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Bank Branch Downtown 101 E City Point Rd 3,846 SF Retail Building Hopewell, VA 23860 $520,000 ($135.21/SF)
INVESTMENT HIGHLIGHTS
- The property is located in both the Enterprise and Opportunity Zones.
- Numerous destination eateries are located nearby including Waves Sandwich Company and Brew and Saucys BBQ.
- Historic Beacon Theatre, City Hall, and the General District Court House are within easy walking distance.
- The 2024 population is 5,218 and household income of $54,479 within a 1 mile radius.
EXECUTIVE SUMMARY
The City of Hopewell is excited to present this retail with drive through investment opportunity located in historic Downtown Hopewell for sale/lease. The property is .53 acres on the corner of Main Street and City Point Road. This former BOA bank branch building was constructed in the late 1970s. The property is positioned on the City of Hopewell General District Courthouse triangle block in the heart of downtown. Located in both the Enterprise and Opportunity Zone this property provides a unique opportunity for redevelopment at the lowest net cost. Property is being marketed for sale or lease.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,846 SF
Building Class
C
Year Built
1977
Price
$520,000
Price Per SF
$135.21
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.55 AC
Opportunity Zone
Yes
Zoning
B1 - The Central Business District is intended to provide an urban mix of retail, office, service, hotel, residential,
and civic functions for the City.
Parking
12 Spaces (3.12 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Banking
- Corner Lot
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Fiber Optic Internet
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 1st Floor
- 3,846 SF
- Office/Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 3,846 SF | Office/Retail | - | Now |
1st Floor
| Size |
| 3,846 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
6,050
25,848
48,663
88,618
2029 Population
6,047
25,918
49,701
93,277
2024-2029 Projected Population Growth
-0.1%
0.3%
2.1%
5.3%
Median Age
36.8
39.1
39.7
36.8
College Degree + Higher
11%
14%
21%
18%
Daytime Employees
4,339
7,989
18,685
36,980
Total Businesses
498
798
1,414
3,304
Average Household Income
$49,546
$64,392
$80,661
$94,272
Median Household Income
$36,202
$48,773
$62,532
$74,590
Total Consumer Spending
$53.8M
$269.9M
$525.6M
$939.9M
2024 Households
2,556
10,519
17,517
30,266
Average Home Value
$136,027
$174,456
$242,719
$310,173
PROPERTY TAXES
| Parcel Number | 080-0060 | Improvements Assessment | $585,600 |
| Land Assessment | $171,000 | Total Assessment | $756,600 |
PROPERTY TAXES
Parcel Number
080-0060
Land Assessment
$171,000
Improvements Assessment
$585,600
Total Assessment
$756,600
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Bank Branch Downtown | 101 E City Point Rd
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