298 Wellington DrClarksville, VA 23927

Property Details for 298 Wellington Dr

Lot size

0.40 AC

Property type

Land

Description

This exceptional 0.4-acre commercial land parcel presents a unique investment opportunity in Clarksville, Virginia. Located in Mecklenburg County, this property boasts a prime lakefront position on Buggs Island Lake (also known as Kerr Lake), offering stunning waterfront views. The asking price is $595,000. Currently improved with a duplex featuring two units, each equipped with two bedrooms, a bathroom, a kitchen, a living room, and a covered porch. The property includes access to a sandy beach and a private dock (to be completed by a specified date in the past). The existing duplex generates significant rental income, exceeding a 10% capitalization rate, making it an attractive investment for those seeking strong returns. The units are currently booked frequently through Airbnb, providing a proven track record of profitability. Showings are strictly by appointment only due to the high occupancy rate. This property offers a blend of recreational appeal and substantial investment potential, ideal for developers or investors seeking a high-yield waterfront asset in a desirable Virginia location. The property's address is 298 Wellington Drive, Clarksville, VA 23927.

Location Insight

City

Clarksville

County

Mecklenburg

State

Virginia

Latitude

36.6525

Longitude

-78.577

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