145 Suffolk Ave, Richlands, VA 24641
sale
$800,000
|
Other
Courtesy Of C&C REALTY (CORDLE & COMPANY)
Investment Opportunity - 125, 129 & 145 Suffolk Ave, Richlands, VA Calling all investors! This rare mixed-use portfolio in downtown Richlands includes three adjoining properties offering a strong and diverse income stream. Featuring five commercial units, one storage space, and seven renovated apartments plus one unfinished apartment, this investment combines residential and commercial opportunities under one roof. Current tenants include a long-term optometry office, hair salon, med-spa, retail boutique, and established residential renters. One retail space provides immediate growth potential for a new lease. All units are on separate utilities, minimizing owner expenses. The property has a metal and rubber roof, with one side recently replaced for long-term durability. Apartments feature low-maintenance interiors with baseboard heat, window A/C, and updated finishes. Tenants enjoy convenient back-lot parking and proximity to local amenities. This property offers stable, predictable income with built-in annual rent increases and a proven tenant history. With its prime Suffolk Avenue location, updated structure, and mix of professional, retail, and residential tenants, it's an ideal investment for those seeking dependable cash flow and long-term value in the Southwest Virginia market.
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Property Features
- Age: Over 50 Years Old
- Exterior Type: Masonry
- Exterior Type: Brick
- Floor Covering: Vinyl
- Floor Covering: Tile
- Floor Covering: Carpet
- Floors: 2
- MLSID: 104062
- Parking Spaces: 10
- Roof Type: Metal
- Roof Type: Rubber
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