West Locust Street
Woodstock, VA 22664

Downtown Woodstock Development Opportunity – B-1 Zoned Lot with By-Right Multifamily Use

Prime 27,273 sq. ft. (0.63-acre) B-1 zoned parcel located just half a block from Main Street in the heart of Woodstock, Virginia. This property offers an exceptional opportunity for developers seeking a ready-to-build multifamily project in one of the Shenandoah Valley’s most desirable markets.

The site is positioned within the town’s Business (B-1) District, which allows a mix of residential and commercial uses, including by-right construction of up to an 18-unit apartment building. No special use permits, variances, or public hearings are required, minimizing entitlement risk and accelerating the development timeline.

Engineering and Planning
Site engineering by Racey’s Engineering is approximately 99% complete and has already undergone initial review by both the town and county. The proposed plan features a 15-unit, three-story apartment building with well-designed two-bedroom, two-bathroom units averaging 900 sq. ft. each. Each unit includes a private rear balcony, in-unit laundry, and tenant-paid utilities. The current site plan also accommodates all required on-site parking, offering a balanced density while maintaining usability and aesthetics.

The property has access to public water, sewer, and electric services nearby, and the lot itself is level, cleared, and construction-ready. All preliminary design work has been completed, allowing a buyer to proceed quickly toward final approval and permitting.

Location
Located just steps from Main Street, the parcel benefits from Woodstock’s walkable downtown environment, lined with local restaurants, shops, and civic destinations. The site offers easy access to Interstate 81, making it convenient for commuters and residents alike. Woodstock serves as the county seat of Shenandoah County and continues to attract new residents seeking a blend of small-town charm and proximity to major employment centers in Winchester, Harrisonburg, and Northern Virginia.

Market Overview
The Shenandoah Valley rental market remains tight, with low vacancy rates and strong absorption driven by limited new supply. Modern apartment inventory in Woodstock is limited, creating a significant opportunity for new construction. Comparable two-bedroom units in the area lease in the $1,700–$1,900/month range, reflecting healthy rental demand and stable cash-flow potential.

Investment Highlights:

27,273 sq. ft. B-1 zoned parcel located just off Main Street

By-right multifamily use (no special use permit or hearing required)

15- to 18-unit development potential

Engineering and site plan 99% complete (Racey’s Engineering)

On-site parking included in current design

Level, cleared, construction-ready lot

Utilities accessible nearby (water, sewer, electric)

Strong rental market with limited supply

Walkable downtown location close to restaurants, shops, and services

Quick access to I-81 for regional connectivity

A nearby Foundry Street parcel is also available and is suitable for an 8-unit apartment building. Together with the Locust Street site, buyers can pursue a combined 23-unit multifamily development within walking distance of Main Street. Parcels can be purchased individually or as a package for greater scale, shared management, and construction efficiencies.

Development Potential
The seller’s existing engineering and design package offers a major advantage for a developer or investor ready to take the project across the finish line. By acquiring the property with these plans in place, a buyer can save months of pre-development time and tens of thousands in engineering costs. The proposed design achieves an efficient layout and modern architectural aesthetic suited for Woodstock’s historic downtown environment.

Area Growth & Demand
Woodstock has maintained steady population growth and ongoing downtown revitalization efforts. The town’s leadership continues to encourage residential infill projects and mixed-use redevelopment within the B-1 district to support long-term housing demand and economic vitality. The area attracts professionals, retirees, and families seeking affordable housing alternatives within commuting distance of larger job markets.

Summary
This property represents an excellent turnkey infill development opportunity—a nearly shovel-ready site in a desirable Shenandoah Valley location. Whether you’re a regional builder looking for your next project or an investor seeking to expand into Virginia’s high-growth secondary markets, this offering checks all the boxes: strong zoning, completed engineering, on-site parking, accessible utilities, and stable rental demand.

Disclaimer:
All renderings shown are conceptual and provided for illustration purposes only. The property is being sold with plans; construction, materials, and finish selections will be determined by the purchaser. Buyer to verify all information with the Town of Woodstock and relevant authorities.