100 Nadia St Manassas Park, VA 20111
- Land
- 115,335 SF
- 2.30 lot acres
Current Use by Public Records
- Land
Property Details for 100 Nadia St
- Lot size
- 2.30 lot acres
- Property size
- 115,335 SF
- Property type
- Land
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a shovel-ready, 110-unit multifamily development in downtown Manassas Park, Virginia. Located on a 2.3-acre lot (APN 24-A-1C), this seven-story building (115,335 square feet) boasts a unit mix of six studios, sixty-two one-bedroom, and forty-two two-bedroom apartments. The project features all surface-level parking, eliminating the high costs associated with garages. Approved plans are in place under MU zoning, and construction can utilize either a wood or steel frame. Significant financial incentives are available, including no proffers or impact fees (a $1.65 million savings), and a ten-year tax abatement plan resulting in an estimated $1.6 million in tax savings (with no taxes due in the first year). The property's location within an Opportunity Zone and a Qualified Census Tract (QCT) provides additional tax benefits. With an estimated annual gross rent of $2.7 million and a pro-forma NOI of $1,725,000, this development offers a compelling return on investment. The asking price is $6,200,000 ($41,363 per unit). The address is 100 Nadia St, Manassas Park, VA 20111.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Manassas Park
- County
- Manassas Park City
- State
- Virginia
- Longitude
- -77.445
- Latitude
- 38.7675
