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Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Apartment, restaurant building sold on William Street

The William Street Apartments in downtown Fredericksburg

A local real estate investor last month purchased two adjacent properties in downtown Fredericksburg that house a restaurant and 23 apartments.

Mike Adams bought the buildings in the 800 block of William Street that house the Jake & Mike’s restaurant and the William Street Apartments.

Adams bought the properties through Perchwood LLC from Malcolm W. Snellings. The sales price was $2.675 million, according to city records.

The deal did not include the Jake & Mike’s restaurant but rather the building in which it operates. Jake & Mike’s is separately owned and operated. Both the restaurant and apartment operation will remain.