2640 Valley Ave, WINCHESTER, 22601

Commercial - Five Or More Units

$2,650,000

Beds
Baths
30,000Sqft
1.61Acres
1962Built
215DOM
MLS® #: VAWI112586
Active Under Contract, 215 Days on Market

Our Offices

Contact Us

  • Harrisonburg 540-434-2400
  • Woodstock 540-459-4002
  • Luray (540) 743-4545
  • Elkton 540-298-0280
  • Email info@funkhousergroup.com
Questions?

Whale of An Investment Opportunity! 20 meticulous and spacious 1-bedroom apartment units PLUS 15,000 SF of retail on busy Valley Avenue, Winchester. Almost all units have recently been renovated top to bottom with new vinyl flooring, paint, appliances, cabinets, stackable washer/dryers, plumbing, light fixtures, new windows, and 15 have new HVAC units! This all-masonry building is virtually like-new with asbestos remediation completed too. Great tenancy with quality occupants. Very well maintained with pride of ownership that includes security cameras and bright exterior and interior lighting throughout. Dedicated parking for tenants. Lifetime roof warranty to convey. Commercial square footage includes 3000 SF leased to long term tenant . Contingent lease of approximately 5,400 SF beginning in February 2020. This lease is subject to final approval of a conditional use permit byt the City of Winchester. Owner will provide a lease or a guarantee of income for the remaining space for 2 years which would provide cash flow until the vacant space of approximately 6,000 SF is leased by a permanent tenant. This would provide for a 100% occupied and leased property! Vacated square footage ideal for single tenant re-let or multi-tenant re-letting; potential tenants could include fitness facility, physical therapy clinic, modern laundromat, or re-purposed into temp- controlled mini storage by owner/operator. Zoned B2 for a variety of retail, service or professional office use. Lease space marketed for $8 PSF NNN. Grandfathered, over-size signage on Valley Ave for multiple businesses. Excellent storefront parking and window display. Fully sprinkled in commercial space. 480 vt/3 phase electric. One roll up, on-grade door with staging area. Clear span for maximum open concept or reconfiguration. Exceptional maintenance history. Potential Gross Annual Income at Full Occupancy Exceeding $326K. List price $2,650,000.00.

2640 Valley Ave is a Commercial property for sale. The current price is $2,650,000. Built in 1962 this 0 room, 0.00 bath Winchester property has been listed on funkhousergroup.com for 215 days.

Price & Status History

Date Details
Status Changed from Active to Active Under Contract
Status Changed from Active Under Contract to Active
Status Changed from Active to Active Under Contract

Essential Information

MLS® #: VAWI112586
Price: $2,650,000
Bathrooms: 0.00
Square Footage: 30,000
Acres: 1.61
Year Built: 1962
Type: Commercial
Sub-Type: Five Or More Units
Status: Active Under Contract

Community Information

Address: 2640 Valley Ave
State: VA
Zip Code: 22601

Amenities

Utilities: Under Ground

Interior

Heating: Forced Air
Cooling: Central A/C
# of Stories: 1

Exterior

Exterior: Block
Roof: Metal

School Information

District: WINCHESTER CITY PUBLIC SCHOOLS

Additional Information

Date Listed: May 28th, 2019
Days on Market: 215
Zoning: B2
Listing Office: Greenfield & Craun Commercial
Listing Agent: John Willingham

Financials

$/SqFt: $88

Neighborhood Information for 2640 Valley Ave

Moderate Residential Turnover

  • Lows

    • January 22.20℉
    • July 65.40℉
  • rain icon

    Precipitation

    • 36.40"
  • Highs

    • January 39.20℉
    • July 85.00℉