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1046 Terrace Drive Marion, VA $ 950,000
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$ 950,000 Get more info
1046 Terrace Drive
$ 950,000
Back to search
Share Save

1046 Terrace Drive

Marion, VA, 24355
$ 950,000
Bedrooms-- Baths-- Sq 8,250

Monthly Estimate*

$ 5,927

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View a Virtual Tour

Commercial Property for sale in Marion, VA

for $950,000. This 8,250 square foot building was built in 1984 on a lot size of 0.69.

Don't overlook this great investment....1046 Terrace Drive Student Suites & Business Rental Investment Property....Tour this facility that features 8250 sq.ft. of updated & well maintained, established rentals. Main level consists of rentals w/2 year lease terms, currently at full capacity, & include 4 suites housing 2 students each. Each student has a spacious en suite with private bath, closet, study desk area & enough room for a queen size bedroom suite. Shared common area is kitchen/living/dining. All suites have granite countertops, tub/shower enclosures & pantry storage. Internet and all utilities are included in rent. Coin operated laundry area open to all residents. Mail boxes onsite. One Handicap Unit. 8 rentals at $800/mo. Lower level is leased for $2100/mo as a health care office unit. It contains multiple offices & storage, 2 half baths & 2 kitchenettes. This investment will begin as a profit & pay for itself from the start. 48 hour appt to show. Prospects must be preapproved before viewing.

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Commercial Active

Price

$ 950,000

Property Type

Commercial

Taxes

$ 3,745

Style

Free Standing

Lot Size

0.69

Year Built

1984

Town/City

Marion

County/Region

Smyth

MLS | Web ID

94332
Features
Interior
Interior Amenities Other
Flooring Tile Vinyl
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
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General
Sewer Public Sewer
Heating Heat Pump
Cooling Central Air Heat Pump
Utilities Cable Available Electricity Connected Phone Available
Possession Close Of Escrow
Roof Other
Zoning R3
Construction Materials Brick Masonry
Year Built 1984
Property Subtype Mixed Use
Tax Year 2024
Current Use Professional/Office Other
Gross Income 8500
County Smyth
Net Operating Income 7279
New Construction N
Property Type Commercial Sale
HOA N
Attached Garage N
Garage Y/N N
Other Structures Additional Structures(None)
Status Active
Directions Exit 47 of I-81 south on Lee Highway off interstate. Right onto Park Blvd right onto Terrace Drive. Property on right.
City Marion
MLS Area Marion
Lot Size Units Square Feet
Lot Size Square Feet 30056.4
Carport Y/N N
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 3745
Showing Instructions Appointment Only Schedule Through Navica Other-See Remarks
Home Warranty Y/N N
Property Condition Exterior Condition: Good Interior Condition: Good
Additional Parcels Y/N N
Virtual Tour tour.usamls.net/1046-Terrace-Drive-Marion-VA-243554/unbranded
Structure Type Free Standing
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Tax Lot 9 & 10
Freehold IDX BBO
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Exterior
Parking Features Parking 25+ Spaces
Lot Features City Lot Plat Recorded
Water Source Public
Total Parking 25
Lot Size Area 30056.4
Spa N
Building Area Total 8250
Lot Dimensions .69
Lot Size Acres 0.69
Frontage Length Road Frontage Feet: 200
Waterfront Y/N N
Other Equipment Equipment Leased(None)
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded Features
List By
Appalachian Realty Co.

Broker

vickie.stamper@appalachianrealtors.com

Email

Affordability Calculator

$6,239
Per Month
95%
5%
0%
Monthly Principal & Interest
$5,927
Monthly Property Taxes
$312
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1875416 Elementary School
1875515 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
6/26/2025$950,000 Listed Price

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1046 Terrace Drive, Marion, VA, 24355 is a Commercial Property for sale at $950,000 with 8,250 sqft and a lot size of 0.69. 1046 Terrace Drive was built in 1984. The property's zip code is 24355 which is in Marion, VA

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