An Investor’s Dream.
Real estate fortunes grow on value add investment opportunities like this one. At 60,450 SF, this brick and cinder block building has 22 units (A-V) and is 100% leased at $116 psf, with below market rents. With a diversified tenant base consisting of 12 different leases predominantly in the automotive industry, this type of industrial property is in high demand with a combination of 10 loading docks and 16 drive in doors.
Within easy access to US-28, this property is zoned I-1 in Manassas Park and located across the street from Manassas Park Middle School. The property sits on a 4.5 acre lot with 200 parking spaces.
What’s Happening in Manassas Park.
In April 2021, the City of Manassas Park began construction on a public private partnership project to redevelop downtown Manassas Park into a vibrant, pedestrian centric and mixed-use community anchored by a civic, retail and entertainment plaza which includes a newly constructed garage and pedestrian bridge for the VRE station. In addition to a new City Hall, public library, retail and office space, 300 residential units are in the process of being built by Stanley Martin Homes.
For Sale: $7,000,000.00
With Manassas Park’s commitment to redevelopment combined with their public private partnership, the factors are in place for this property to be exactly the kind of real estate opportunity that investors seek.
Courtesy of: Wright Realty, Inc. Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 16th August, 2022 3:11 PM (UTC)