Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1134 W Washington St Petersburg, VA 23803

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $125,000

    Quadplex near Virginia State University, ideal for rental income.

    Type:Investment
    Property size:
    3,808 SF
    Added:
    Apr 26, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 26 at 12:30 pm

    Property Features for 1134 W Washington St

    General Information

    Standard status
    Active
    Size
    3,808 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Carly Hancock

    Listing agent Carly Hancock License #0225238313

    Listing office Motley's Realty Services

    Listing date Apr 26, 2026

    Source Elliman

    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 Motley's Realty Services

    Overview

    Petersburg Quadplex Investment Opportunity

    This quadplex in Petersburg, VA, offers a prime investment opportunity. Constructed in 1910, the 3,808± square foot building contains two two-bedroom, one-bath units and two one-bedroom, one-bath units. A large attic provides potential for a fifth unit. The property is located 4 minutes from Virginia State University and 6 minutes from the I-95/I-85 interchange, with Richmond International Airport 30 minutes away. This location provides convenient access for tenants and investors. The property is suitable for rental income, long-term investment, or value-add opportunities, combining historic charm with location advantages in a growing market. The bike score is 44, indicating it is somewhat bikeable, and the walk score is 45, indicating car-dependency.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Petersburg
    County
    Petersburg
    State
    Virginia
    Longitude
    -77.4220159
    Latitude
    37.2226032

    Nearby Similar for Sale

    • $279,950
      3,328 SF

      Historic Duplex in Old Towne

      Duplex in Old Towne Petersburg, perfect for short-term rental.
      235-237 Grove Avenue, Petersburg, VA 23803
      View Details
    • $125,000
      3,808 SF

      Petersburg Quadplex Investment Opportunity

      3,808 SF quadplex near Virginia State University.
      1134 W Washington Street, Petersburg, VA 23803
      View Details
    • $120,000
      1,568 SF

      Petersburg Duplex Investment Opportunity

      Duplex in Petersburg, ready for renovation or redevelopment.
      606-608 Cameron Street, Petersburg, VA 23803
      View Details
    • $260,000
      1,712 SF

      Petersburg Duplex: Investment Opportunity

      Duplex in historic Petersburg with income potential near shopping and casino.
      215 Saint Andrew Street, Petersburg, VA 23803
      View Details
    • $199,000
      2,980 SF

      Petersburg Historic District Brick Duplex

      All brick duplex in Petersburg's Historic District.
      625 W Washington Street, Petersburg, VA 23803
      View Details
    • $389,000
      2,900 SF

      Historic Old Towne Mixed-Use Building

      Circa-1820 brick building in downtown Petersburg with income potential.
      124 W Bank St, Petersburg, VA 23803
      View Details
    • $218,975
      2,232 SF

      Petersburg Super Duplex Best Buy

      Large duplex in Petersburg, ready for minimal work.
      125 Chappell Street, Petersburg, VA 23803
      View Details
    • $149,950
      2,261 SF

      Income-Producing Triplex in Petersburg

      Triplex with separate electric meters, ideal for maximizing rental income.
      2201-2203 Ferndale Avenue, Petersburg, VA 23803
      View Details
    • $1,100,000
      11,000 SF

      Historic Petersburg Apartment Building For Sale

      Five-unit apartment building with historic charm and modern upgrades.
      23 W Old St, Petersburg, VA 23803
      View Details
    • $149,950
      2,200 SF

      Income-Producing Triplex in Petersburg

      Triplex with separate electric meters, ideal for rental income.
      2201-2203 Ferndale Ave, Petersburg, VA 23803
      View Details
    • $1,300,000
      10,578 SF

      Petersburg Retail Center on Crater

      Five-bay retail center with high visibility and growth potential.
      2825 S Crater Rd, Petersburg, VA 23805
      View Details
    • $599,500
      12,000 SF

      Petersburg Warehouse in Old Towne

      12,000 SF warehouse on 1.889 acres in Petersburg.
      232 N Market St, Petersburg, VA
      View Details

    FAQs

    What type of property is this?
    Quadplex - Quadplex near Virginia State University, ideal for rental income.
    Where is this quadplex located?
    The property is located at 1134 W Washington St Petersburg, VA.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Prime investment opportunity in Petersburg, VA.; Quadplex with potential for a fifth unit in the large attic.; Located 4 minutes from Virginia State University.
    (804) 335-9994
    We can help!
    Listing Contact
    Carly Hancock
    Real Estate License ID: 0225238313
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!