1965 Wakefield Ave Petersburg, VA 23805

This exceptional commercial property, located at 1965 Wakefield Avenue in Petersburg, Virginia, presents a unique investment opportunity. The building, formerly the main office of Virginia Commonwealth Bank and now occupied by Blue Ridge Bank following a merger, boasts a substantial 14,553 square feet of space situated on a 1.03-acre lot. Currently, Blue Ridge Bank occupies the first floor as a branch location and has committed to a leaseback agreement with the new owner, ensuring a consistent income stream. The second floor is currently leased with a three-year lease term in place. The third floor is available for lease, offering significant potential for additional rental income. This presents a compelling opportunity for an investor to acquire a well-located, established commercial property with existing tenants and immediate rental income. The building's prominent location in Petersburg offers excellent visibility and accessibility. The leaseback agreement with Blue Ridge Bank provides a secure investment, minimizing vacancy risk and ensuring a steady return on investment. The potential for increased rental income from the available third-floor space further enhances the property's value and profitability. This is an ideal investment for those seeking a stable, income-generating asset in a growing market. The sale includes the terms of the leaseback agreement with Blue Ridge Bank.