Great Opportunity to own a mixed use (Office / Retail / Residential) income producing property. A two story commercial / residential building fronting on East Queen Street in Strasburg, Virginia commonly known as Queen Street Square. Built in 2007 on a 1.21 acre lot with over 22,000 sf and approximately 70 parking spaces. Building features include a sprinkler system, natural gas, direct 911 service access points, alarm system and elevator installed to provide for second floor handicap accessibility. Current layout includes 5 commercial units, 6 offices, 6 ~ 3 bedroom / 2 bath apartments and 2 efficiency apartments. Average length of current leases is 3.5 years for residential and 7 years for commercial. Major commercial tenant / anchor are the United States Department of Agriculture (USDA) occupying 40% of commercial space. USDA has occupied this space since July, 2008. Property is being offered at over a 7% Cap Rate and is being shown by appointment only.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 30th October, 2020 4:09 PM
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