105 Main StHopewell, VA 23860

Property Details for 105 Main St

Year built

1977

Construction

TYPE NOT SPECIFIED

Lot size

0.37 AC

Property size (Sq ft)

2,000 SF

Zone code

B1

Property type

Banks

APN

080-0055

APU

800055

Description

This exceptional 1,224 square foot commercial building is ideally situated on Main Street in the heart of Downtown Hopewell, Virginia. Boasting a prominent road frontage, this brick structure enjoys a highly visible location adjacent to the Courthouse and a short distance from the Municipal Building and the historic Beacon Theatre. Previously utilized as a credit union and more recently as business office/meeting space, the property offers versatile potential for a variety of uses. The building features a charming courtyard, three drive-through lanes with a canopy, and eight reserved parking spaces, supplemented by additional public parking nearby. The interior showcases exposed brick walls, two private offices, a lobby area with desks, an open conference area with a table, and a flexible open space. Two bathrooms, an employee break room/kitchen equipped with a refrigerator, table, dishwasher, and microwave, and a coat closet provide ample amenities. Included in the sale are existing signage, furniture, mini-split HVAC units, a refrigerator, and a microwave. The property sits on a 0.37-acre lot and is zoned B-1 (details available in supplemental documents). Priced competitively below its assessed value of $448,900, this presents a significant opportunity for investors and businesses alike. Further information regarding the Hopewell Enterprise Zone and Virginia State Opportunity Zone is available in supplemental documents. This property is well-suited for a small business, real estate office, attorney's office, retail space, coffee shop, bakery, or non-profit organization.

• CAP approach

  CAP return

  Valuation

  6%

  $545,470

  6.5%

  $503,510

  7%

  $467,545

• Comparable approach

  Method

  Valuation

  Relative Method

  $565,644

  Geo Method

  $841,730

• Alternative Use

  Use

  Valuation

  Residential

  $424,730

  Hospitality

  $389,050

  Educational

  $323,685

  Medical

  $334,817

  Retail

  $503,510

Location Insight

City

Hopewell

County

Hopewell City

State

Virginia

Latitude

37.3027

Longitude

-77.2869

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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