113 Hopewell StHopewell, VA 23860

Property Details for 113 Hopewell St

Year built

1958

Construction

TYPE NOT SPECIFIED

Lot size

0.06 AC

Property size (Sq ft)

1,225 SF

Zone code

B1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

080-0150

APU

800150

Description

Embrace a unique investment opportunity in Hopewell, VA, with this 1,225 sq ft commercial building situated on 113 Hopewell Street. Originally built in 1927, this property offers a captivating blend of history and potential. Currently zoned B1, it's ideally located within both the Hopewell Enterprise Zone and the Virginia Opportunity Zone, presenting significant tax advantages and incentives for the savvy investor. The building features a recently installed new roof, providing a solid foundation for your vision. Its previous life as a beloved local diner lends itself to a variety of uses, from restoring its nostalgic charm as a restaurant or cafГ© to transforming it into a modern office space, boutique retail store, or any other suitable commercial venture. The property's central location ensures high visibility and accessibility, making it an attractive proposition for entrepreneurs and business owners seeking a unique and profitable venture. This is a rare chance to acquire a piece of Hopewell's history and shape its future. Don't miss this exceptional opportunity to capitalize on the benefits of the enterprise and opportunity zones while creating a thriving business in a vibrant community. The possibilities are truly endless.

• CAP approach

  CAP return

  Valuation

  6%

  $334,100

  6.5%

  $308,400

  7%

  $286,372

• Comparable approach

  Method

  Valuation

  Relative Method

  $346,457

  Geo Method

  $515,560

• Alternative Use

  Use

  Valuation

  Residential

  $260,147

  Hospitality

  $238,293

  Educational

  $198,257

  Medical

  $205,076

  Retail

  $308,400

Location Insight

City

Hopewell

County

Hopewell City

State

Virginia

Latitude

37.3043

Longitude

-77.2835

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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