203 Interstate DR, Covington, VA 24426
$4,000,000
Property Type:
Commercial
Lot Size (sq. ft.):
376,794
Status:
Closed
Current Price:
$4,000,000
List Date:
3/28/2025
Last Modified:
7/07/2025
Description
Live & Online Auction held at the property Thursday, May 29 at Noon. Property will be sold at auction, agents will be onsite for property previews on 5/14 & 5/21 from 1PM-4PM. List price required by MLS, but not reflective of the reserve price & is only the recommended starting bid & non-reflective of value. Located just off Interstate 64 in Covington, VA this is a rare offering of an over 64,000 square-foot Memory Care/Assisted Living Facility that has been recently renovated. The property features over 8 acres of land offering room for future expansion (Recently Surveyed), 76 total rooms (35 designated for memory care, 41 for assisted living), a fully equipped commercial kitchen, a fitness center, an entertainment room, & multiple offices. There is a strong need for facilities such as
Supplements: this one, don't miss the opportunity to make this investment!
More Information MLS# 915646
General Property Description
Construction Status: Completed
Total Acreage: 8.65
Flood Area: No
Gross Lot SqFt: 340000
On site Parking: Yes
Basement Y/N: No
Water Class: N/A
Gross Building SqFt: 64580
Lease Available: No
Year Built: 1984
Location, Tax & Legal
Major Area: 27 - Alleghany County
Tax ID: 57-65, 57-65B, 57-65C
Annual Taxes: 16879.99
Zoning Code: B-1
Area: 2700 - Alleghany County
Street Number: 203
Street Name: Interstate
Street Suffix: DR
State/Province: VA
Zip Code: 24426
Municipality: Alleghany County
Remarks & Misc
Directions: From Roanoke: Take I-581N to I-81N, exit 150B toward Fincastle. Go 35mi. & keep right on US-220N. Get on I-64W, then exit 16A to US-60W. R on E Madison St. R on Horse Mtn View. R on Interstate Dr.
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Commercial Type
Investment: 1
Office: 1
Views
Mountain(s): 1
Business Type
Type of Business (Historical Field): Assisted Living/Memory Care
Sale Includes
Building & Land: 1
Heating
Heat Pump: 1
Cooling
Heat Pump: 1
Water Description
Public: 1
Documents Available
Survey: 1
Topo/Aerial Map: 1
Sewer Description
Public Sewer: 1
Manufactured Homes
No HUD Tag: 1
Water Heater Type
Tank: 1
Floors
Carpet: 1
Laminate: 1
Additional Features
Other - See Remarks: 1
Contract Information
Current Price: $4,000,000
Sold Price: $4,000,000
List Date: 2025-03-28
Status: Closed
Status Change Info
Ratified Contract Dt: 2025-05-29
Sold Date: 2025-07-07
Sold Price: $4,000,000
Property Features
Limited Service: Not Limited Service
Commercial Type: Investment; Office
Sale Includes: Building & Land
Construction: Brick
Heating: Heat Pump
Cooling: Heat Pump
Floors: Carpet; Laminate
Manufactured Homes: No HUD Tag
Additional Features: Other - See Remarks
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Documents Available: Survey; Topo/Aerial Map
Views: Mountain(s)
Listing Office: WOLTZ & ASSOCIATES
Last Updated: July - 07 - 2025
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