16 Main Street, Sperryville offers that increasingly hard-to-find combination of location, flexibility, income, and simplicity-right in the heart of one of Rappahannock County's most recognizable villages.

The building is presently configured as two residential units. The main-level apartment is a spacious one-bedroom with two full baths, kitchen and flexible living/work space, while the upper level offers a separate two-bedroom apartment with kitchen and full bath. Importantly, the first floor was designed with flexibility in mind and can potentially be divided into two independent spaces-a commercial office with full bath and a separate efficiency apartment with kitchen and full bath-creating the possibility of a three-unit mixed-use configuration.

Much of the heavy lifting has already been done. The building underwent an extensive renovation around 2001, including updated electrical and plumbing systems, and the two central HVAC systems were replaced in approximately 2018 and 2021. Private well, town sewer, durable metal roofing, straightforward grounds and an established rental history help make this an unusually manageable investment.

And then there's the address. Main Street properties don't get manufactured. In a village like Sperryville-where restaurants, galleries, shops, breweries and the entrance to Shenandoah National Park continue to draw both locals and visitors-owning a piece of the commercial core offers something acreage alone cannot: position.

In a market where rental housing is notoriously scarce and multifamily properties are exceptionally difficult to find, existing multi-unit buildings carry a built-in scarcity value. County zoning generally requires a special exception where multifamily is permitted at all-making properties like this far easier to own than to create. 16 Main Street is currently fully leased with extremely low / no vacancy.

Offered at $549,000, 16 Main Street is an opportunity to acquire a fully occupied, low-maintenance income property today, with enough flexibility to adapt to whatever Sperryville becomes tomorrow. Listing Agent retains financial interest in property.