108 Church LnTappahannock, VA 22560

Property Details for 108 Church Ln

Year built

1800

Lot size

0.34 AC

Property size (Sq ft)

1,894 SF

Zone code

CC1

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

32B 14 L 7

APU

32B14L7

Description

This exceptional commercial property, located at 108 S Church Lane in Tappahannock, Virginia, presents a unique investment opportunity. The 1,893 square foot building, classified as commercial, industrial, and residential, offers significant potential for a variety of uses. Originally constructed in 1983 and completely rebuilt from the studs that year, the structure boasts a two-story layout with three to four bedrooms and three full bathrooms. Its past use as a rental property speaks to its inherent income-generating capabilities. Situated on a lot with no acreage, the building enjoys high visibility and accessibility due to its prime location on Route 17. While some interior updating is recommended to maximize its value, this property represents a strong investment for those seeking a hands-on project with substantial return potential. The building's versatile zoning allows for a range of commercial and residential applications, making it an attractive option for both seasoned investors and first-time buyers. The asking price of $240,000 reflects the property's current condition and the significant upside potential after renovations. This is a chance to acquire a well-located property in a growing area, ready for its next chapter.

• CAP approach

  CAP return

  Valuation

  6%

  $606,939

  6.5%

  $560,251

  7%

  $520,233

• Comparable approach

  Method

  Valuation

  Relative Method

  $490,291

  Geo Method

  $490,291

• Alternative Use

  Use

  Valuation

  Residential

  $560,251

  Hospitality

  $513,187

  Educational

  $426,966

  Medical

  $441,650

  Retail

  $664,169

Location Insight

City

Tappahannock

County

Essex

State

Virginia

Latitude

37.9296

Longitude

-76.8613

Property Tax & Assessments

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