3,291 Acres Lot
3,291 Acres Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Winchester
MLS Listing ID VAWI2011088
Year Built 1927
Annual Tax Amount $7,666
Tax Year 1997
Lot Size 3291.000 Acres
Acres 3291.0
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Located just one block from the historic Old Town Winchester Walking Mall, this legacy investment property offers more than 9,300 square feet of space with the first and second floors completely renovated and occupied. The third floor presents an outstanding value-add opportunity for apartment development, with potential eligibility for Historic Tax Credits. The property is also located within an Enterprise Zone, providing access to additional grant and incentive programs.
The sale includes the adjacent parking lot (Tax ID 173-01-E-1), which is approved for multifamily development or can continue to serve as a highly desirable dedicated parking facility for tenants and customers.
Current net operating income exceeds $80,000 annually, providing immediate cash flow with significant upside potential. Recent capital improvements include a metal roof, new HVAC systems, and modern tenant build-outs throughout the building.
This unique asset offers a diversified income stream with retail and office tenants in place, while creating future opportunities for residential development on both the third floor and the adjacent parking lot. Ideal for a 1031 exchange buyer or investor seeking stable income, long-term appreciation, and redevelopment potential in one of the Shenandoah Valley's most desirable downtown locations.
Conveniently located one block from the Braddock Street Parking Garage.
Rarely does an opportunity of this caliber become available in Downtown Winchester. Contact the listing agent to schedule a private showing.
Location
State VA
County Winchester City
Zoning B1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric, Oil
Exterior
Garage Spaces 500.0
Water Access N
Roof Type Metal
Accessibility 2+ Access Exits
Total Parking Spaces 500
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Winchester City Public Schools
Others
Tax ID 193-01-A-4
Ownership Fee Simple
Special Listing Condition Standard
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