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2016 E Washington St
Petersburg, VA 23803

$180,000 USD

Storefront Retail Office Condo For Sale  •  1,500 SF

Property Details

  • Property Type Storefront Retail Office
  • Total Building Size 1,500 SF
  • Lot Size 0.82 AC
  • Year Built 1972
  • Tenancy Single
  • Zoning B2
0 Transit Score
32 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 216 Office/Retail 1,500 SF $180,000 USD
  • Unit Size: 1,500 SF
  • Condo Use: Office/Retail
  • Price: $180,000 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $120.00 USD
Description
Versatile 1,500 SF Commercial Condo for Sale – Ready for Custom Build-Out

Located in the heart of Petersburg, VA, Unit 2016 offers 1,500 square feet of prime commercial space in a well-established three-unit property. This middle unit is a blank slate, ready for its new owner to build out and customize to suit their specific needs.

Recently upgraded, the unit features a brand-new roof and new exterior siding on both the front and back of the building. The interior has been remodeled to a dark shell, providing a clean and open space for any business or investment opportunity. Whether you're looking to design your perfect office, retail shop, or workspace, this unit offers endless potential in a growing area.

Sale Notes
This 1,500 SF commercial condo is perfect for an owner-user or investor. The versatile space is ideal for a range of uses, including a retail store, office, workshop, donation collection center, and much more.

For investors, this property presents a potential 7.98% ROI. Here’s the math: At 180k + 40k to complete the Buildout = 220k, so it is 7.98% ROI....i.e.: 1,500 sf x $15.00 psf = $22,500 x 78% (deducting 22% for expenses) = $17,550 net income after expenses, so: $17,550 divided by $220,000 = 7.98%

This unit is being offered as a dark shell, i.e.: framing, concrete floor, rough electrical and rough plumbing. Excellent opportunity for an investor to complete, or a user wanting a specific floor plan.

Whether you're looking to grow your business or secure a high-performing investment, this property offers excellent potential in a prime location.

Description 

Prime Commercial Condo for Sale in Growing Petersburg, VA

This is an exceptional opportunity to own Unit 2016 in a well-maintained, three-unit commercial condo property located at 2014-2018 E. Washington Street, Petersburg, VA. Positioned in a rapidly developing area, this middle unit is flanked by stable occupants—Unit 2014, owned by Holy Ground Ministers, and Unit 2018, currently occupied by Entrust Mechanical Heating and Air.

With a newly proposed casino just 11 miles away, the area is poised for significant growth, making this property an ideal investment. Whether you're looking to expand your business or invest in commercial real estate, this unit offers ample potential in a location on the rise.

Highlights

Versatile 1,500 SF Space
Great for Owner-User or Investor:
Strong Investment Potential with 9.75% ROI
Ready for Custom Build-Out

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
Petersburg Amtrak Station (Carolinian - Amtrak, Northeast Regional - Amtrak, Palmetto - Amtrak, Silver Meteor - Amtrak, Silver Star - Amtrak) 7 min - 4.3 mi
AirportDriveWalkDistance
Richmond International 34 min - 26.2 mi
David Burks 757-585-2959 Coldwell Banker Commercial Brooks Real Estate
David Burks 757-585-2959 Coldwell Banker Commercial Brooks Real Estate