48 W BOSCAWEN, WINCHESTER, VA 22601
WINCHESTER · WINCHESTER CITY County
Key Facts
Description
Beautifully restored and fully modernized mixed-use building in the heart of historic Winchester. This exceptional offering includes a fully leased commercial building with three strong-credit tenants, a valuable adjacent parking lot approved for future mixed-use development, and a third floor ready for residential conversion. Located just one block from the historic Old Town Winchester Walking Mall, this legacy investment property offers more than 9,300 square feet of space with the first and second floors completely renovated and occupied. The third floor presents an outstanding value-add opportunity for apartment development, with potential eligibility for Historic Tax Credits. The property is also located within an Enterprise Zone, providing access to additional grant and incentive programs. The sale includes the adjacent parking lot (Tax ID 173-01-E-1), which is approved for multifamily development or can continue to serve as a highly desirable dedicated parking facility for tenants and customers. Current net operating income exceeds $80,000 annually, providing immediate cash flow with significant upside potential. Recent capital improvements include a metal roof, new HVAC systems, and modern tenant build-outs throughout the building. This unique asset offers a diversified income stream with retail and office tenants in place, while creating future opportunities for residential development on both the third floor and the adjacent parking lot. Ideal for a 1031 exchange buyer or investor seeking stable income, long-term appreciation, and redevelopment potential in one of the Shenandoah Valley's most desirable downtown locations. Conveniently located one block from the Braddock Street Parking Garage. Rarely does an opportunity of this caliber become available in Downtown Winchester. Contact the listing agent to schedule a private showing.
Property Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Year Built
1927
Living Area
9,355 sq ft
Lot Size
3291.00 acres
Parking Spaces
500
Zoning
B1
Days on Market
5
MLS® Listing#
VAWI2011088
Property Features
Appliances
Cooling
Heating
Parking
Construction
Roof
Sewer
Water Source
Schools
- District:
- WINCHESTER CITY PUBLIC SCHOOLS
Financial Details
Annual Taxes
$7,666
Tax year 1997
Assessed Value
$964,300
Parcel Number
193-01-A-4
Directions
Corner of Boscawen and Braddock.
Affordability Calculator
$344,800
Estimated monthly payment
$9,176/mo
Principal $1,379,200 · Est. interest $1,924,107 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in WINCHESTER, VA
- $454,717
- Median Listing Price
- 57
- Median Days on Market
- 2,000
- Median Sq Ft
- $220
- Median Price / Sq Ft
- 302
- Active Listings
- This home’s price is 279% above the area median.
- Its price per sq ft is 16% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in WINCHESTER, VA.
Location
Points of Interest in WINCHESTER, VA
Showing the WINCHESTER area map.
Nearby Schools
Grace Lutheran Preschool
School · 0.0 mi away
Winchester Public Schools
School · 0.1 mi away
United Methodist Church
School · 0.1 mi away
Weekday School
Elementary · 0.2 mi away
City of Winchester
School · 0.3 mi away
John Handley High School
Secondary · 0.6 mi away
Winchester Public Schools
School · 0.7 mi away
Douglas Community Learning Center
School · 0.7 mi away
Virginia Avenue Charlotte Dehart Elementary School
Elementary · 0.8 mi away
John Kerr Elementary School
Elementary · 0.8 mi away
Quarles Elementary School
Elementary · 0.8 mi away
Daniel Morgan Middle School
Secondary · 1.0 mi away
James Wood Middle School
Secondary · 1.0 mi away
Frederick County Public Schools
Secondary · 1.1 mi away
Grafton School
School · 1.2 mi away
Sacred Heart Academy
School · 1.2 mi away
Pre-K Learn and Play
School · 1.3 mi away
Children of America Winchester
School · 1.3 mi away
John Kerr Elementary
Elementary · 1.3 mi away
Millbrook High School
Secondary · 1.8 mi away
Commute Calculator
Nearby Homes
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Comparable nearby listings and their asking prices.
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|---|---|---|---|---|
| 1022 HETH PLACE, WINCHESTER, VA | $1,239,000 | 4 | 8 | 5,662 |
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| Lot 7 CEDAR CREEK GRADE, WINCHESTER, VA | $1,300,000 | — | — | — |
| 0 N FREDERICK, WINCHESTER, VA | $1,315,000 | — | — | — |
| 142 LINDEN DRIVE B 106, WINCHESTER, VA | $1,350,000 | — | 5 | 6,200 |
| 1667 N FREDERICK PIKE, WINCHESTER, VA | $1,400,000 | — | — | — |
Moving Cost Estimate
EXIT Agents in WINCHESTER
Listing Courtesy: Coldwell Banker Premier - 5406629937