Current Use by Public Records
- Commercial real estate
Property Details for 110 Merifield Rd
- Year built
- 1975
- Lot size
- 0.14 lot acres
- Property type
- Commercial real estate
Description
This Willis, VA commercial property presents a compelling investment opportunity. The property, located at 110 Merifield Road, comprises a remodeled and updated two-unit building totaling approximately 2,088 square feet on a 0.14-acre lot. Recent renovations, completed in 2022 for the interior and 2021 for the exterior, ensure the property is in excellent condition. A larger well pump was installed in 2023, enhancing the property's functionality. Each unit has its own heating and air conditioning system. The lower unit features one bedroom and one bathroom, along with an enclosed rear porch. The upper unit offers two bedrooms and one bathroom. Currently occupied by month-to-month tenants willing to remain, this property boasts a proven track record of consistent cash flow, generating approximately $24,600 annually. Its convenient location offers easy access to Floyd and Hillsville, Virginia, within a 30-minute drive. This is an ideal investment for those seeking a stable, cash-positive rental property with recent upgrades and a strong tenant base. The asking price is $179,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Willis
- County
- Floyd
- State
- Virginia
- Longitude
- -80.4852
- Latitude
- 36.8567
