Over 50 year old weaving mill. Two buildings, lower level approximately 24,000 sq ft upper level, approximately 37,000 sq ft . Perfect for 30-46 loft apartments , Could also be light industrial or office building OR RETAIL OR A MIXED USE
48 units (47 @ 2Bedroom; 1 @ 1Bedroom); 3-story brick buildings. Units were built in 1974 but current owner has done significant improvements to the property in recent years. Approximately 45,000sf total. On-site laundry facilities for additional income. Site is approximately 1.6acres with +/- 54 paved parking spaces and potential for more parking. Property is under new management with significant results in occupancy and cash flow. Parking lot has been repaved, new hardiplank trim, new floor coverings in common areas (April 2012).
City Market Lofts presents an excellent opportunity to acquire 69 Luxury Residential Units and 6 Commercial Units that have recently been completely rebuilt, renovated, and fully leased-up, thus offering upward trending cash flows on essentially brand new, high-end rental units. This project was developed as adaptive re-use, utilizing historic and new market tax credits, thus the asset offers contemporary interiors with the appeal and character of the original architectural detail. This type of development requires a complete renovation of the building systems and interiors, including all mechanical, electrical, HVAC, cosmetic finishes, and plumbing. As such, City Market Lofts now represents a virtually new, stabilized asset (currently at 90% occupancy) with increasing revenue and tenant appeal. **PLEASE CLICK LINK TO REGISTER & DOWNLOAD OFFERING MEMO**
PRICE REDUCED Historic property. in Diamond Hill Historic District. First hospital in Lynchburg , built in 1883, addition added in 1921 most recently used as a nursing home. It has 79 rooms (50,000 sq ft) plus full basement.It has 38 parking spaces with additional land available for more,; ideal for loft apartment, elderly housing , dormitory or boutique hotel. Fully sprinkled Property is VACANT. Only $15.00 Per Square Foot