550 Grove St - Manufacturing FOR SALE


Bedford, VA 24523
$2,800,000 USD
804-539-3017
550 Grove St, Bedford, VA for Sale
$2,800,000 USD
Manufacturing - FOR SALE
1/11
null | Request Cap Rate

550 Grove St
Bedford, VA 24523


HIGHLIGHTS

  • Strategically located between Lynchburg & Roanoke via Routes 221 & 360
  • Walkable to restaurants & businesses
  • Potential future enterprise zone
  • Excellent opportunity to blend historic & affordable housing tax credits
  • Rare opportunity for a large-scale multi-family redevelopment project
  • Seven (7) parcels total included in the sale - 550 Grove + 6 lots

OVERVIEW

Multi-Family Development Opportunity with Possible Historic Tax Credits Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement. Bedford has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Bedford boasts many classical buildings in its historical district. Centertown of Bedford is in the National Register of Historic Places in the United States, and rightfully so. Check out the local city museum, antique shops, the unique farmers market, or Centerfest, a popular festival in the historic district each September. Natural beauty abounds; there are two peaks rising from the Blue Ridge Mountains, giving Bedford a fantastic backdrop. The Flat Top and Sharp Top, along with Harkening Hill, shouldn’t be missed. Peaks of Otter offers dozens of wildflower walks, hiking trails, picnic areas, campgrounds and lodges. The National D-Day Memorial, The Avenel Plantation, and Thomas Jefferson`s Poplar Forest are among other popular attractions.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$19 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

UTILITIES

-

CLEAR CEILING HT

14 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.59

LAND SF

112,820

ZONING

CNW

APN/PARCEL ID

80502239,80502240,80502253,80502258,80502262,80502263,80504050

ASK ABOUT THIS PROPERTY

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804-539-3017

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804-539-3017

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