For Sale
$350,000

401 Halifax StEmporia, VA 23847

Historic 3-Story Retail Building, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a beautifully preserved, historic three-story retail building located at 401 Halifax St, Emporia, VA 23847. The 10,150 square foot property, built in 1907, boasts a 9.00% cap rate and is currently 60% occupied by five tenants under net lease agreements. The building, situated on a 0.3-acre lot within the Belfield Historic District and Downtown District zoning, also benefits from Enterprise Zone designation, offering potential tax incentives. The property features stunning original woodwork on the first floor, early 20th-century partial tile flooring, and a secure vault. The building comprises three structures with three stories and 24 rooms and 5 bathrooms. The first floor is currently occupied by the owner's businesses (not included in the sale), while the second floor houses office tenants. The third floor offers significant potential for future development or expansion. Conveniently located 1.6 miles from I-95 and one block from Business Hwy 58, this property offers a unique blend of historic charm and modern investment potential. The sale includes existing rental contracts for second-floor offices and a beauty parlor

Highlights

  • Historic three-story retail building at 401 Halifax St, Emporia, VA.
  • 10,150 square feet on a 0.3-acre lot, 9% cap rate.
  • Currently 60% occupied by five tenants under net leases; Enterprise Zone designation.
  • Features original woodwork, tile flooring, and a secure vault; three structures with 24 rooms and 5 bathrooms.
  • Located 1.6 miles from I-95 and one block from Hwy 58; Belfield Historic District and Downtown District zoning.

Property Details for 401 Halifax St

Property type
Retail properties, Retail space
Square Feet
10,150 SF
Class
B
Year Built
1907
Buildings
3
Stories
3
Lot Size (sq. ft)
13,068 SF

Location Insight

City
Emporia
County
Emporia City
State
Virginia
Latitude
36.6932711
Longitude
-77.5366389
401 Halifax St, Emporia, Virginia

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401 Halifax St
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