

Johnson Rd IND - 001 Johnson Rd

Mineral, VA 23117

1031 Exchange Property
Land for Sale
$383,044 CAD
6.88 AC Lot

Mineral Land for Sale - Louisa County

Looking for Industrial Land in Louisa county? Well your search is up. We have 2 parcels for sale. 6.88 acres and 5.86 acres. Both parcels have massive potential with proximity to Lake Anna, Dominion Power Plant, New Amazon datacenter. This property could be used for a multitude of uses from, forestry, distillery, brewery, contractors office/supply, food truck, parking lot, general office, to maintenance facility, construction sales, equipment sales, truck terminal to mini storage. The options are endless. To learn more about what can be done onsite by right and also with special use permit call today to learn more. These 2 properties surely wont last long. Possible Uses: Industrial Land, Brewery, Contractors Office, Distillery. Other IND uses by county with SUP. 2 Lots from $230,000 and $270,000

Contact:

RVA Realty

Property Subtype:

Commercial

Date on Market:

2025-07-24

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2215 N Lombardy St

Richmond, VA 23220

1031 Exchange Property
Retail for Sale
$1,064,010 CAD
6,000 SF

Richmond Retail for Sale - Northside

Terrific opportunity to be right at the heart of the redevelopment right around Virginia Union University, this building is currently in operation as a body shop, but that's absolutely not the highest and best use of this property. In the Chamberlayne Redevelopment Zone, and cannot be used as automotive in the future. Great spot for a coffee shop, retail store, restaurant, quick service, fast food etc.

Contact:

Maison Real Estate Boutique

Property Subtype:

Auto Repair

Date on Market:

2025-07-09

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More details for 3335 N Military Hwy, Norfolk, VA - Retail for Sale

Automotive Sales & Service .77 acres - 3335 N Military Hwy

Norfolk, VA 23518

1031 Exchange Property
Retail for Sale
$2,071,273 CAD
2,000 SF

24 Hour Access

Norfolk Retail for Sale - Airport/Northampton

GREAT HIGHWAY EXPOSURE & SIGNAGE AUTOMOTIVE SALES AND SERVICE PRIVILEGES .77 acres 125’ frontage 2 abutting parcels 6 service bays Population 1/3/5 mi 8,829 / 97,025 / 287,179 Avg. Household Inc. 1/3/5 mi $70,239 / $77,547 / $81,455 26,378 VPD Neighbors: Hertz, AAMCO, Ford, Chrysler, Jeep, Dodge, RAM, Tesla, Avis Budget Enterprise, Lidl Airport to the east Interstate to the south 161,382 VPD Brokers Protected

Contact:

JCF

Property Subtype:

Auto Dealership

Date on Market:

2025-06-06

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More details for 59 Market St, Onancock, VA - Retail for Sale

Clements Building - 59 Market St

Onancock, VA 23417

1031 Exchange Property
Retail for Sale
$702,247 CAD
6,192 SF

Air Conditioning

Onancock Retail for Sale

Commercial & Residential Opportunity Downtown Business, 6,000 sq feet! built 1942,steel beam, brick, block construction, 1st fl 3,000 sq ft w 2 offices, separate entrances & separate heat/AC, handicapped access, freight elevator,3 phase serv,2 half baths - let your entrepreneurial spirit take flight! enjoy income from a 2nd office space! 2nd fl 3,000 sq ft. unfinished w rt of ownership to construct & half bath.This is your chance to craft a living space(s) so unique! Endless, vibrant possibilities!!! see attached for specifics. The owner has an on going business that they are willing to sell. Terms and conditions can be decussed later

Contact:

Weichert, Realtors Mason-Davis

Property Subtype:

Department Store

Date on Market:

2025-06-04

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More details for TBD West Severn way, Sterling, VA - Land for Sale

Pacific Blvd Open Parcel - TBD West Severn way

Sterling, VA 20166

1031 Exchange Property
Land for Sale
$1,844,284 CAD
3.08 AC Lot

Sterling Land for Sale - Route 28 Corridor North

The property can be developed on a 7500 sq/ft portion along Pacific Blvd and Severn Way. The building site can accommodate a building of up to 40,000 sq/ft pending parking and other use standards.

Contact:

Long & Foster Real Estate, Inc.

