2019 Washington St Petersburg, VA 23803
- Retail space
- 2,400 SF
- 0.45 lot acres
Current Use by Public Records
- Skeeter's Restaurant / Chicken Wings Restaurant
- Platinum Cape / Beauty Salon / Barber Shop
Property Details for 2019 Washington St
- Year built
- 1981
- Lot size
- 0.45 lot acres
- Property size
- 2,400 SF
- Zone code
- B-2
- Property type
- Retail space
- APN
- 4060005
- APU
- 4060005
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $230,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $230,000
- 6.5%
- $260,000
- 7%
- $245,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $235,000
- Geo Method
- $245,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $250,000
- Retail
- $280,000
- Mixed-Use
- $260,000
- Hospitality
- $240,000
- Educational
- $235,000
- Residential Income
- $255,000
- Energy
- $250,000
- Income-Based Land
- $240,000
- Food Service
- $240,000
Location Insight
- Map
- Local Demand
- City
- Petersburg
- County
- Petersburg City
- State
- Virginia
- Longitude
- -77.3705
- Latitude
- 37.2396
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
