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300 Washington St Suffolk, VA 23434

Sponsored
For Sale
$395,000

High-yield commercial & residential property

Description

Added:
Feb 3, 2025
Days on Market:
357
This exceptional mixed-use property, located at 300 W Washington Street in Suffolk, VA, presents a compelling investment opportunity. Situated on a 0.1-acre lot in the heart of Suffolk's revitalization area, this building offers approximately 5200 square feet of space (per seller). The ground floor boasts approximately 1800 square feet of commercial space currently leased to an eatery and retail tenant, providing immediate rental income. Upstairs, two completely renovated apartments generate additional revenue streams. One apartment features two bedrooms and one bathroom, while the other offers three bedrooms and one bathroom. Both apartments include updated electrical systems, plumbing, HVAC systems, and in-unit washer/dryer hookups. The building has been significantly improved with a new commercial composite roof. A large, open area on the upper floor adds to the building's unique character and overall square footage. The apartments are currently leased, ensuring a consistent income stream for the investor. The property's prime location directly across from the planned new library and downtown park/venue site positions it for significant future appreciation. This is a rare chance to acquire a high-yield property in a rapidly developing area of Suffolk. The combination of commercial and residential income streams makes this an attractive investment for those seeking strong returns and long-term growth potential. The property is priced at $395,000.

Property Features for 300 Washington St

General Information

Property type
Other commercial real estate
Lot Size
4,356 SF

Building Details

Year Built
1900

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Listing Contact
Melinda Marven

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Current Use by Public Records

The Ward Legacy Fast Food Restaurant Middle Mart Grocery ... Grocery Store

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Suffolk
County
SUFFOLK
State
Virginia
Longitude
-76.58621
Latitude
36.7296

FAQs

What type of property is this?
Commercial real estate - High-yield commercial & residential property
Where is this commercial real estate located?
The property is located at 300 Washington St Suffolk, VA.
What is the asking price?
The asking price for this property is $395,000.
More about this property
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