Property Subtype:

Commercial

Date on Market:

2025-04-01

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11697 Spotswood Trl

Stanardsville, VA 22973

1031 Exchange Property
Land for Sale
$5,389,565 CAD
70.04 AC Lot

Stanardsville Land for Sale

This 70.04 acre site is located in a Major area of Commercial , Business and Residential growth located just north of Charlottesville, VA. The property location is 37 miles east of Harrisonburg, 35 miles south of Culpeper, 90 miles west of Richmond, VA and 1.5-2 hrs drive to Northern , VA/Washington D.C. The site is located on a Major Highway (east/west), Rt. 33-Spotswood Trail. But it is only 3 miles to Ruckersville, VA and a second Major Highway (north/south) which has shopping, like Lowes, Walmart and more! The U.S. Highway Rt.29/Seminole Trail location in Ruckersville, provides a developer or business a great opportunity for growth and adding Employment along with a very desirable community for employees, staff and business owners to enjoy life. Nearby, only 3 miles West is the Blue Ridge Mountains and Skyline Drive. Other important places include the University of Virginia located only 20 miles south and the National Ground Intelligence Center (NGIC) located 9 miles South. The National Ground Intelligence Center is part of the United States Army Intelligence and Security Command. This Farm has been in the family for several generations and the property consists of rolling pastures with dramatic views and gorgeous vistas. There is good road frontage on a major highway (Rt. 33-Spotswood Trail.) The land of 70.04 is designated in the Greene County zoning with 17.86 Acres in Business-3 (B-3) Zoning and 52.068 Acres in Manufacturing-1 (M-1) Zoning. These uses provide a variety of business and public uses.

Contact:

Real Estate III

Property Subtype:

Commercial

Date on Market:

2025-03-18

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More details for 1200 Grove Ave, Radford, VA - Retail for Sale

Owner User or Site Development - 1200 Grove Ave

Radford, VA 24141

1031 Exchange Property
Retail for Sale
$844,115 CAD
6,000 SF

Radford Retail for Sale

Prime Real Estate Opportunity: Devilbiss Funeral Home Site Harris Commercial Realty is pleased to announce the exceptional opportunity to market and sell the site formerly known as Devilbiss Funeral Home. This prime location is strategically situated near Radford University, Radford Downtown, and numerous commercial and institutional office buildings, making it an ideal investment for various commercial ventures. Key Features • Location: Prime location near Radford University and Radford Downtown • Proximity: Close to many commercial and institutional office buildings • Lot Size: Approximately 1 acre lot • Visibility: Highly visible with 240 feet of road frontage and 180 feet depth - • Condition: Entire site is paved with plenty of parking • Views: Beautiful lot overlooking the town of Radford • Accessibility: Faces Grove Avenue Street, just down from Radford University and adjacent to professional office buildings Building Specifications • Building Size: Approximately 6,000 square feet Potential Uses This property presents a versatile opportunity for various uses, including but not limited to: • Another funeral home • Developer projects • Investor opportunities Do not miss this rare opportunity to acquire a prime piece of real estate in a highly sought-after location. For more information or to arrange a viewing, please contact Harris Commercial Realty. Call for showing appointment 540-250-4836

Contact:

Harris Commercial Realty, LLC

Property Subtype:

Funeral Home

Date on Market:

2025-03-14

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More details for 240-252 Airport Rd, Winchester, VA - Flex for Sale

Aviation Business Center - 240-252 Airport Rd

Winchester, VA 22602

1031 Exchange Property
Office and Flex for Sale
$482,351 - $1,677,864 CAD
2,000 - 7,082 SF
5 Units Available

Air Conditioning
Wheelchair Accessible

Winchester Flex for Sale - Frederick County

2000 SF Office for Sale. Excellent condition and location, tons of FREE parking. Combo of open office space and private, plus a nice kitchenette. Currently leased month to month. Ideal for end user or investor. Asking price is $380,000.

Contact:

Greenfield Commercial

Property Subtype:

Light Distribution

Date on Market:

2025-01-22

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1508 Moran Rd

Sterling, VA 20166

1031 Exchange Property
Flex for Sale
$8,510,661 CAD
18,300 SF

Air Conditioning
24 Hour Access
Metro/Subway
Reception
Wheelchair Accessible

Sterling Flex for Sale - Route 28 Corridor North

Property in excellent condition for many different uses. Discover the unparalleled potential of 1508 Moran Rd, Sterling, VA, a prime commercial property nestled in the heart of Loudoun County’s thriving “Data Center Alley.” This strategic location offers seamless connectivity, being just minutes from Dulles International Airport, Route 28, the Greenway, and the Dulles Toll Road. The property’s proximity to the Silver Line Metro further enhances its accessibility, making it an ideal choice for businesses seeking convenience and efficiency.

