Mixed-Use Property with Student
For Sale
$850,000
1046 Terrace Drive, Marion, VA 243554
Commercial Sale, Marion, VA
Property Size8,250 SF
Lot Size0.69 Acres
Price / SF$103.03
Days on Market19
Property Features for 1046 Terrace Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3
Parking
25
Lot features
City Lot, Plat Recorded
Directions
Exit 47 of I-81, south on Lee Highway off interstate. Right onto Park Blvd, right onto Terrace Drive. Property on right.
Subdivision
Marion
Standard status
Active
Size
8,250 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3745
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
coin-operated laundry
mail boxes
Building Details
Year built
1985
Flooring type
Tile, Vinyl
Building materials
Brick, Masonry
Listing Agency:
Appalachian Realty Co.
(276) 783-5173
Listed By:
Vickie Stamper · License #0225024307
(276) 780-3172
Added: Aug 4
Changed: Aug 22
Last Checked: Aug 22 at 1:06PM
MLS# 94332
Copyright © 2026 Southwest Virginia Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8250 sq.ft. mixed-use property includes four residential suites, each designed for two students with private bathrooms, closets, study areas, and shared kitchen, living, and dining space. Granite countertops, tub/shower enclosures, pantry storage, a coin-operated laundry area, and onsite mailboxes serve the residential component. One unit is handicap accessible, and the main-level rentals are currently at full capacity with 2-year lease terms.
The lower level is configured as a health care office unit with multiple offices, storage, two half baths, and two kitchenettes. The building was constructed in 1985 with brick and masonry materials and includes tile and vinyl flooring, heat pump and central heating, central air, public water, public sewer, and cable availability. The property occupies 0.69 acres in Marion, Virginia.
The lower level is configured as a health care office unit with multiple offices, storage, two half baths, and two kitchenettes. The building was constructed in 1985 with brick and masonry materials and includes tile and vinyl flooring, heat pump and central heating, central air, public water, public sewer, and cable availability. The property occupies 0.69 acres in Marion, Virginia.
Key Highlights
- 8250 sq.ft. mixed‑use property on 0.69 acres
- Four suites designed for two students each, with private baths and shared living areas
- Main‑level residential rentals currently at full capacity with 2‑year lease terms
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - R3-zoned building combines residential suites with a separately configured health care office area.
Where is this mixed-use property located?
The property is located at 1046 Terrace Drive Marion, VA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8250 sq.ft. mixed‑use property on 0.69 acres; Four suites designed for two students each, with private baths and shared living areas; Main‑level residential rentals currently at full capacity with 2‑year lease terms
