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$ 5,950,000
Est. payment | /mo
23,940 SqFt
$ 5,950,000
Est. payment | /mo
23,940 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 23,940 sqft
Price per Sqft $248
MLS Listing ID 428323
Year Built 2008
Annual Tax Amount $34,980
Tax Year 2026
Lot Size 0.340 Acres
Property Sub-Type Commercial
Property Description
Rare opportunity to acquire a well-located, elevator-served hospitality asset in the heart of downtown Blacksburg and a primary commercial corridor. Originally designed as an inn, the property features 34 existing guest units across three floors, supported by a central corridor layout, dual stairwells, elevator access, and covered parking. The building is a solid physical structure with modernized common areas and operational infrastructure in place, but the true value lies in its repositioning potential. With consistent unit dimensions and stacked plumbing, the property is ideally suited for conversion to mixed-use or multifamily, pending approvals. A strategic reconfiguration can yield a mix of studio and one-bedroom units, capitalizing on strong demand from tenants seeking walkable, downtown living adjacent to Virginia Tech. Execute a phased or full conversion to multifamily or hybrid housing, with minimal structural modification required. This is a compelling reuse opportunity.
Location
State VA
County Montgomery
Area Blacksburg (In Town Limits)
Schools
Elementary Schools Harding Av
Middle Schools Blacksburg
High Schools Blacksburg
School District Montgomery County
Listed by Nest Realty SWVA
Nearby Locations
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