2016 Washington StPetersburg, VA 23803

Property Details for 2016 Washington St

Year built

1972

Lot size

0.08 AC

Property size (Sq ft)

1,500 SF

Zone code

B-2

Property type

Retail properties

Property subtype

Retail space

APN

4210003

APU

4210003

Description

This versatile 1,500 square foot commercial condo, located at 2016 E Washington Street in Petersburg, Virginia, presents a unique opportunity for entrepreneurs and investors. Situated in a well-established three-unit building, this middle unit boasts a freshly remodeled interior, offering a blank canvas for customization. The property sits on a 0.08-acre lot and is priced at $180,000. Recent upgrades include a brand-new roof and new exterior siding on both the front and back of the building. The interior has been finished to a dark shell condition, providing a clean and open space ideal for a variety of commercial uses. This allows for complete flexibility in design and build-out to perfectly suit the needs of the new owner. Whether you envision a modern office space, a vibrant retail shop, or a unique workspace, this property offers endless potential. Its central Petersburg location ensures high visibility and accessibility, making it an attractive option for businesses seeking a thriving commercial environment. The property's size and condition make it an excellent investment opportunity with significant upside potential. Don't miss this chance to acquire a move-in ready commercial space in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $409,102

  6.5%

  $377,633

  7%

  $350,659

• Comparable approach

  Method

  Valuation

  Relative Method

  $424,233

  Geo Method

  $631,298

• Alternative Use

  Use

  Valuation

  Residential

  $318,547

  Hospitality

  $291,788

  Educational

  $242,764

  Medical

  $251,113

  Retail

  $377,633

Location Insight

City

Petersburg

County

Petersburg City

State

Virginia

Latitude

37.2388

Longitude

-77.3703

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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