The deal included the paint shop FinishMaster’s building at 3317 W. Broad St. and the Advance Auto Parts building at 3321 W. Broad St., left, and a trio of duplexes behind them at 3334-3344 Cutshaw Ave. (Mike Platania photos)
A longtime West End real estate investment firm has added to its portfolio in the city.
Earlier this month, General Land Co. purchased several parcels totaling about 1 acre at the southeast intersection of West Broad Street and Roseneath Road across from Scott’s Addition for $3.3 million.
The deal included three separate parcels: the Advance Auto Parts building at 3321 W. Broad St.; paint shop FinishMaster’s building at 3317 W. Broad St.; and a trio of duplexes behind them at 3334-3344 Cutshaw Ave.
The assemblage was most recently assessed by the city at a combined $3 million. The acquisition closed Aug. 10, city records show.
Founded in 1960, General Land Co. owns about a dozen properties throughout the region, ranging from pad sites near the airport and in Hanover, to 4118 W. Broad St., where the Virginia ABC is preparing to open a store.
General Land co-founder Mike Carroll said “everything’s on the table” regarding possible future redevelopment of the three sites but right now they don’t have any plans to do so.
“It’s a great location. The uses there are really nice,” Carroll said, adding that the current tenants are staying in place. “It’s a great area and getting better; it’s at the entrance to Scott’s Addition.”
The sale took place off-market, Carroll added.
While this deal recently closed, another property just to the south may soon be hitting the market. The Windsor Senior Living facility at 3600 Grove Ave. is currently closed for renovations, but the facility’s owners said they’re entertaining offers on the roughly 2-acre parcel.
The deal included the paint shop FinishMaster’s building at 3317 W. Broad St. and the Advance Auto Parts building at 3321 W. Broad St., left, and a trio of duplexes behind them at 3334-3344 Cutshaw Ave. (Mike Platania photos)
A longtime West End real estate investment firm has added to its portfolio in the city.
Earlier this month, General Land Co. purchased several parcels totaling about 1 acre at the southeast intersection of West Broad Street and Roseneath Road across from Scott’s Addition for $3.3 million.
The deal included three separate parcels: the Advance Auto Parts building at 3321 W. Broad St.; paint shop FinishMaster’s building at 3317 W. Broad St.; and a trio of duplexes behind them at 3334-3344 Cutshaw Ave.
The assemblage was most recently assessed by the city at a combined $3 million. The acquisition closed Aug. 10, city records show.
Founded in 1960, General Land Co. owns about a dozen properties throughout the region, ranging from pad sites near the airport and in Hanover, to 4118 W. Broad St., where the Virginia ABC is preparing to open a store.
General Land co-founder Mike Carroll said “everything’s on the table” regarding possible future redevelopment of the three sites but right now they don’t have any plans to do so.
“It’s a great location. The uses there are really nice,” Carroll said, adding that the current tenants are staying in place. “It’s a great area and getting better; it’s at the entrance to Scott’s Addition.”
The sale took place off-market, Carroll added.
While this deal recently closed, another property just to the south may soon be hitting the market. The Windsor Senior Living facility at 3600 Grove Ave. is currently closed for renovations, but the facility’s owners said they’re entertaining offers on the roughly 2-acre parcel.