2019 Washington StPetersburg, VA 23803-3721

  • Retail properties
  • 2,400 SF
For Sale
$379,000 View listing

Property Details for 2019 Washington St

Year built
1981
Lot size
0.45 AC
Property size (Sq ft)
2,400 SF
Zone code
B-2
Property type
Retail properties
Property subtype
Retail space
APN
4060005
APU
4060005

Description

This exceptional 2,400 square foot commercial building in Petersburg, Virginia, presents a unique investment or owner-user opportunity. Situated on a 0.46-acre lot at 2019 E Washington Street, this standalone structure offers two distinct interior spaces, each with its own potential. The left unit is a fully equipped restaurant space, complete with a functional kitchen and hood system, representing a turnkey solution for food service businesses. This ready-to-use setup minimizes start-up costs and allows for immediate operation. The right unit, previously utilized as a salon, provides adaptable space suitable for a variety of retail or service-oriented businesses. Its flexible layout allows for customization to meet diverse operational needs. The property benefits from its strategic location within a high-growth area of Petersburg, poised to experience significant economic expansion. The anticipated development of a new casino in the vicinity is expected to generate increased foot traffic and economic activity, further enhancing the property's value and potential for long-term growth. Priced at $379,000, this property offers a compelling investment opportunity for both seasoned investors and business owners seeking a strong foothold in a thriving market. The combination of its versatile spaces, prime location, and the potential for increased economic activity makes this a truly exceptional offering.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $654,564
    6.5%
    $604,213
    7%
    $561,055
  • Comparable approach

    Method
    Valuation
    Relative Method
    $678,773
    Geo Method
    $1,010,076
  • Alternative Use

    Use
    Valuation
    Residential
    $509,676
    Hospitality
    $466,860
    Educational
    $388,422
    Medical
    $401,781
    Retail
    $604,213
2019 Washington St, Petersburg, Virginia

Location Insight

City
Petersburg
County
Petersburg City
State
Virginia
Latitude
37.2396
Longitude
-77.3705
CBSA code
40060
CBSA name
RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2019
$2,615
$85,900
$107,800
$193,700
-
$85,900
$107,800
$193,700

FAQs

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