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    158 Washington St Suffolk, VA 23434

    For Lease
    $11 SF/Yr ($5,292 /Mo)

    Historic building, prime location, immediate occupancy.

    Lot size:
    5,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 2,932 square foot creative office space is located at 158-160 W. Washington Street in the heart of Suffolk, Virginia's Central Business District (CBD). The property, a two-story building constructed in 1915, sits on a 0.08-acre lot and offers a unique blend of professional office space and income-generating residential units. The first floor comprises a single-tenant, move-in ready office suite previously occupied by a law firm. This space boasts multiple private offices, a dedicated conference room, a convenient kitchenette, and ample restroom facilities. The second floor features two leased apartment units, providing a passive income stream for the owner. The entire building totals 5,640 square feet. The zoning designation is CBD, reflecting its prime location within the city's commercial core. This presents a rare opportunity for an owner-user to acquire a well-maintained, historic building with immediate occupancy in a thriving downtown area. The property's combination of office and residential space offers significant potential for both immediate use and long-term investment.

    Property Features for 158 Washington St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,640 SF
    Total Rate
    5292.2

    Building Details

    Year Built
    1915
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    2,932 SF
    Rate per SF
    $11

    HighLights

    • 2,932 SF of office space available for immediate lease.
    • Ideal for owner‑occupants, including professionals like attorneys, accountants, and financial advisors.
    • Income‑producing second‑floor apartments (3 bed/1 bath & 4 bed/2 bath) are fully leased.
    • Centrally located in historic downtown Suffolk.
    • Free municipal parking is readily available nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.58456029078
    Latitude
    36.728743250315

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    FAQs

    What type of property is this?
    Office space - Historic building, prime location, immediate occupancy.
    Where is this office space located?
    The property is located at 158 Washington St Suffolk, VA.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: 2,932 SF of office space available for immediate lease.; Ideal for owner-occupants, including professionals like attorneys, accountants, and financial advisors.; Income-producing second-floor apartments (3 bed/1 bath & 4 bed/2 bath) are fully leased.
    Request Owner's contact information
    158 Washington St Suffolk, VA 23434
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    Suffolk, VA 23434
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    Realmo Value Estimation

    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.

    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.

    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
    158 Washington St Suffolk, VA 23434
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