Contact:

Long & Foster Real Estate, Inc.

Property Subtype:

Showroom

Date on Market:

2024-08-16

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1105 W Lake Rd

Spout Spring, VA 24593

1031 Exchange Property
Specialty for Sale
$4,965,380 CAD
2,500 SF

Air Conditioning
Waterfront

Spout Spring Specialty for Sale

Paradise Lake Campground - 60 acre campground - Seasonal, monthly, and nightly opportunities - 131 campsites of which 92 have a concrete pad. (62 with water, electric, sewer, 30 with water electric) - 35 primitive sites (tent sites) - 50 and 30 amp sites available - 6 acre lake stocked with bass and bream with large beach area for swimming; including platform decks for sun soaking - kayaks and canoes for recreational use - basketball court - 2500 sq ft retail store with arcade and game room - 20 x 36 swimming pool - Numerous mowers and tractors; along with other maintenance equipment and building; along with large shop - large pavilion for parties and cookouts - excellent maintained roadways throughout the park - 9 miles from Liberty University and 5 miles from Historic Appomattox, VA - 100 undeveloped additional acres available for future expansion - Over $600k in gross income in 2022

Contact:

DeWitt Real Estate & Auctions

Property Subtype:

Trailer/Camper Park

Date on Market:

2023-09-28

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1626 Orange Ave NW

Roanoke, VA 24017

1031 Exchange Property
Retail for Sale
$2,827,358 CAD
6,380 SF

Air Conditioning

Roanoke Retail for Sale - Northwest Roanoke

Prime investment opportunity with a NNN lease and 8 years remaining at the time of this listing. Rent increases 10% on June 1, 2026 to $140,277.60. Lease rent increase in 2026 already built into the current agreement for years 11-15. This property is in a high traffic location with many other local businesses, on the public transportation bus line, easily accessible, and with ample parking. Term of the lease will automatically extend one period at a time for 6 consecutive 5 year periods.

Contact:

Mac Westland Real Estate Group

Property Subtype:

Storefront

Date on Market:

2023-09-07

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5289 Mudd Tavern Rd

Spotsylvania, VA 22580

1031 Exchange Property
Land for Sale
$4,908,633 CAD
3.46 AC Lot

Spotsylvania Land for Sale - Spotsylvania County

Coldwell Banker Commercial Elite is pleased to present a unique commercial development opportunity located at Exit 118 off Interstate 95 in Thornburg, Virginia. Positioned in one of the region’s most rapidly evolving corridors, this 22+ acre site offers exceptional visibility, accessibility, and proximity to major regional attractions. With flexible C2 and C3 zoning, the property is ideally suited for retail, hospitality, or mixed-use development—strategically located near the highly anticipated Kalahari Water Park and Dominion Raceway & Entertainment.

Contact:

Coldwell Banker Commercial Elite

Property Subtype:

Commercial

Date on Market:

2020-01-08

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More details for Jefferson Hwy, Staunton, VA - Land for Sale

Brandsgate - Jefferson Hwy

Staunton, VA 24401

1031 Exchange Property
Land for Sale
$482,209 CAD
0.38 AC Lot

Staunton Land for Sale

Brandsgate Commercial Development is in a prime location in Augusta County, directly off of State Route 250 and within two miles of Augusta Health Hospital, I-81, and I-64. We have developed a proposed Site Plan but are happy to meet and discuss other options. The current Site Plan proposes a Veterinarian's Office, Gas Station, 3,000 square foot Restaurant, a two story Bank, and a large strip mall. A traffic light will also be installed at the entrance of Brandsgate, creating a four-way intersection. Behind the Brandsgate development will be residential housing, which has just gone under contract! Call us today and we can help you develop your dream!

Contact:

Countryside Service Co, LC

Property Subtype:

Commercial

Date on Market:

2018-12-04

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3022 Carroll Ave

Lynchburg, VA 24501

1031 Exchange Property
Industrial for Sale
$3,532,513 CAD
17,000 SF

24 Hour Access

Lynchburg Industrial for Sale - Montview

Commercial property available for lease on Carroll Avenue, Lynchburg and corners with Bonsack Street. 2.25 acres, zoned I-2 for light industrial. Over 380 feet of road frontage in busy industrial area. 17,000 total sq ft under roof, 11,000sq ft warehouse space and 6,000sq ft of office space. Warehouse space has great ceiling heights of 15 to 19 ft. There are also 7 nice bay doors ranging from 12 to 16 ft tall. Two separate office entrances and plenty of parking. Conveniently located to new exit from 460. Start your own business here or expand your already existing business to this great location.

