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
Overview
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:
Listing Details MLS# 915646
Location, Tax & Legal
- Area
- 2700 - Alleghany County
- Street Number
- 203
- Street Name
- Interstate
- Street Suffix
- DR
- State/Province
- VA
- Zip Code
- 24426
- Municipality
- Alleghany County
- Major Area
- 27 - Alleghany County
- Tax ID
- 57-65, 57-65B, 57-65C
- Annual Taxes
- 16879.99
- Zoning Code
- B-1
General Property Description
- Construction Status
- Completed
- Year Built
- 1984
- Total Acreage
- 8.65
- Flood Area
- No
- Gross Lot SqFt
- 340000
- On site Parking
- Yes
- Gross Building SqFt
- 64580
- Lease Available
- No
- Basement Y/N
- No
- Water Class
- N/A
Status Change Info
- Ratified Contract Dt
- 2025-05-29
- Sold Date
- 2025-07-07
Business Type
- Type of Business (Historical Field)
- Assisted Living/Memory Care
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.
More Information
Limited Service
- Not Limited Service
- Yes
Construction
- Brick
- Yes
Commercial Type
- Investment
- Yes
- Office
- Yes
Views
- Mountain(s)
- Yes
Sale Includes
- Building & Land
- Yes
Heating
- Heat Pump
- Yes
Cooling
- Heat Pump
- Yes
Water Description
- Public
- Yes
Documents Available
- Survey
- Yes
- Topo/Aerial Map
- Yes
Sewer Description
- Public Sewer
- Yes
Manufactured Homes
- No HUD Tag
- Yes
Water Heater Type
- Tank
- Yes
Floors
- Carpet
- Yes
- Laminate
- Yes
Additional Features
- Other - See Remarks
- Yes
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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