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Kilmarnock Crossroads James B Jones Hwy 12 Unit Apartment Building $5,750,000 ($479,167/Unit) Kilmarnock, VA 22482
Investment Highlights
- Includes 12 newly built townhomes and 23 finished lots for future development.
- Located near major retailers, schools, and healthcare facilities in Kilmarnock.
- Proforma gross income of $253,680 with strong potential for growth.
- Offered at $5,750,000 for the entire project.
Executive Summary
Kilmarnock Crossroads presents a unique investment opportunity in the growing Northern Neck region of Virginia. This offering includes 12 newly constructed townhomes and 23 finished lots, providing immediate income potential and future development upside. The property is fully serviced with all utilities to the site and offers flexible zoning and lot sizes, accommodating a range of residential configurations.
The project is positioned along James B Jones Highway, offering convenient access to the town of Kilmarnock and surrounding communities. The area features a strong local amenity base, including national retailers such as Walmart, CVS, and Tractor Supply, as well as dining options and essential services. Nearby institutions include Lancaster Elementary School and Rappahannock General Hospital, enhancing the appeal for families and long-term residents.
With a proforma gross income of $253,680 and a total asking price of $5,750,000, this property offers investors a compelling opportunity to acquire a stabilized asset with additional development potential. The combination of new construction, finished lots, and a desirable location positions Kilmarnock Crossroads as a rare find in a market with limited multifamily supply.
The project is positioned along James B Jones Highway, offering convenient access to the town of Kilmarnock and surrounding communities. The area features a strong local amenity base, including national retailers such as Walmart, CVS, and Tractor Supply, as well as dining options and essential services. Nearby institutions include Lancaster Elementary School and Rappahannock General Hospital, enhancing the appeal for families and long-term residents.
With a proforma gross income of $253,680 and a total asking price of $5,750,000, this property offers investors a compelling opportunity to acquire a stabilized asset with additional development potential. The combination of new construction, finished lots, and a desirable location positions Kilmarnock Crossroads as a rare find in a market with limited multifamily supply.
Property Facts
| Price | $5,750,000 | Building Class | C |
| Price Per Unit | $479,167 | Lot Size | 12.98 AC |
| Sale Type | Investment | Building Size | 13,484 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment | Cross Streets | Black Stump Road |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R2 | ||
| Price | $5,750,000 |
| Price Per Unit | $479,167 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 12.98 AC |
| Building Size | 13,484 SF |
| No. Stories | 2 |
| Year Built | 2026 |
| Cross Streets | Black Stump Road |
| Opportunity Zone |
Yes |
| Zoning | R2 |
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Property Taxes
| Parcel Number | 23-114 | Improvements Assessment | $0 |
| Land Assessment | $32,500 | Total Assessment | $32,500 |
Property Taxes
Parcel Number
23-114
Land Assessment
$32,500
Improvements Assessment
$0
Total Assessment
$32,500
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Kilmarnock Crossroads | James B Jones Hwy
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