Contact:

TY Realty

Property Subtype:

Warehouse

Date on Market:

2018-07-31

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More details for 10135 Colvin Run Rd, Great Falls, VA - Office for Sale

Elysce Bldg - 10135 Colvin Run Rd

Great Falls, VA 22066

1031 Exchange Property
Office for Sale
Price Upon Request
18,200 SF

Air Conditioning

Great Falls Office for Sale

KLNB is pleased to present FOR SALE – 10135 Colvin Run Rd, a 2 Story, 18,186 SF Medical/Professional office building located in prestigious Great Falls, VA. The asset is 92% leased to 5 Tenants (with additional rooftop antenna income as well), and has been fully renovated within the past 5 years. There is One (1) small 1,537 SF suite that an Owner can occupy, or lease out for additional rental income.

Contact:

NAI KLNB

Property Subtype:

Medical

Date on Market:

2026-05-21

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Compass Creek Park

1031 Exchange Property
Retail for Sale
Price Upon Request
15,805 SF
2 Retail Properties

Leesburg Portfolio of properties for Sale - Leesburg/West Loudoun

Atlantic Capital Partners has been exclusively engaged to market for sale The Shops at Compass Creek– a two-building strip center located in Leesburg, Virgina. The Shops at Compass Creek offers investors the opportunity to acquire a fully leased, new construction retail asset with a complementary mix of both national and strong regional tenancy. The 15,805 SF strip center (across two buildings) is home to national tenants AT&T, Heartland Dental, and regional tenants such as Buffalo Wing Factory, Mezeh Mediterranean Grill, Virginia ABC, and Bruster’s Ice Cream. The assets feature attractive rents and a WALT Remaining of approximately 6 years, providing investors with a strong and durable cash flow. Compass Creek is a 200-acre mixed use development situated in the heart of Loudoun County, and features a variety of retail, dining, entertainment and recreation uses. The development is home to The Rinks at Compass Creek, one of the largest skating and events arenas in the Mid-Atlantic with over 5,500+ grand-stand stadium seats. Compass Creek is also home to notable national retailers Walmart and At Home. Additionally, a new Hyperscale Data Center Campus and 111-room Residence Inn by Marriot are both in development. The Shops at Compass Creek is being offered for sale without a formal asking price, free and clear of existing debt. A formal Call for Offers date will be established during the marketing process.

Contact:

Atlantic Capital Partners

Date on Market:

2026-05-21

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901 Main St

Lynchburg, VA 24504

1031 Exchange Property
Industrial for Sale
Price Upon Request
28,118 SF

Lynchburg Industrial for Sale - Downtown Lynchburg

Investment Developer Opportunity – Edge Data Center Site with Available Infrastructure – Investment Opportunity with 12,000 sqft of leased Data Center space – 7+% Cap Rate Based on 10-year Income – Tax Credits Available Reach out for additional information and financials!

Contact:

Coldwell Banker Commercial Elite

Property Subtype:

Data Center

Date on Market:

2026-03-05

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3136 Cogbill Road Portfolio

1031 Exchange Property
Mixed Types for Sale
Price Upon Request
3 Properties | Mixed Types

Richmond Portfolio of properties for Sale - Hull Street Corridor

Located across three contiguous parcels totaling 3.43 acres, this industrial-zoned property offers functional on-site improvements—including a 3,200 SF metal office, 1,800 SF warehouse, and a 2,018 SF residence alongside valuable open land. The site provides flexible use, ample yard space, and strong accessibility. With zoning shifting to Employment Center (EC) in 2026, the property supports a wide range of future uses and carries credible redevelopment potential given nearby medium-high density designations. A compelling opportunity for both commercial users and developers seeking acreage with dual-path value. PROPERTY FEATURES: Total Land: 3.43 acres across three contiguous parcels 3136 Cogbill Road: 1.527 acres; 3,200 SF office + 1,800 SF warehouse; 3138 Cogbill Road: 1.49 acres; 2,018 SF house, 3 BR, 2 BA 5301 Castlewood Road: 0.406 acres; open land Zoning: Industrial (Employment Center "EC" zoning effective 2026) Uses: Warehouse, light industrial, office, research and technology Redevelopment: Residential rezoning potential FOR PRICING AND QUESTIONS CONTACT: Tony Rolando Associate Broker, Vice President O: 804.643.9011 ext: 601 | C: 804.647.6700 tony@pollardandbagby.com No warranty or representation is made as to the acc.

