112 Washington StSuffolk, VA 23434

Property Details for 112 Washington St

Year built

1900

Lot size

0.09 AC

Property size (Sq ft)

23,594 SF

Zone code

CENTRAL BUSINESS

Property type

Commercial real estate

APN

34G18(A)*296*297

APU

34G18A296297

Description

This exceptional 8-story commercial building presents a unique investment opportunity in the heart of Suffolk, Virginia. Situated on a prominent corner lot at the intersection of Main and Washington Streets, this property boasts a prime location within a rapidly developing downtown area. The 0.09-acre lot offers significant potential for future expansion or redevelopment. The building itself presents a substantial footprint, ideal for a variety of commercial uses. Given its location in a revitalizing downtown core, this property is well-positioned to benefit from the city's ongoing investment in infrastructure and community development. Furthermore, the city actively offers tax incentives and grants for property upgrades, providing significant potential for cost savings and increased return on investment. This presents a compelling opportunity for investors seeking a high-impact commercial property with strong potential for appreciation and significant tax advantages. The building's strategic location within a trendy and growing city makes it an attractive proposition for businesses seeking high visibility and access to a vibrant community. This is a rare chance to acquire a substantial commercial building in a prime location with significant upside potential. The substantial size and prime location make this an ideal investment for those seeking a significant tax write-off, coupled with the potential for substantial future returns.

• Alternative Use

  Use

  Valuation

  Residential

  $5,010,539

  Hospitality

  $4,589,627

  Educational

  $3,818,516

  Medical

  $3,949,840

  Retail

  $5,939,913

Location Insight

City

Suffolk

County

Suffolk City

State

Virginia

Latitude

36.7284

Longitude

-76.5834

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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