TITLE:
12 Acres, Damascus, VA near Appalachian & Creeper Trails
CONTROL:
Owner
VALUE:
$125,000
LOAN:
$0
EQUITY:
$125,000
TYPE:
Land
HAVE:
12 acres of land in a pocket of the Jefferson National Forrest near Damascus, VA. The Appalachian Trail goes by this property to the rear. The Virginia Creeper Trail (Bike) is across the road. Damascus has become a destination town.
ADDRESS:
US Rt. 58, just east of Damascus, VA, Damascus, Virginia
BENEFITS TO NEW OWNER:
Development potential for luxury cabins, RV park, 2nd home, recreational, etc. Many possibilities. There is no other vacant land like this. In discussions with power company to bring electric to this site now.
GROSS SCHEDULED INCOME:
$0
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$0
EXPENSES:
$420
NOI:
$-420
DEBT SERVICE:
$0
CASH FLOW:
$-420
CAP RATE:
0.00%
BENEFITS SOUGHT:
Want to move on to another project, to be determined. Could also JV with you. Prefer to cash out and do a 1031 exchange into property closer to home.
CAN ADD:
Can add expertise and management in other areas.
REMARKS:
Many possibilities with this land, and many possibilities with this seller. There is not another parcel of land like this. Small pocket of land in the middle of the Jefferson National Forrest. Google "Virginia Creeper Trail" in Damascus, VA to learn more.
COUNSELOR:
Michael Lane
Magnum Real Estate Advisors, LLC
1091 Eastwind Drive
Westerville, Ohio, 43081
