Mixed-Use Student Housing
For Sale
$899,999
1046 Terrace Drive, Marion, VA 24354
Updated mixed-use property combines student accommodations with a leased health care office component.
Property Size8,250 SF
Price / SF$109.09
Days on Market777
Property Features for 1046 Terrace Drive
General Information
Standard status
Active
Size
8,250 SF
Occupancy
100%
Financials
Gross Income
$102,000
Average Monthly Rent
$800
Units
Multifamily Units
8
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,745
Amenities
coin-operated laundry
mailboxes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Appalachian Realty Co.
(276) 780-3172
Listed By:
Vickie Stamper · License #0225024307
(276) 780-3172
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 30
Last Checked: Aug 30 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Appalachian Realty Co.
Investment Insights
Based on property information with market context.
This 8,250-square-foot mixed-use property at 1046 Terrace Drive combines student accommodations with a health care office component. The main level contains four suites designed for two students each, with private bathrooms, closets, study areas, and shared kitchen, living, and dining space. Granite countertops, tub and shower enclosures, pantry storage, internet, and utilities are included. A coin-operated laundry area and on-site mailboxes serve the residents, and one unit is handicap accessible.
The lower level is configured as a health care office with multiple offices, storage, two half baths, and two kitchenettes. The main-level rentals are occupied under two-year lease terms, while the office portion is leased separately. The property contains 8,250 square feet of updated improvements and supports both residential and office rental uses within one building.
The lower level is configured as a health care office with multiple offices, storage, two half baths, and two kitchenettes. The main-level rentals are occupied under two-year lease terms, while the office portion is leased separately. The property contains 8,250 square feet of updated improvements and supports both residential and office rental uses within one building.
Key Highlights
- 8,250‑square‑foot mixed‑use property at 1046 Terrace Drive
- Four main‑level suites accommodate 2 students each, totaling 8 rentals
- Private bathrooms, closets, study areas, and shared kitchen/living/dining spaces
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 24354, VA
14,446
Population
6,929
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
86%
High-School Grad
119.7 sq mi
ZIP Area
121
Density / Sq Mi
$42,076
Median Household Income
$35,662
Median Earnings
$686
Median Rent
$142,100
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated mixed-use property combines student accommodations with a leased health care office component.
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 $899,999.
What are key features of this property?
This property features: 8,250‑square‑foot mixed‑use property at 1046 Terrace Drive; Four main‑level suites accommodate 2 students each, totaling 8 rentals; Private bathrooms, closets, study areas, and shared kitchen/living/dining spaces
