100 Nadia St - Commercial LAND FOR SALE


Manassas, VA 20111 165,528 SF
$6,200,000 USD
571-230-5456
100 Nadia St, Manassas, VA for Sale
$6,200,000 USD
Commercial LAND - FOR SALE
1/9
165,528 SF

100 Nadia St
Manassas, VA 20111


HIGHLIGHTS

  • Downtown Urban environment
  • low vacancy and steady rent growth
  • Diverse unit Mix: (6) Studios, (62) 1 bedroom, (42) 2 bedroom
  • Low cost land development
  • Surface Parking - No Garage
  • Projected Gross rent is $2.725M

OVERVIEW

We are pleased to present an exceptional investment opportunity in downtown Manassas Park City. This shovel-ready development offers a prime urban location with approved plans for a multifamily building that promises significant financial advantages and robust returns. The development encompasses 2.3 acres and includes a fully approved, shovel-ready plan for a 110-unit multifamily residential building with a total area of 115,535 square feet. The unit mix consists of (6) Studios, (62) 1 Bedroom, (42) 2 Bedroom. The structure will feature seven levels, utilizing either wood or steel frame construction, and will include surface level parking providing a huge cost advantage over garage or covered parking. The financial incentives for this project are substantial, including no proffers or impact fees, resulting in a savings of $1.65 million. Additionally, an estimated $1.6 million in tax savings over ten years is available through a tax abatement plan, with no taxes in the first year. This enhances the attractiveness of this investment by providing immediate cost reductions and long-term financial benefits. The project is strategically located within an Opportunity Zone and a Qualified Census Tract (QCT), providing additional tax benefits and incentives for investment. With estimated gross rents of $2.7 million annually, this development reflects strong market demand and favorable rental rates in the area. We invite interested investors to consider this prime development opportunity in Manassas Park City. With its approved plans, significant financial incentives, and strong revenue potential, this project is poised for success and offers a lucrative return on investment..

FOR SALE DETAILS

PRICE

$6,200,000 USD

PRICE/ACRE

$1,631,579/AC

PRICE/SF

$37 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

110 Unit MF Development

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Multi-Family

LAND ACRES

3.8 AC

LAND SF

165,528 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

MU

APN/PARCEL ID

24-A-1C

ASK ABOUT THIS PROPERTY

Khaled AlhajbehSRG CommercialMore Info
571-230-5456

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Khaled AlhajbehSRG CommercialMore Info
571-230-5456

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.