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

    30 Franklin St Petersburg, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    5,099± SF office space for lease in historic Petersburg.

    Type:OFFICE
    Property size:
    6,000 SF
    Lot size:
    0.50 Acres
    Added:
    Feb 8, 2023
    Days on Market:
    1167
    Last Refresh:
    Apr 5 at 10:00 pm

    Property Features for 30 Franklin St

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Lot size
    0.50 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 30 Franklin St Contact us

    We can help!

    Listing Contact
    Eric Hammond
    Eric Hammond

    Listing agent Eric Hammond

    Listing office Commonwealth Commercial

    Listing date Feb 8, 2023

    Source Moodyscre

    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 Commonwealth Commercial

    Overview

    Old Towne Petersburg Office Space

    Available for lease is 5,099± square feet of office space situated on the second floor of one of the tallest buildings in Old Towne Petersburg. The location offers high walkability to dining, retail options, and historic landmarks. On-site parking is available, and the building is elevator served.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    30 Franklin Event ... Hotel & Motel Accel Employment Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Petersburg
    County
    Petersburg
    State
    Virginia
    Longitude
    -77.4021
    Latitude
    37.2284

    Nearby Similar for Lease

    • Contact for pricing

      Retail Strip Mall Near Walmart

      Retail space available in Petersburg, near Walmart and I-95.
      3600 S CRATER Road, PETERSBURG, VA 23805
      View Details
    • Contact for pricing

      Flexible Commercial Space Available

      Adaptable space suitable for various business operations.
      142 E Wythe Street, Petersburg, VA 23803
      View Details
    • $22/mo

      Medical Office Space Available

      Single-story office building with medical office space for rent.
      2623 Park Avenue, Petersburg, VA, 23805
      View Details
    • Contact for pricing

      Petersburg Industrial Campus for Lease

      Industrial campus with flexible space, dock-high and grade-level loading.
      2001, 2011 Factory Lane & 300, 310 Industrial Drive, Petersburg, VA, 23803
      View Details
    • Contact for pricing

      Petersburg Industrial Facility For Lease

      17,400 SF industrial facility with office space available for lease.
      2000 Midway Avenue, Petersburg, VA, 23803
      View Details
    • Contact for pricing

      Retail Space with Grocery Store

      Retail spaces available, anchored by Citi Trends.
      2001 S. Crater Road | Petersburg, VA 23805
      View Details
    • $12/mo

      Retail Space in South Crater

      Prime retail space in busy, established Petersburg shopping center.
      3330 S Crater Rd, Petersburg, VA
      View Details
    • $10/mo

      Retail Space in Pinehill Plaza

      Prime retail space in a well-trafficked shopping center.
      3333 S Crater Rd, Petersburg, VA
      View Details
    • Contact for pricing

      Renovated Retail Space For Rent

      Newly renovated retail suites with high walkability and great location.
      416 3rd St, Petersburg, VA
      View Details
    • Contact for pricing

      Retail Space on S Crater

      Retail spaces available, anchored by Citi Trends.
      2001-2043 S Crater Rd, Petersburg, VA
      View Details
    • Contact for pricing

      Retail Space in Historic Petersburg

      Retail space with excellent access and off-street parking.
      1-3 Sycamore St, Petersburg, VA
      View Details
    • Contact for pricing

      Retail Space in Historic Petersburg

      1,500 SF retail space with excellent I-95 access.
      8 N Sycamore St, Petersburg, VA
      View Details

    FAQs

    What type of property is this?
    Office units - 5,099± SF office space for lease in historic Petersburg.
    Where is this office units located?
    The property is located at 30 Franklin St Petersburg, VA.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 5,099± SF of office space available for lease; Located in the heart of Old Towne Petersburg; On‑site parking available
    (804) 346-4966 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Hammond
    Eric Hammond
    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!