218 Old Church St Petersburg, VA 23803-3434
This exceptional 750-square-foot commercial property, located at 218 N Old Church Street in Petersburg, Virginia, presents a unique investment opportunity. Situated on a 0.07-acre lot, this building boasts a rich history, having served as a long-standing neighborhood establishment for over five decades. Its prominent position within the community underscores its significant potential for future growth and development. The property is being sold "as is," a condition that should be explicitly included in any offer. While inspections are permitted, they are strictly for informational purposes only. All appliances and furniture included in the sale will convey in their current "as is" condition. Please note that the year the building was constructed is not currently verifiable. This presents a chance to acquire a well-established commercial space with considerable upside, ripe for revitalization or continued operation within a thriving community. The asking price is $99,000. Serious inquiries are encouraged to explore this compelling investment prospect. The property's location in Petersburg, VA offers easy access to major transportation routes and a diverse customer base. This is an excellent opportunity for an entrepreneur or investor looking to establish or expand their business in a vibrant and growing area.
A variance from the 35% open space rule to permit the installation of a driveway. - See below 9 OHU OHU X X X X X X XX OHU SCALE: J.N.:SHEET OF DRAWN BY: CHECK BY: August 2, 2021 1 1 JNL 48973-903-S8 1"=20' DFP ZONING: R-3 EXISTING LOT WIDTH: 40.95' REQUIRED LOT WIDTH: 50' EXISTING LOT AREA: 6,359.76 S.F. REQUIRED LOT AREA: 5,000 S.F SETBACKS FRONT: 35' SIDE…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2019Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
R-3 · Petersburg, VAA variance from the 35% open space rule to permit the installation of a driveway. - See below 9 OHU OHU X X X X X X XX OHU SCALE: J.N.:SHEET OF DRAWN BY: CHECK BY: August 2, 2021 1 1 JNL 48973-903-S8 1"=20' DFP ZONING: R-3 EXISTING LOT WIDTH: 40.95' REQUIRED LOT WIDTH: 50' EXISTING LOT AREA: 6,359.76 S.F. REQUIRED LOT AREA: 5,000 S.F SETBACKS FRONT: 35' SIDE: MINIMUM 5' WITH A TOTAL OF 12' REAR: 25' DATE: Based on graphic determination th
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.