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& 128 W Tabb Street 125 N Market St

27,393 SF Industrial Building Petersburg, VA 23803 For Sale

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Investment Highlights

Opportunity & Enterprise Zone
27,300 SF
125 North Market Street & 128 West Tabb Street

B-3 Zoning
DHR Part II Approval

Executive Summary

One South Commercial is pleased to bring to market 125 N Market St and 128 W Tabb St, a former woodworking and furniture building facility from the late 1800s. Located in the heart of Petersburg’s historic district, this property is primed for an array of uses ranging from light industrial owner uses to a potential historical tax credit redevelopment. It includes the building and the neighboring lot of 128 W Tabb St, totaling 0.435 acres with an opportunity zone designation. Previous architectural plans, as seen in exhibit A, would allow for 32 loft style apartments with ample off-street parking for residents. The current open floor plan and designated office space allow the building to be a blank slate for any business looking for an operational hub. 125 N Market Street is a fantastic opportunity to breathe new life into a piece of local history.
Recent development highlights within a 1-mile radius of 125 N Market St and 128 W Tabb St:
1. Market Street Lofts - 106 units - Completed in 2022
2. Star Lofts - 65 units - Sold January of 2021- $7.3M
3. High Street Lofts - 69 units - Sold in October of 2021 - $9.4M
4. Hotel Petersburg - $13.5M development project currently underway

Property Facts

Sale Type	Investment	Rentable Building Area	27,393 SF
Sale Conditions	Redevelopment Project	No. Stories	4
Property Type	Industrial	Year Built	1850
Property Subtype	Warehouse	Tenancy	Single
Building Class	C	Cross Streets	Tabb
Lot Size	0.44 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Sale Type	Investment
Sale Conditions	Redevelopment Project
Property Type	Industrial
Property Subtype	Warehouse
Building Class	C
Lot Size	0.44 AC
Rentable Building Area	27,393 SF
No. Stories	4
Year Built	1850
Tenancy	Single
Cross Streets	Tabb
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.