For Sale
Multi-Family Development Opportunity with Possible Historic Tax Credits
550 Grove Street Bedford Virginia 24523
Asking$2,800,000
For Sale
550 Grove Street Bedford Virginia 24523
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement.
Bedford has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Bedford boasts many classical buildings in its historical district. Centertown of Bedford is in the National Register of Historic Places in the United States, and rightfully so. Check out the local city museum, antique shops, the unique farmers market, or Centerfest, a popular festival in the historic district each September.
Natural beauty abounds; there are two peaks rising from the Blue Ridge Mountains, giving Bedford a fantastic backdrop. The Flat Top and Sharp Top, along with Harkening Hill, shouldn’t be missed. Peaks of Otter offers dozens of wildflower walks, hiking trails, picnic areas, campgrounds and lodges. The National D-Day Memorial, The Avenel Plantation, and Thomas Jefferson`s Poplar Forest are among other popular attractions.
Ken Campbell is a commercial real estate veteran who brought over twenty-five years of transaction experience to his role as a broker at One South Commercial in 2019. Ken is highly experienced in transactions locally and across North America. His expertise spans the commercial real estate spectrum with most of this work occurring in the office and industrial sectors, and he obtained an MBA with a concentration in real estate and urban land development from VCU.
Ken has represented both tenants and landlords across the country since he transitioned from in-house corporate real estate to brokerage over ten years ago. He has worked with a wide range of clients from individuals to Fortune 500 companies. Ken’s experience and knowledge provide his clients with a tremendous advantage in real estate transactions and make him a trusted and dependable partner.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
