18 Adams St Petersburg, VA 23803-4525
- Retail space
- 2,142 SF
- 0.12 lot acres
Current Use by Public Records
- Fashion Care Cleaners / Dry Cleaner
Property Details for 18 Adams St
- Year built
- 1965
- Lot size
- 0.12 lot acres
- Property size
- 2,142 SF
- Zone code
- B-3
- Property type
- Retail space
- APN
- 22080005
- APU
- 22080005
Description
This exceptional 4,284 sq ft, two-story commercial property at 18 S Adams Street, Petersburg, VA, presents a unique investment opportunity. The property sits on 0.11 acres and includes a well-established dry cleaning business generating $125,000 in annual revenue. All business assets, including furniture, fixtures, and equipment (FF&E), are included in the sale price of $595,000. Benefiting from a newer roof and a highly walkable location near amenities such as Dollar General, public transportation, and the Petersburg Public Library Conference & Event Center, this property offers excellent visibility and accessibility. Its strategic location, just one mile from the upcoming Sycamore Grove development (comprising 76,490 sq ft of retail space, 388 retail parking spaces, 145 residential units with up to 290,000 sq ft of living space, and 239 residential parking spaces), and within half a mile of Historic Old Towne Petersburg and a soon-to-be-redeveloped Ramada Inn site, positions it perfectly for future growth. The property's flexible B3 zoning allows for mixed-use development, offering significant value-add potential with its currently unused second floor. Convenient access to I-95 and I-295 further enhances its appeal. This is a rare chance to acquire a thriving business and a prime commercial property in a rapidly developing community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Petersburg
- County
- Petersburg City
- State
- Virginia
- Longitude
- -77.4018
- Latitude
- 37.2274
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