Contact:

Pollard & Bagby, Inc.

Property Subtype:

Mixed Types

Date on Market:

2025-12-15

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More details for 3550 S Clark St, Arlington, VA - Office for Sale

Club Studio - 3550 S Clark St

Arlington, VA 22202

1031 Exchange Property
Retail for Sale
$32,909,119 CAD
45,966 SF
1 Unit Available

Bicycle Storage
Commuter Rail
Day Care
Fitness Center

Arlington Office for Sale - Crystal City

• Single-Tenant Club Studio ° Corporate Lease with Fitness International, LLC [LA Fitness & Club Studio Parent Co.] ° Rare, Condominium Offering with minimal landlord responsibilities ° 15-year primary term, plus three (3), 5-year options ° 10% rent increases every 5 years, including options • About Club Studio ° Fitness International’s Highest-End health club offering ° $134 - $249 monthly memberships ° 18 Club Studio locations Open, 21 Coming Soon, & many more in the development pipeline ° Studio Row: Club Studio’s signature boutique classes all centralized under one roof - » Pilates, HIIT, Cycling, Boxing & Hot Yoga

Contacts:

RealSource Group

ParaSell, Inc.

Date on Market:

2026-06-02

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More details for 4600 Duke St, Alexandria, VA - Multifamily for Sale

4600 Duke St , Alexandria, VA 22304 - 4600 Duke St

Alexandria, VA 22304

1031 Exchange Property
Office and Office/Retail for Sale
$482,209 - $631,313 CAD
1,472 - 2,898 SF
2 Units Available

Air Conditioning
Concierge
24 Hour Access
Fitness Center
Controlled Access
Kitchen
Pool
Smoke Detector

Alexandria Multifamily for Sale - I-395 Corridor

Take I-395 S, exit at Duke St (VA-236), turn right, drive about 1.5 miles, and 4600 Duke St will be on your right. One Address. Infinite Possibilities. Zoned Mixed-Use.Welcome to one of Alexandria's most uniquely versatile properties ‹” 4600 Duke Street, Unit 413, a 1,140 sq ft mixed-use condo zoned for both commercial and residential use, priced at just $259,000. Whether you're an entrepreneur, healthcare provider, creative professional, or savvy investor, this space was built for your vision.Imagine what's possible here:A sleek beauty bar or blow-dry studio. A thriving hair salon or barber shop. A boutique nail spa or esthetics suite. A physical therapy or chiropractic practice. A physician's office or telehealth suite. A massage therapy or acupuncture studio. A personal training studio or yoga space. A law office, accounting firm, or consulting suite. A photography studio or creative agency. A tutoring center or learning studio. Or a dynamic live/work residence that eliminates the commute entirely.The open, flexible floor plan gives you a clean canvas ‹” configure it however your business demands. Elevator access, 24-hour building security, and a professionally managed environment make an immediate impression on every client who walks through your door.Your built-in clientele is already here. Forty Six Hundred is home to 400+ residents who need exactly the kinds of services this space can provide ‹” beauty, wellness, healthcare, and professional services all within their own building. No hunting for foot traffic. It lives here.The Duke Street corridor is one of Northern Virginia's most connected addresses: bus stop under a mile, Metro within 3 miles, and Reagan National Airport less than 10 miles away. Clients can reach you from anywhere in the DMV with ease.This is not just a condo. It's a launchpad.Mixed-use zoning. Built-in community. Unbeatable price point. Schedule your showing today.

Contact:

C21 Team International

Property Subtype:

Apartment

Date on Market:

2026-05-13

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439 Springview Rd

Hague, VA 22469

1031 Exchange Property
Specialty for Sale
$177,335 CAD
1,200 SF

Wheelchair Accessible

Hague Specialty for Sale

Exceptional opportunity to acquire an existing church/religious facility situated on approximately 1.5 acres in Westmoreland County, Va. Property features an estimated 1,200sqft building per tax records and offers potential for continued worship use, ministry operations, community outreach center, daycare, nonprofit headquarters, event gathering space, office conversion, or other permitted commercial uses subject to zoning approval. Existing utilities include well and septic per tax records. Paved road frontage provides convenient access. Property is being sold strictly as-is, where-is. Buyers due diligence required. No lockbox on site. Showings by appointment only through listing agent. Rare opportunity to secure an affordable special use property with land and future upside.

