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 Market46
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
Central, Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Water source
Public
Amenities
coin-operated laundry
on-site mailboxes
granite countertops
handicap accessible unit
Building Details
Year built
1985
Flooring type
Vinyl, Tile
Building materials
Brick, Masonry
Listing Agency:
Appalachian Realty Co.
(276) 783-5173
Listed By:
Vickie Stamper · License #0225024307
(276) 780-3172
Added: Aug 22
Changed: Sep 30
Last Checked: Oct 6 at 5:06PM
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.
Built in 1985, this 8,250-square-foot mixed-use property sits on 0.69 acres and combines student housing with a healthcare office. The main level contains four suites, each arranged for two students with private bathrooms, closets, study areas and space for bedroom furnishings. Residents share kitchen, living and dining areas. Granite countertops, pantry storage and coin-operated laundry are among the on-site features; one unit is handicap-accessible.
The lower level is leased as a healthcare office with multiple offices, storage, two half baths and two kitchenettes. The student suites have two-year lease terms and were at full capacity, with internet and utilities included. Public water and sewer serve the property, which is zoned R3.
The lower level is leased as a healthcare office with multiple offices, storage, two half baths and two kitchenettes. The student suites have two-year lease terms and were at full capacity, with internet and utilities included. Public water and sewer serve the property, which is zoned R3.
Key Highlights
- 8,250‑square‑foot building on 0.69 acres
- Four student suites accommodate two students each
- Private baths, closets and study areas in the student suites
Property Analytics
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Current Use
Lease Details
1
Office units
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four furnished student suites share kitchen and living areas, alongside a separate healthcare office on the lower level.
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: 8,250‑square‑foot building on 0.69 acres; Four student suites accommodate two students each; Private baths, closets and study areas in the student suites
