Rare opportunity to acquire a well-located, elevator-served hospitality asset in the heart of downtown Blacksburg and a primary commercial corridor. Originally designed as an inn, the property features 34 existing guest units across three floors, supported by a central corridor layout, dual stairwells, elevator access, and covered parking. The building is a solid physical structure with modernized common areas and operational infrastructure in place, but the true value lies in its repositioning potential. With consistent unit dimensions and stacked plumbing, the property is ideally suited for conversion to mixed-use or multifamily, pending approvals. A strategic reconfiguration can yield a mix of studio and one-bedroom units, capitalizing on strong demand from tenants seeking walkable, downtown living adjacent to Virginia Tech. Execute a phased or full conversion to multifamily or hybrid housing, with minimal structural modification required. This is a compelling reuse opportunity.
Listing courtesy of Nest Realty SWVA.
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