12894 John Clayton Memorial Hwy - Apartments FOR SALE


North, VA 23128
$425,000 USD
804-832-0974
12894 John Clayton Memorial Hwy, North, VA for Sale
$425,000 USD
Apartments - FOR SALE
1/4
null | 9% Cap Rate

12894 John Clayton Memorial Hwy
North, VA 23128


OVERVIEW

Mixed-Use Investment Opportunity | Renovated Duplex + Income-Producing Shop Value-add mixed-use investment offering three income streams on approximately 3 acres, strategically located along Route 14 heading into Mathews—providing prime visibility and accessibility. The property consists of a renovated duplex and a separate commercial/shop building with its own address and septic system, providing true operational independence and flexibility for a variety of business uses. The duplex includes two residential units—a 2-bedroom unit and a studio apartment—both recently remodeled, supporting stable tenancy and reduced near-term capital expenditures. The residential component is currently leased, offering consistent in-place income. The detached shop building (Unit 3) is separately addressed and currently leased, with a near-term lease expiration presenting a clear opportunity to reposition, increase rents, or occupy for owner-user purposes. The property is serviced by a shared well, with the shop benefiting from its own septic system. With current rents generating approximately $41,400 annually, the asset operates near a 10% gross return, with additional upside through rent optimization and lease restructuring. The combination of residential stability and commercial flexibility makes this an attractive opportunity for investors seeking diversified income or owner-users looking to offset occupancy costs. Offered as-is. Leases and expense details available during the inspection period.

FOR SALE DETAILS

PRICE

$425,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

3

PRICE/UNIT

$141,667

CAP RATE

9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.97 AC

LAND SF

129,373 SF

ZONING

commercial

APN/PARCEL ID

18-A-15

ASK ABOUT THIS PROPERTY

Lisa AtkinsIron Valley Real Estate PrestigeMore Info
804-832-0974

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Lisa AtkinsIron Valley Real Estate PrestigeMore Info
804-832-0974

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.