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Property profile & analytics
OFF-MARKET Estimated value $130,000
Turn key restaurants

218 Old Church St Petersburg, VA 23803-3434

750 SF 0.07 ac lot Built 1994
Individually Owned Absentee Owner Free & Clear
Property ID
US87-1592855
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1994
Total area 750 SF
Lot 0.07 ac (3,100 SF)
Zoning code R-3
APN 12050006
UPID US87-1592855
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$130k
Owner & transaction history
BETTY M NUNNALLY
BETTY M NUNNALLY
Zoning & alternative use
R-3 · Petersburg, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

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…

Zone name Two Family Residence District
General category RESIDENTIAL
Zone area 795.78 ac
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