8,250 sqft

$850,000

1046 Terrace Drive, Marion VA, 243554

Price per sqft$103.03

Built in1985

Property size8,250 sqft

Property typeCommercial

Overview

Active

Listed Jul 1, 2024

Updated 2 weeks ago

Instant return of 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.

Additional information

MLS^® ID: 94332

Interior Features

Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.69 Acres

Other Property Details

Taxes: $3,745
Tax Frequency: Annually

Listed by Vickie Stamper with Appalachian Realty Co. 276-780-3172

Based on information from the Southwest Virginia Association of REALTORS as of 9/3/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 9/3/2026 at 5:43 AM UTC Last Checked: 5:43 AM UTC