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    966 Main Street

    Abingdon, VA 24210
    • $1,749,000
    • STATUS: Active
    • ON SITE: 31 days
    • MLS #: 9927489
    UPDATED: 11 min ago
    $1,749,000
    • 0
      BEDS
    • 1.6
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,072
      SQFT
    • $116
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1989
    County:
    Area:

    School Ratings & Info

    Description

    Great Investment Business complex in the middle of Abingdon. There are currently 12 business office that vary in all sizes plus a seperate bank building that after purchase could be seperated off by boundary adjustment and sold, or kept to increase cash flow of the entire project. Current net income on this property at the time of listing (with 2 empty spaces) is $92,940. Adjusted gross income with expenses is $50,483 with the potential of increasing with 2 empty spaces to be rented. Currently the owners are trying to rent out the additional space. The Traffic count alone in front of this property in years past has been 50,000 plus daily. Lending plenty a variety of business opportunities to be supported when this property has empty units to be rented back out. The Bank building on site has had several different types of businesses approach the owner to rent the space so it is not just relegated to a bank coming back in to rent. The Market rental amount on the Bank building is anywhere from $3,000 a month to $4,000 a month. Currently, the owners are talking to a potential customer to rent the space. Attached to the listing is a copy of the current rent roles and copies of the building layouts. Further information can be given to serious buyers if needed. Call listing agent with further questions. The larger office suites have an electric combination gas furnace hvac system. AC in the building on the left of the property including the front office space is Electric AC with gas furnace for winter. The suites in the back of the complex all have Electric Heat pumps. The Bank building is on electric AC only. This property has plenty of parking for all suites with additional available. Built and complete in 1988 and 1989, the property has had one owner and they have maintained the property in excellent condition. There is one extra space that is currently not rented and is being used as storage for the owner. This space could be leased out for $1200.

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    © 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-09-21T16:59:53.483.
    www.reddooragency.com/homes/120685333
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    966 Main Street Abingdon, VA 24210

    • Price: $1,749,000
    • Status: Active
    • Updated: 11 min ago
    • MLS #: 9927489
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.6
    Acres
    15,072
    SQFT
    $116
    $/SQFT
    1989
    Built
    Neighborhood:
    Abingdon
    County:
    Washington
    Area:
    Abingdon
    Property Description
    Great Investment Business complex in the middle of Abingdon. There are currently 12 business office that vary in all sizes plus a seperate bank building that after purchase could be seperated off by boundary adjustment and sold, or kept to increase cash flow of the entire project. Current net income on this property at the time of listing (with 2 empty spaces) is $92,940. Adjusted gross income with expenses is $50,483 with the potential of increasing with 2 empty spaces to be rented. Currently the owners are trying to rent out the additional space. The Traffic count alone in front of this property in years past has been 50,000 plus daily. Lending plenty a variety of business opportunities to be supported when this property has empty units to be rented back out. The Bank building on site has had several different types of businesses approach the owner to rent the space so it is not just relegated to a bank coming back in to rent. The Market rental amount on the Bank building is anywhere from $3,000 a month to $4,000 a month. Currently, the owners are talking to a potential customer to rent the space. Attached to the listing is a copy of the current rent roles and copies of the building layouts. Further information can be given to serious buyers if needed. Call listing agent with further questions. The larger office suites have an electric combination gas furnace hvac system. AC in the building on the left of the property including the front office space is Electric AC with gas furnace for winter. The suites in the back of the complex all have Electric Heat pumps. The Bank building is on electric AC only. This property has plenty of parking for all suites with additional available. Built and complete in 1988 and 1989, the property has had one owner and they have maintained the property in excellent condition. There is one extra space that is currently not rented and is being used as storage for the owner. This space could be leased out for $1200.
    Exterior Features

    Exterior Finish BrickVinyl Siding Lot Size 225X315x225x307 Road Access City StreetHighway Roof Architect ShingleShingle

    Interior Features

    Ac Heat Pump Heating Heat PumpNatural Gas Total Sqft Finished 15072.00 Total Sqft Unfinished 0.00

    Property Features

    Annual Lease Amount 92940.00 Auction No Business Type Professional/OfficeSee Remarks City Taxes 4093.88 Complex Ind Park Business Park County Taxes 8772.60 Development Status Finished Lot(S) Electric Service 220 Volts Existing Finance Conventional Financing CashConventional Foreclosure No Info Available Floor PlanInvestment AnalysisLeases Lot Number 27 And 35 Other Equipment Additional Building(S)Fire Sprinkler SystemSee RemarksSmoke Detector(S) Property Condition Average Restrictions Deed Sale Includes Business Only Sewer Public Sewer Short Sale No Water Public Zoning Commercial

    Listing information © 2021 Tennessee/Virginia Regional MLS.
    Listing provided courtesy of Andrew Neese of Prestige Homes Of The Tricities Inc.



    © 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-09-21T16:59:53.483.
     
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    Kingsport TN, 37660