Owner Financing, with acceptable down payment! Can you say Opportunity?
By: Elaine VonCannon, ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER, AWARD WINNER, RE/MAX Hall of Fame
Grundy, Virginia,AN AFFORABLE INVESTMENT WITH A CAP RATE, THAT COULD BE MADE A 8 PLUS! Located in Grundy, Virginia this 25 unit shopping center. Offered at $3,000,000, Situated on approximately 12 acres, 93,890 square feet, Price per square foot is $3.50 (This is far below the national average of roughly $16.00 per square foot), this would mean more of a profit margin with rent increases over the next few years. No vacancies since the shopping center opened in 1978, Situated near Law School and Pharmacy School. This property generates 300,000 annually. Net Gross is 265,000 annually. Large open areas for potential out parcels, that could be sold or used for ground leases. This property has a history of a great cash flow! List price $3,000,000.00 makes this A GREAT INVESTMENT AND A GOOD CANDIATE FOR A 1031 TAX EXCHANGE. Priced less than current tax assessment, do not miss this opportunity! Out parcels could be sold or offered on a ground lease. Rents have not been adjusted since shopping was built! THIS IS A REAL MONEY MAKER!
This area needs a restaurant, coffee shop, pizza place, grocery store, night club, fitness center. These type of business would do well on the out parcels.
Offered at: $2700,000............... Route 460............. Grundy........Va........... 24656....Anchor Shopping
Grundy is a town in Buchanan County, Virginia, United States. The population was 1,105 at the 2000 census. It is the county seat of Buchanan County. The town is noted for its educational institutions and their role in the town's economic rebirth. In the past, the town served as a stopover for Union troops on their way to the Battle of Saltville. The town is also noteworthy for its flood control project, where the mountain across the river was blasted to make way for new development.
Grundy is home to the Appalachian School of Law, which opened in 1997, and the Appalachian College of Pharmacy, which opened in 2005. Buchanan County chose Grundy as the site for the ASL to revitalize the town, which had been in a steady economic decline since the Flood of 1977. The presence of ASL has brought $12 million to the local economy, and is credited with construction of rental homes and the opening of additional businesses in the area. Additionally, ASL has successfully demonstrated the concept of creating institutions of higher education as an economic development tool. This success led to the creation of the Appalachian College of Pharmacy, also located in Grundy, which, like the Appalachian School of Law, was created as part of a continuing economic redevelopment effort. ACP is forecast to add $20 million per year to the local economy.
More information on counties in Virginia and estate homes go to www.estatesinvirginia.comfor viewings. Elaine VonCannon and her team will be glad to assist you in all your real estate needs. Other web sites to view about Elaine VonCannon, Virginia and her listings go to www.voncannonrealestate.com or www.elainesrealestate.com Thank You for your time and interest.
Elaine is a published author on real estate both commercial, residential and property management. Her articles are on her web sites for you to read and enjoy.
J. Elaine VonCannon, ABR,SRES, REALTOR, Notary, Team Leader, Property Manager, Award winning agent
Email: voncannonrealestate@gmail.com, Direct number: 757-288-4685
By: Elaine VonCannon, ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER, AWARD WINNER, RE/MAX Hall of Fame
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