201 N Court Ave - Flex FOR SALE


Covington, VA 24426
$399,900 USD
540-965-5971
201 N Court Ave, Covington, VA for Sale
$399,900 USD
Flex - FOR SALE
1/6
null | 9.7% Cap Rate

201 N Court Ave
Covington, VA 24426


HIGHLIGHTS

  • Fully renovated mixed-use property with two commercial units and one residential apartment
  • Strong projected income of $52K–$57K annually with ~10% cap rate potential
  • High-visibility corner location directly across from public parking with flexible commercial use (C-2 zoning)

OVERVIEW

Fully renovated mixed-use investment property featuring two commercial units and one residential apartment, ideally positioned on a high-visibility corner in Covington, VA. The property offers flexible commercial space suitable for a variety of retail, office, or service-based uses, providing strong leasing potential and diversified income streams. The building has undergone extensive improvements, including exterior upgrades, new roofing, and fully updated interiors, resulting in a turnkey asset with minimal deferred maintenance. Projected gross annual income ranges from approximately $52,000 to $57,000, offering an attractive return profile for investors. Located directly across from a public downtown parking lot, the property benefits from convenient and accessible parking for tenants and customers, enhancing long-term usability and tenant appeal. This is an ideal opportunity for investors seeking a stable, cash-flowing asset with flexibility and long-term upside.

FOR SALE DETAILS

PRICE

$399,900 USD

PRICE/SF

$62 USD /SF

CAP RATE

9.7%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Court Street Building

PROPERTY TYPE

Flex

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1915

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12

LAND SF

5,123

ZONING

C2

APN/PARCEL ID

10---2---109B

ASK ABOUT THIS PROPERTY

Randy PhillipsPhillips Rental Properties, LLCMore Info
540-965-5971

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

Randy PhillipsPhillips Rental Properties, LLCMore Info
540-965-5971

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