38 Rouss Ave - Bank FOR SALE


Winchester, VA 22601- Downtown Winchester
$150,000 USD
301-706-4619
38 Rouss Ave, Winchester, VA for Sale
$150,000 USD
Bank - FOR SALE
1/14
null | Request Cap Rate

38 Rouss Ave
Winchester, VA 22601
Downtown Winchester


HIGHLIGHTS

  • ABSOLUTE $1 AUCTION | Former Truist Bank | Downtown Winchester | $94K AHHI | AUCTION DECEMBER 8-10
  • Downtown Former Truist Bank on Rare 0.27 Acre Site with Second Story and Basement Offices
  • Strategic Frontage and Visibility on Rouss Ave and N Cameron St with Traffic Counts of 6,375 VPD
  • Affluent Demographics with $94,985 Average Household Income and ±70,998 People within a 5-Mile Radius
  • Located in Historic Old Town Directly Across from City Hall, Prominent Law Offices, Restaurants, County Offices, Retail, and Dense Residential
  • 3.87% Population Growth from 2020-2024 and 5.78% Growth Projected from 2024-2029 (5-mile radius)

OVERVIEW

Marcus & Millichap is pleased to present a vacant, former Truist Bank located at 38 Rouss Avenue, Winchester, VA 22601 (the “Property”). The Property improvements consist of approximately 7,621 square feet of gross building area distributed over a two-story building connected to a single-story building. The Property also features a 2,208 SF basement with finished areas, no windows, and an underground passage to an adjacent building. The Property is currently vacant and was previously owner-occupied by Truist Bank. The Property offers potential owner users/investors the ability to acquire a downtown retail bank building with significant value add through lease up at long term market rates (CoStar estimated retail rents of $12-14/SF NNN). The Property is strategically positioned on a ±0.27 acre (±11,793 SF) hard corner parcel directly across from Winchester City Hall, offers three surface parking spaces, and is easily accessible via three points of ingress/egress along North Cameron Street (±6,375 VPD) and Rouss Avenue. The Property is Zoned B-1, Central Business District, which offers favorable flexible zoning allowing for a variety of commercial and retail uses via adaptive reuse or repositioning. The drive-thru facility is subject to a restrictive easement to be operated, controlled, managed by Truist Bank – review the due diligence vault for a copy of the CCR. Winchester is located within Frederick County approximately ±90 minutes from Washington, D.C. The Old?Town?Winchester district, located at the northern edge of the Shenandoah Valley, offers commercial real-estate developers a high-visibility, amenity-rich submarket anchored by a historic 45-block National Register district and a pedestrian mall featuring dining, specialty retail, and cultural attractions.?The neighborhood draws both regional visitation - thanks to its historic architecture, festivals like the Apple Blossom, and local trade from affluent Frederick County households, creating a blended demand base.?The site offers excellent regional connectivity via Interstate 81 (±70,077 VPD) and US-50/Millwood Pike (±17K VPD). The Property sits directly across from City Hall and surrounded by traffic drivers and amenities such as Stonewall Jackson’s Headquarters, Apple Blossom Mall, Home Depot, Lowe’s, Handley High School, The George Washington Hotel, and many more. Winchester also benefits from a strong employment base anchored by Valley Health System, Amazon, Navy Federal Credit Union, Trex Company, and other regional employers, supporting long-term daytime population and economic stability. The Property is located within a dense trade area of ±49,612 residents with an average household income (AHHI) of ±$89,832 within 3-mi and ±70,998 residents with an AHHI of $94,985 within 5-mi, reinforcing the site’s lasting appeal for both investors and owner/users. The 5-mile trade area is also experiencing notable population growth, with increases of approximately 3.87% growth from 2020-2024 with 5.78% growth expected to continue through 2029, further strengthening long-term demand fundamentals.

FOR SALE DETAILS

PRICE

$150,000 USD

PRICE/SF

$15 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Auction - Former Truist Bank | $94K AHHI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,055 SF

ZONING

B1

APN/PARCEL ID

173-01-O-33

ASK ABOUT THIS PROPERTY

Adam SklaverMarcus & MillichapMore Info
301-706-4619

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Adam SklaverMarcus & MillichapMore Info
301-706-4619

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