130 Commerce St Suffolk, VA 23434-4502

Property Details for 130 Commerce St

Year built

1964

Lot size

0.18 lot acres

Property size

4,368 SF

Zone code

CENTRAL BUSINESS

Property type

Commercial real estate

APN

34G18(A)*246

APU

34G18A246

Description

This exceptional commercial property at 130 Commerce Street in Suffolk, Virginia presents a unique investment opportunity. The 4,300 square foot building, situated on a 0.18-acre lot, is ideally located in the heart of downtown Suffolk, adjacent to a large, free city parking lot, ensuring convenient customer access. The building boasts a brand-new membrane roof, significantly reducing maintenance costs and enhancing its longevity. A substantial outdoor patio area provides ample space for al fresco dining or additional seating. Currently operating as a successful restaurant with an established customer base, the property includes a fully equipped commercial kitchen featuring a four-year-old hood system, ready for immediate operation. The existing restaurant's loyal following provides a strong foundation for continued success. Furthermore, this property offers significant potential for financial incentives. The building may qualify for up to $10,000 through Suffolk's Facade Improvement Program and an additional $10,000 grant through Suffolk's Small Business Improvement Grant program, potentially offsetting renovation or improvement costs. This turnkey operation presents a compelling opportunity for both established restaurateurs and savvy investors seeking a high-return property in a thriving downtown location. The asking price for this exceptional property is $450,000.