Contact:

Samson Properties

Property Subtype:

Religious Facility

Date on Market:

2026-04-28

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34446 Lankford Hwy

Painter, VA 23420

1031 Exchange Property
Retail for Sale
$411,417 CAD
6,352 SF

Air Conditioning
Restaurant

Painter Retail for Sale

This is a great investment property! Run your business and live right there. 4+ acres stretches from Lankford Highway to Coal Kiln Rd. Great exposure for your business. The cleared area is zoned business. This is in the Accomack county Enterprise Zone. The wooded area is zoned agricultural. Property comes with plenty of storage. Including the several sheds. One shed houses the water system. The rest are for storage. Large open space as you walk in the door. Was used as a restaurant, day care and office years ago. Could be used for several types of small businesses also. 40 year shingles about 6 years old, and the flat roof has been resurfaced. A 1500 sq ft apartment is attached, and a remodel was started. There are 2 septic systems. One for the business, and one for the apartment. Apartment includes a living room, kitchen , and 3 bedrooms, with a 2 car attached garage with storage above.

Contact:

Weichert, Realtors Mason-Davis

Property Subtype:

Restaurant

Date on Market:

2026-04-22

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516 Commerce Dr

Bluefield, VA 24605

1031 Exchange Property
Retail for Sale
$3,830,436 CAD
5,881 SF

Bluefield Retail for Sale

We are pleased to present for sale this APPLEBEE'S NEIGHBORHOOD GRILL & BAR, located along the primary commercial corridor of Bluefield, Virginia, one of the most active retail nodes in the region. This freestanding restaurant sits on a well-positioned pad site within a dense national co-tenancy environment that includes Walmart, Lowe's, Sam's Club, McDonald's, Wendy's, Taco Bell, and Burger King, benefiting from exceptional visibility and access along U.S. Route 460. The subject property is corporate-operated by Legacy Apple III / Legacy Apple II, part of Thrive Restaurant Group, a seasoned multi-unit franchisee with over 50 years of experience operating more than 100 restaurants across four brands. The investment is secured by an absolute triple net lease with zero landlord responsibilities, a lease expiration of May 2038, and four five-year renewal options extending the investment runway well into the future. Contractual 1.50% annual rent escalations commencing May 2026 grow annual rent from $157,289 to $188,057 over the primary term, providing investors with predictable, compounding income growth from day one. Opened in 2005, this Applebee's has demonstrated sustained performance through multiple economic cycles and serves a broad trade area of nearly 40,000 residents within ten miles. As the world's largest casual dining chain with over 2,000 locations, Applebee's brings institutional brand recognition and everyday dining demand that makes this a truly passive, recession-resilient investment.

Contact:

Marcus & Millichap

Property Subtype:

Restaurant

Date on Market:

2025-08-04

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More details for 600 74th St, Newport News, VA - Multifamily for Sale

New Market Apartments - 600 74th St

Newport News, VA 23605

1031 Exchange Property
Multifamily for Sale
$2,128,020 CAD
11,400 SF

Air Conditioning
Security System
Private Bathroom
Kitchen

Newport News Multifamily for Sale - Downtown Newport News

New Market Apartments offers investors a stabilized 12-unit multifamily property with significant recent capital improvements, ensuring reduced future maintenance requirements. Approximately $200,000 has been invested in property enhancements, including 12 new HVAC systems, eight new hot water heaters, main sewer line replacement, structural reinforcement, and upgrades to bathrooms, flooring, and site infrastructure. These updates position the asset for long-term durability and tenant satisfaction. The current tenant mix includes four Section 8 residents and six market-rate renters, with two units in lease-up; the seller will deliver the asset fully leased. Current rental rates average $1,050 per unit, producing steady income supported by government-assisted leases. At the offering price of $1,500,000, the property achieves an estimated Net Operating Income (NOI) of $108,767, translating to an approximate 7.3% cap rate under self-management. Located in Newport News, the property benefits from strong regional employment drivers, robust transportation infrastructure, and proximity to major highways and economic hubs. This acquisition provides an opportunity for an investor seeking stabilized cash flow, predictable returns, and limited near-term capital investment requirements.

Contact:

Harvey Lindsay Commercial Real Estate

Property Subtype:

Apartment

Date on Market:

2025-07-21

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