Rosser Avenue

About Rosser Avenue

Cushman & Wakefield’s Mid Atlantic Multifamily Group is pleased to offer Rosser Avenue, a best-in-class 90-unit, single-family build-to-rent townhome community located in Waynesboro, Virginia. The property will be offered as a forward takeout, with construction starting in July 2025, first CO expected in October 2025, and final CO expected in August 2026. Rosser Avenue is a one of-a-kind asset, as it will be the only single-family, build-to-rent community in the immediate area with limited market rate rental competition, which will keep demand consistently strong. The single-family style townhomes offer unique features that you would not find in an apartment building, and the unit finishes exceed that of comparable for-sale homes. The property has easy access to over 2.63M SF of retail amenities and is close to I-64 and I-81, providing convenient access to Charlottesville, Staunton, and other areas of Central and Southwest Virginia. Additionally, Richmond and popular recreational destinations throughout the Blue Ridge Mountains are all within an easy drive. The demographics surrounding Rosser Avenue are exceptional, with main indicators exceeding that of the broader MSA including population growth, percentage of renters, median household income, and white-collar employment. Furthermore, the Waynesboro area’s rent has increased by 6.51% year over year as of Q4 of 2024 and is projected to increase by an average of 5.10% over the next five years, creating the runway for additional rent growth at Rosser Avenue. The property is also being offered at a desirable discount to for-sale housing, with comparable median home listing values reaching $479,000, which will create outsized demand for rental product. The scarcity of build-to-rent and single-family townhome rental communities in the Mid-Atlantic, combined with the impressive local market fundamentals and demographics, present investors with a unique opportunity to acquire a brand new, well-performing asset in the high growth Waynesboro market.