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VirginiaCulpeper, VA 22701

CULPEPER County

$1,900,000List price
2.45Acre lot
NewConstruction
3 months agoOn market

Description

Looking to build a multi-family investment property in Culpeper, VA? Finding land zoned by right for multi-family development is nearly impossible these days and rezoning a property for that use is even more challenging. The approvals for this project have taken years to secure, and now Willow Grove is shovel-ready! This project has full site plan approval from the Town of Culpeper to construct two buildings totaling 30 units, including a rentable management office. Owner has also obtained full building permit approval for the blueprints. The units are permitted under current codes to be converted into condominiums and sold individually. Additionally, the newly assigned RX zoning provides significant flexibility, including allowance for short-term rentals. While short-term rentals were prohibited in many zoning classifications during the Town of Culpeper’s recent zoning overhaul, they were not banned under this designation — a major advantage for Willow Grove. All necessary utilities are already present and accessible on the property, including gravity-fed sewer, power and water. Comcast is readily available to supply internet as well. Located in an area with a near-zero rental vacancy rate, this presents a strong long-term investment opportunity. A strong cap rate for long-term rentals is projected, incorporating short-term rental units could potentially increase that return even further. Approved blueprints and all related documents are available upon request.

Property Information

Property type
Commercial Sale
Lot size
2.45 acres
Parking spaces
56
Zoning
RX
Days on market
99
MLS® Listing#
VACU2012828

Property Features

Cooling
None
Heating
None
Parking
Parking Lot
Water source
None

Schools

District
CULPEPER COUNTY PUBLIC SCHOOLS

Financial Details

Annual taxes
$2,554Tax year 2025
Assessed value
$520,100
Parcel number
40 75

Directions

From Culpeper: 522N towards Sperryville, take 3rd exit at the roundabout onto Virginia Ave to property on left with sign

Listing Courtesy: RE/MAX Gateway - 5403411000

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