125 Market St Petersburg, VA 23803
Property profile & analytics
125 Market St Petersburg, VA 23803
- Warehouses
- 23,393 SF
- 0.34 lot acres
Property ID
US87-1688719
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Seaboard Millwork & Fine Cabinetry / General Contractor
- Seaboard Express Transportation Services, LLC / Trucking Company
- R J Pomplun Company / Hardware & Home Improvement / General Contractor
Property Details for 125 Market St
- Year built
- 1994
- Lot size
- 0.34 lot acres
- Property size
- 23,393 SF
- Zone code
- B-3
- Property type
- Warehouses
- APN
- 11240001
- APU
- 11240001
Description
This exceptional 27,300 square foot property, located at 125 N Market St and 128 W Tabb St in Petersburg, VA, presents a unique redevelopment opportunity. The vacant, 40-unit apartment building, built in 1846, sits on a 0.435-acre lot and boasts B-3 zoning. The property includes two parcels (APN: 011-240001 & 011-240002) and benefits from an Opportunity Zone designation. Previous architectural plans envision 32 loft-style apartments with ample off-street parking. The existing structure, a former woodworking and furniture facility, offers a flexible, open floor plan and designated office space, suitable for various uses, from light industrial to residential conversion. The property's prime location in Petersburg's historic district, coupled with its size and zoning, makes it an attractive investment. Recent nearby developments, including Market Street Lofts (106 units), Star Lofts (65 units, sold for $7.3M), High Street Lofts (69 units, sold for $9.4M), and the Hotel Petersburg ($13.5M development underway), demonstrate the area's strong potential for growth and high demand for residential and commercial spaces. The property has received DHR Part II approval, further streamlining the redevelopment process. This is a chance to revitalize a piece of Petersburg's history while capitalizing on a thriving real estate market.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Petersburg
- County
- Petersburg City
- State
- Virginia
- Longitude
- -77.4069
- Latitude
- 37.2296
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2019
$3,401
$65,300
$330,700
$396,000
-
$65,300
$330,700
$396,000
