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865 John Marshall Highway
Front Royal, VA 22630
$2,299,999
Conventional
Property
Bedroom
--
Bathroom
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Property Type
Conventional
Square ft
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Property Description
SELLER MOTIVATED to discuss creative sale or lease opportunities at this .69 acre C-1 property in prime location. DC TOURISTS headed to Shenandoah National Park entrance (at mile 0 of the well-traveled Skyline Drive in Front Royal) & on the way to the Shenandoah River State Park MUST PASS THIS LOCATION if following GPS from DC! Adjacent to a gas station and shopping center (with Big Lots, Harbor Freight and more) near the intersection of Rt 55 and Rt 522, several large shopping centers and a plethora of businesses and food establishments. Perfect for investors looking for a property to LAND LEASE & excellent opportunity for all sorts of businesses needing excess PARKING (60+ spaces possible). Property was remodeled and updated in 2021 and is currently home to an 18+ year popular restaurant (seller plans to retire and pursue other ventures). As designed currently, the property offers a 38x36 banquet/meeting room with separate men’s and women’s restrooms and second bar area through double doors that could be an independent space with private entrance (plus access to rear potential outdoor seating). Main dining space measures 37x34 with a 24 ft bar area and a private men’s and women’s restrooms. Kitchen/prep/storage/office area is huge with a rear entrance and access to a partial basement for excess storage. Restaurant equipment is negotiable. Seller is also offering $8k NNN lease and willing to offer creative terms. Ideal location for RETAIL, RESTAURANT, BANK, CONVENIENCE STORE, GAS STATION, OFFICE, BOUTIQUE HOTEL, FARM MARKET, VAPE STORE, DRIVE THROUGH (2 curb entrances from John Marshall Hwy) or even a much needed TESLA SUPERCHARGING STATION for those traveling on Skyline Drive. Seller will consider attractive owner financing terms w/ 40% down. Approx 4 miles from both I-66 Exit 13 & I-66 Exit 6, 11 miles from the I-66 & I-81 intersection yet under 70 miles from Washington DC and 55 miles from Washington Dulles International Airport. Easy to show! Video tours available! HIGHLIGHTS__Approx 4 miles from both I-66 Exit 13 & Exit 6, 11 miles from the I-66 /I-81 intersection yet under 70 miles from Washington DC and 55 miles from IAD MUST pass this location when following GPS from DC to Shenandoah River, Shenandoah River State Park, Skyline Drive Entrance, Shenandoah National Park Fantastic signage/billboard on property! Corner lot near the first busy intersection coming into Front Royal from Northern VA! Additional Acreage may be available via boundary adjustment per adjacent landowner! Owner willing to get creative with sale or lease negotiations and willing to finance with 40% down. Currently home to an 18+ year proven successful restaurant business--Restaurant owner/chef is retiring and selling or leasing this property Property could be divided--as is it offers two separate spaces (w/ sep bathrooms and bars) that are connected via double doors Zoning Corner lot.Heavy commercial.Adjacent to multiple shopping centers,large 7-11,KFC & large office building.Just before first major intersection in FR.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Commercial Sale-Other
Year Built
1980
MLS Number
--
Location
Address
865 JOHN MARSHALL HIGHWAY
City
FRONT ROYAL
State
VA
Zip Code
22630
County
WARREN
Listing
Name
Phone
(703) 901-2985
Office Name
Office Phone
(703) 901-2985
Agent Name
Beth Waller
Agency Phone
(703) 901-2985

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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.