11947 LEE Highway, Sperryville, VA 22740
MULTI_FAMILY - Cottage - SPERRYVILLE, VA
- Added:
- Jan 8, 2026
- Days on Market:
- 155
- Last Refresh:
- Jun 12 at 4:06 pm
Property Features for 11947 LEE Highway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- Standard status
- Active
- Size
- 1,260 SF
- Lot size
- 1.37 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2149
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Ductless
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Vinyl Siding
- Architectural style
- Cottage
Listing agent Robert Glenn Chapman IV License #0225261124 (703) 887-0895
Listing office Cheri Woodard Realty 37 Main Street, SPERRYVILLE, VA (540) 987-8500
Listing date Jan 8, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Rare multi‑family income property with four grandfathered residential units and one commercial unit.
- Highway Commercial zoning allows for diverse uses including short‑term rentals, retail, food service, and hospitality.
- High‑traffic location on Rt 211 near Shenandoah National Park entrance (2 million+ vehicles per year).
- Opportunity to increase income by finishing/leasing unused spaces, raising rents, and rehabbing fruit stand.
- Served by essential utilities: electric, propane, private well, town sewer, and high‑speed internet.
- Two structures included on one parcel, built in 1900 with cottage architectural style.
Overview
Located in Rappahannock County at 11947 and 11951 Lee Highway (together for sale), the property is positioned along Route 211, described in the remarks as a highly traveled corridor. The listing also notes proximity near the Thornton Gap entrance to Shenandoah National Park. The parcel is zoned Highway Commercial, which the remarks state supports a multitude of by-right uses, including short-term rentals, retail, food service, and hospitality.
The unit mix may appeal to operators seeking on-site residential income while also retaining flexibility for commercial use under the Highway Commercial zoning. Utilities identified for the property include electric, propane, private well, town sewer, and high-speed internet, supporting a range of tenant and operational needs for both residential and commercial spaces.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.1k | $50.04 |
| − Vacancy | −$2.8k | −$2.25 |
| EGI | $60.2k | $47.79 |
| − OpEx | −$18.1k | −$14.34 |
| NOI | $42.1k | $33.45 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Sperryville
- County
- Rappahannock
- State
- Virginia
- Longitude
- -78.23213
- Latitude
- 38.65929
