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1381 Us Highway Bsn 340
Luray, VA 22835
$1,750,000
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
Spectacular Shenandoah Valley Wedding and Event Venue for Sale! Welcome to an extraordinary opportunity to own and operate the Shenandoah Valley Wedding and Event Venue, a thriving business set against the breathtaking backdrop of Shenandoah National Park and Massanutten Mountain. This vintage 1830s home offers a unique blend of historic charm and modern amenities, perfect for hosting unforgettable weddings and events. Key Features: Historic Home: This beautiful 1830s residence provides elegant facilities for wedding parties, including overnight accommodations, a rehearsal dinner space, and a pool house/groom's cottage for the groom's party. The property's historic remnants serve as picturesque backdrops for memorable wedding and event photography. Banquet Hall: The venue includes a banquet hall with approved permits from Page County for up to 299 occupants. Enhanced septic infrastructure and ample parking ensure smooth operations for large gatherings. Spectacular Views: Guests will be enchanted by the stunning views of Shenandoah National Park and Massanutten Mountain, adding natural beauty to every event. Bookings and Transition: The venue is already booked for 2024-2025, providing a steady stream of business that must be honored. The sellers are open to discussions regarding a transition agreement to ensure a seamless handover. Additional Parcel: The property includes an extra parcel from a former poultry farm, featuring its own driveway, electric service, and two wells. This offers numerous expansion possibilities for entrepreneurial minds. Vineyard Potential: With three rows of grape vines almost ready to fruit, there is potential for vineyard expansion or the creation of a boutique winery. Airbnb/B&B Options: The venue's proximity to popular attractions such as Luray Caverns, Shenandoah River, and Skyline Drive makes it an ideal location for Airbnb or Bed & Breakfast ventures. Don't miss this rare chance to own a turnkey wedding and event venue with everything needed to plan and execute successful events. Contact us today to explore this incredible opportunity and take the first step towards owning a piece of Shenandoah Valley history while running a profitable business! Please do not tour without an appointment. This is an operating business. Do not disturb business, owners, or events. All tours through listing agent by appointment only. Likely tour days restricted to Tuesday, Wednesday, and Thursday. Also includes parcels - 51 A 80, and 51 A 82A
Property Information
Lot Size
5 acre(s) square ft
Property Type
Commercial
Year Built
1820
MLS Number
VAPA2002790
Location
Address
1381 US HIGHWAY BSN 340
City
LURAY
State
VA
Zip Code
22835
County
PAGE
Listing
Provider
Keller Williams Manassas, original listing
Name
Keller Williams Manassas
Phone
(703) 901-2985
Office Name
Keller Williams Realty/Lee Beaver & Assoc.
Office Phone
(703) 901-2985
Agent Name
Ed Martin

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.