100 Nadia St - 110 Unit MF Development

We are pleased to present an exceptional investment opportunity in downtown Manassas Park City. This shovel-ready development offers a prime urban location with approved plans for a multifamily building that promises significant financial advantages and robust returns. The development encompasses 2.3 acres and includes a fully approved, shovel-ready plan for a 110-unit multifamily residential building with a total area of 115,535 square feet. The unit mix consists of (6) Studios, (62) 1 Bedroom, (42) 2 Bedroom. The structure will feature seven levels, utilizing either wood or steel frame construction, and will include surface level parking providing a huge cost advantage over garage or covered parking. The financial incentives for this project are substantial, including no proffers or impact fees, resulting in a savings of $1.65 million. Additionally, an estimated $1.6 million in tax savings over ten years is available through a tax abatement plan, with no taxes in the first year. This enhances the attractiveness of this investment by providing immediate cost reductions and long-term financial benefits. The project is strategically located within an Opportunity Zone and a Qualified Census Tract (QCT), providing additional tax benefits and incentives for investment. With estimated gross rents of $2.7 million annually, this development reflects strong market demand and favorable rental rates in the area. We invite interested investors to consider this prime development opportunity in Manassas Park City. With its approved plans, significant financial incentives, and strong revenue potential, this project is poised for success and offers a lucrative return on investment.. The financial incentives for this project are substantial, including no proffers or impact fees, resulting in a savings of $1.65 million. Additionally, an estimated $1.6 million in tax savings over ten years is available through a tax abatement plan, with no taxes in the first year. This enhances the attractiveness of this investment by providing immediate cost reductions and long-term financial benefits. The project is strategically located within an Opportunity Zone and a Qualified Census Tract (QCT), providing additional tax benefits and incentives for investment. With estimated gross rents of $2.7 million annually, this development reflects strong market demand and favorable rental rates in the area. We invite interested investors to consider this prime development opportunity in Manassas Park City. With its approved plans, significant financial incentives, and strong revenue potential, this project is poised for success and offers a lucrative return on investment..