Courthouse Lofts
Historic Mixed-Use property 100% leased
Marketing description
Discover a rare opportunity to acquire a meticulously maintained and fully occupied historic mixed-use property at 180 and 188 E Main Street in the heart of charming Abingdon, VA. Constructed circa 1870s, these two iconic buildings offer a diverse income stream and a prime location within a vibrant historic district.
Strategically positioned directly across from the Washington County Courthouse, the property benefits from high foot traffic and visibility. Its unparalleled walkability connects tenants and patrons to Abingdon's most cherished attractions, including the historic Martha Washington Inn & Spa, the renowned Barter Theatre, the picturesque Virginia Creeper Trail, and popular dining establishments such as Summers Roof & Cellar and The Tavern.
The property has a total of 12 units, configured to maximize occupancy and appeal: 5 residential loft apartments, 2 street-level retail units, 1 street-level office unit, and 4 loft offices. This diverse tenant base ensures stable revenue and broad market appeal.
180 E Main Street underwent a comprehensive renovation in 2017, enhancing its modern functionality while preserving its historic character. This renovation included the installation of a sprinkler system servicing four of the apartment units, providing an additional layer of safety and value. The neighboring 188 E Main Street was also extensively renovated in phases from 2019 to 2021, ensuring the entire property is in excellent condition.
Currently operating at 100% occupancy, this offering presents a turnkey investment for discerning buyers. Adding to its appeal are 10+ dedicated parking spaces, a significant amenity in a bustling downtown environment. This exceptional property combines the timeless charm of historic architecture with the benefits of modern upgrades and a robust, diversified tenancy.
Investment highlights
Strong historical occupancy and annual rent appreciation. Residential tenants have separate utility meters and pay their own utilities.
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