UNDER CONTRACT SUBJECT TO BANKRUPTCY COURT APPROVAL – COMMERCIAL INVESTMENT LAND – List Price: $1,500,000 – This property is under contract subject to higher and better bids and subject to the approval of the US Bankruptcy Court. We anticipate that the Bankruptcy Court will hold a hearing on Tuesday, October 24, 2017 at 9:30am. Additional details will be posted on RealtyMarkets.com as they become available.
Located in the center of one of the fastest growing areas in Prince William County, Virginia, this 7.40-acre parcel is strategically located among the rapid development happening now in North Woodbridge. With a B-1, General Business zoning and all utilities available to the site, this property has potential for many commercial development uses. Located in the North Woodbridge Small Area Plan, a targeted high growth economic development area that has had nearly $600 million in recently completed and scheduled public infrastructure improvements, this property is destined to become even more valuable given the pending revised North Woodbridge Small Area Plan that, if approved, would upgrade the zoning to Urban Mixed Use (UMU) and allow up to a 3.0 FAR. If completed, this area would be one of the newest, highest-density development areas in Prince William County. This parcel is conveniently located near I-95, Rt. 1 and Rt. 123 and nestled in between several other properties positioned for redevelopment. Brand new, 360 luxury apartments are under construction across Annapolis Way with another 360 condominiums scheduled for completion by 2021. The marina is across the street along with a well-known restaurant and special events center. The subject property backs up to a regional shopping center that’s ripe for redevelopment. This property is being sold by a Chapter 7 Trustee. All sales are subject to the approval of the US Bankruptcy Court, Eastern District of Virginia, Alexandria Division.