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2016 E Washington St
1,500 SF Office/Retail Condo Unit Offered at $180,000 in Petersburg, VA 23803
Investment Highlights
- Versatile 1,500 SF Space
- Strong Investment Potential with 9.75% ROI
- Great for Owner-User or Investor:
- Ready for Custom Build-Out
Executive Summary
Prime Commercial Condo for Sale in Growing Petersburg, VA This is an exceptional opportunity to own Unit 2016 in a well-maintained, three-unit commercial condo property located at 2014-2018 E. Washington Street, Petersburg, VA. Positioned in a rapidly developing area, this middle unit is flanked by stable occupants—Unit 2014, owned by Holy Ground Ministers, and Unit 2018, currently occupied by Entrust Mechanical Heating and Air. With a newly proposed casino just 11 miles away, the area is poised for significant growth, making this property an ideal investment. Whether you're looking to expand your business or invest in commercial real estate, this unit offers ample potential in a location on the rise.
Property Facts
1 Unit Available
Unit 216
| Unit Size | 1,500 SF | Condo Use | Office/Retail |
| Price | $180,000 | Sale Type | Investment or Owner User |
| Price Per SF | $120.00 | Sale Conditions | Building in Shell Condition |
| Unit Size | 1,500 SF |
| Price | $180,000 |
| Price Per SF | $120.00 |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Sale Conditions | Building in Shell Condition |
Description
Versatile 1,500 SF Commercial Condo for Sale – Ready for Custom Build-Out
Located in the heart of Petersburg, VA, Unit 2016 offers 1,500 square feet of prime commercial space in a well-established three-unit property. This middle unit is a blank slate, ready for its new owner to build out and customize to suit their specific needs.
Recently upgraded, the unit features a brand-new roof and new exterior siding on both the front and back of the building. The interior has been remodeled to a dark shell, providing a clean and open space for any business or investment opportunity. Whether you're looking to design your perfect office, retail shop, or workspace, this unit offers endless potential in a growing area.
Sale Notes
This 1,500 SF commercial condo is perfect for an owner-user or investor. The versatile space is ideal for a range of uses, including a retail store, office, workshop, donation collection center, and much more.
For investors, this property presents a potential 7.98% ROI. Here’s the math: At 180k + 40k to complete the Buildout = 220k, so it is 7.98% ROI....i.e.: 1,500 sf x $15.00 psf = $22,500 x 78% (deducting 22% for expenses) = $17,550 net income after expenses, so: $17,550 divided by $220,000 = 7.98%
This unit is being offered as a dark shell, i.e.: framing, concrete floor, rough electrical and rough plumbing. Excellent opportunity for an investor to complete, or a user wanting a specific floor plan.
Whether you're looking to grow your business or secure a high-performing investment, this property offers excellent potential in a prime location.
2016 E. Washington St
Nearby Major Retailers
zoning
| Zoning Code | B2 (Commercial and Industrial) |
| B2 (Commercial and Industrial) |
Presented by
2016 E Washington St
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