1312 2Nd StRichlands, VA 24641

Property Details for 1312 2Nd St

Year built

1940

Lot size

0.07 AC

Property size (Sq ft)

1,000 SF

Property type

Office buildings

APN

105A511040006A-0007A

APU

105A511040006A0007A

Description

This 1,454 square foot executive office space at 1312 Second Street, Richlands, VA 24641, presents a unique investment opportunity. Located in the heart of Richlands, this property boasts a rich history, having previously served as the Richlands Post Office and later converted into three separate office condominiums – a first for Tazewell County. The building, constructed in 1940 and zoned B2, offers flexible space ideal for a single business or two separate entities. The layout currently includes approximately 770 square feet on the main level and 684 square feet in the basement. Interior walls are easily reconfigurable to suit individual needs. The asking price is $56,400. On-street and off-street parking is available. While other units in the building are available, this listing is exclusively for 1312 Second Street. This property is vacant and ready for immediate occupancy. Buyers are responsible for any necessary renovations to meet their specific business requirements. The property's historical significance and central location in Richlands make it an attractive proposition for entrepreneurs and investors alike.

• CAP approach

  CAP return

  Valuation

  6%

  $109,712

  6.5%

  $101,272

  7%

  $94,039

• Comparable approach

  Method

  Valuation

  Relative Method

  $126,933

  Geo Method

  $169,340

• Alternative Use

  Use

  Valuation

  Residential

  $125,578

  Hospitality

  $115,029

  Educational

  $95,702

  Medical

  $98,994

  Retail

  $148,870

Location Insight

City

Richlands

County

Tazewell

State

Virginia

Latitude

37.0935

Longitude

-81.7965

CBSA code

14140

CBSA name

BLUEFIELD, WV-VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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