James B Jones Hwy @ Black Stump Road - Apartments FOR SALE


Kilmarnock, VA 22482
$5,750,000 USD
804-400-6163
James B Jones Hwy @ Black Stump Road, Kilmarnock, VA for Sale
$5,750,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

James B Jones Hwy @ Black Stump Road
Kilmarnock, VA 22482


HIGHLIGHTS

  • Includes 12 newly built townhomes and 23 finished lots for future development.
  • Proforma gross income of $253,680 with strong potential for growth.
  • Located near major retailers, schools, and healthcare facilities in Kilmarnock.
  • Offered at $5,750,000 for the entire project.

OVERVIEW

Kilmarnock Crossroads presents a unique investment opportunity in the growing Northern Neck region of Virginia. This offering includes 12 newly constructed townhomes and 23 finished lots, providing immediate income potential and future development upside. The property is fully serviced with all utilities to the site and offers flexible zoning and lot sizes, accommodating a range of residential configurations. The project is positioned along James B Jones Highway, offering convenient access to the town of Kilmarnock and surrounding communities. The area features a strong local amenity base, including national retailers such as Walmart, CVS, and Tractor Supply, as well as dining options and essential services. Nearby institutions include Lancaster Elementary School and Rappahannock General Hospital, enhancing the appeal for families and long-term residents. With a proforma gross income of $253,680 and a total asking price of $5,750,000, this property offers investors a compelling opportunity to acquire a stabilized asset with additional development potential. The combination of new construction, finished lots, and a desirable location positions Kilmarnock Crossroads as a rare find in a market with limited multifamily supply.

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$426 USD /SF

# OF UNITS

12

PRICE/UNIT

$479,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kilmarnock Crossroads

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.98 AC

LAND SF

565,409 SF

ZONING

R2

APN/PARCEL ID

23-114

ASK ABOUT THIS PROPERTY

Ryan FanelliCommonwealth Commercial PartnersMore Info
804-400-6163

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Ryan FanelliCommonwealth Commercial PartnersMore Info
804-400-6163

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