100 Nadia St - 110 Unit MF Development 3.8 Acres of Residential Land Offered at £6,251,402 in Manassas, VA 20111

SRG Commercial is pleased to present an exceptional investment opportunity in downtown Manassas Park City. Ownership recently implemented major revisions to the development program, expanding the project from 110 units to 220 units. The previously planned retail and office components were formally waived by the City, allowing for a fully residential, more economically efficient design. As part of this recent approval, the incoming buyer will be responsible for completing the required site plan amendment to reflect the updated two-building project. This near shovel-ready development offers a prime urban location in a city with an intense demand for housing demonstrated by the higher-than-market comps and the lower-than-market vacancies. The sister building on the adjacent site, The Artena, has an avg asking rent of $2.44/sqft with a less than 5% vacancy. The project encompasses 3.79 acres with the potential for a 220-unit multifamily residential building totaling 245,112 square feet. The two seven-level towers may be constructed using wood or steel framing and include surface-level parking — providing a substantial cost advantage compared to structured or garage parking. The financial incentives for this project are substantial. With no proffers or impact fees, investors benefit from an immediate savings of $3.3 million. Additionally, an estimated $3.2 million in tax saving over ten years is available through a tax abatement plan, including a full tax abatement in Year 1, further enhancing long-term financial performance. The project is strategically located within an Opportunity Zone and a Qualified Census Tract (QCT), unlocking additional tax benefits and investment incentives. With estimated gross rents of approximately $5.6 million annually, this development reflects strong market demand and highly favorable rental fundamentals in the submarket.