Mixed-Use Property with
For Sale
$1,450,000
100 N Sycamore Street, Petersburg, VA 23803
Includes leased retail, residential units, and rear office-garage flex space.
Property Size9,860 SF
Price / SF$147.06
Days on Market328
Property Features for 100 N Sycamore Street
General Information
Standard status
Active
Size
9,860 SF
Property subtype
General Commercial
Amenities
Central Air
3
Level
City Road, Level.
Building Details
Year Built
1870
Listing Agency:
One South Commercial LLC
(804) 404-3161
Listed By:
Isaac Weintz · License #0225250413
(804) 404-3161
Source:
Xome
Added: Oct 7, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial LLC
Investment Insights
Based on property information with market context.
Located at 100 N Sycamore Street in Petersburg, Virginia, this 9,860-square-foot mixed-use property combines commercial, residential, and flex components. The ground floor contains leased retail space, while the upper level includes a three-bedroom, three-bathroom penthouse apartment. Three additional units are configured as one-bedroom, one-bathroom short-term rentals.
An office and garage flex area occupies the rear of the property. Built in 1870, the building was redeveloped by the current owner with updated electrical, plumbing, and major building systems. Central air is also in place. The property fronts a city road on a level site and offers a combination of established retail occupancy, residential accommodations, and flexible rear workspace within one asset.
An office and garage flex area occupies the rear of the property. Built in 1870, the building was redeveloped by the current owner with updated electrical, plumbing, and major building systems. Central air is also in place. The property fronts a city road on a level site and offers a combination of established retail occupancy, residential accommodations, and flexible rear workspace within one asset.
Key Highlights
- 9,860‑square‑foot mixed‑use property at 100 N Sycamore Street, Petersburg, VA 23803
- Leased ground‑floor commercial retail space
- Three‑bedroom, three‑bathroom penthouse apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$123,127
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,462,540
$2.5M
Cap Rate 7%
$1,758,957
$1.8M
Cap Rate 9%
$1,368,078
$1.4M
Market Conditions
NOI Build-Up for 9,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$218.9K $22.20/SF
− Vacancy
−$21.9K −$2.22/SF
EGI
$197.0K $19.98/SF
− OpEx
−$73.9K −$7.49/SF
NOI
$123.1K $12.49/SF
Area
Petersburg County, VA
Vacancy
10.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,462,540
Cap Rate 7%
$1,758,957
Cap Rate 9%
$1,368,078
Alternative Uses
Best Use
Mixed Use
$1.76M
$1.54M – $2.05M
NOI $123,127 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$1.74M
$1.53M – $2.04M
NOI $122,150 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,459 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 23803, VA
44,377
Population
19,826
Households
2.2
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
72.2 sq mi
ZIP Area
615
Density / Sq Mi
$55,820
Median Household Income
$35,122
Median Earnings
$1,132
Median Rent
$208,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes leased retail, residential units, and rear office-garage flex space.
Where is this mixed-use property located?
The property is located at 100 N Sycamore Street Petersburg, VA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 9,860‑square‑foot mixed‑use property at 100 N Sycamore Street, Petersburg, VA 23803; Leased ground‑floor commercial retail space; Three‑bedroom, three‑bathroom penthouse apartment
