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Property profile & analytics
FOR SALE
Retail space

2019 E Washington St Petersburg, VA 23803

2,400 SF 0.45 ac lot Built 1981
Individually Owned Absentee Owner Free & Clear
Property ID
US87-1463303
Property summary
AI-generated overview

This exceptional 2,400 square foot commercial building in Petersburg, Virginia, presents a unique investment or owner-user opportunity. Situated on a 0.46-acre lot at 2019 E Washington Street, this standalone structure offers two distinct interior spaces, each with its own potential. The left unit is a fully equipped restaurant space, complete with a functional kitchen and hood system, representing a turnkey solution for food service businesses. This ready-to-use setup minimizes start-up costs and allows for immediate operation. The right unit, previously utilized as a salon, provides adaptable space suitable for a variety of retail or service-oriented businesses. Its flexible layout allows for customization to meet diverse operational needs. The property benefits from its strategic location within a high-growth area of Petersburg, poised to experience significant economic expansion. The anticipated development of a new casino in the vicinity is expected to generate increased foot traffic and economic activity, further enhancing the property's value and potential for long-term growth. Priced at $379,000, this property offers a compelling investment opportunity for both seasoned investors and business owners seeking a strong foothold in a thriving market. The combination of its versatile spaces, prime location, and the potential for increased economic activity makes this a truly exceptional offering.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1981
Total area 2,400 SF
Lot 0.45 ac (19,800 SF)
Zoning code B-2
APN 4060005
UPID US87-1463303
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Skeeter's Restaurant Restaurant
  • Platinum Cape Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
JUNE HEE LEE
JUNE HEE LEE
Zoning & alternative use
B-2 · Petersburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

ng or replacement of trees on the site to the extent that, at 20 years, minimum tree canopies or coverages will be provided as follows: a. Ten percent tree canopy for commercial and industrial zoning districts: RB, B-1, B-2, B-3, MXD-1, MXD-2, MXD-3, M-1, and M-2. b. Ten percent tree canopy for a residential development with 20 or more units per acre . c . F…

Zone name General Commercial District
General category INDUSTRIAL
Zone area 926.97 ac
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