1312 2Nd StRichlands, VA 24641

  • Office properties
  • 1,000 SF
For Sale
$56,400 View listing

Property Details for 1312 2Nd St

Year built
1940
Lot size
0.07 AC
Property size (Sq ft)
1,000 SF
Property type
Office properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
1312 2Nd St, Richlands, Virginia

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

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
$321
$15,500
$39,900
$55,400
-
$15,500
$39,900
$55,400

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