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113 W Bank St 43,000 SF Industrial Building Petersburg, VA 23803 $2,200,000 ($51.16/SF)
Investment Highlights
- Strategically located in the middle of the Tri-Cities area of Petersburg, Hopewell, and Colonial Heights
- Potential future enterprise zone
- Rare opportunity for a large-scale multifamily redevelopment project
- Walkable to restaurants and businesses
- Excellent opportunity to blend historic and affordable housing tax credits
Executive Summary
MULTI-FAMILY DEVELOPMENT OPPORTUNITY WITH POSSIBLE HISTORIC TAX CREDITS - PETERSBURG'S DOWNTOWN HISTORIC DISTRICT
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement. Petersburg has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Petersburg boasts many classical buildings in its historical district. Petersburg is home to a future LIVE Casino and Resort currently under construction and less than a 40-minute drive to the City of Richmond.
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement. Petersburg has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Petersburg boasts many classical buildings in its historical district. Petersburg is home to a future LIVE Casino and Resort currently under construction and less than a 40-minute drive to the City of Richmond.
Property Facts
| Price | $2,200,000 | Lot Size | 0.45 AC |
| Price Per SF | $51.16 | Rentable Building Area | 43,000 SF |
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Redevelopment Project | Year Built | 1918 |
| Property Type | Industrial | No. Drive In / Grade-Level Doors | 2 |
| Property Subtype | Warehouse | Cross Streets | Market st |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | PUD - Planned Urban Development | ||
| Price | $2,200,000 |
| Price Per SF | $51.16 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.45 AC |
| Rentable Building Area | 43,000 SF |
| No. Stories | 2 |
| Year Built | 1918 |
| No. Drive In / Grade-Level Doors | 2 |
| Cross Streets | Market st |
| Opportunity Zone |
Yes |
| Zoning | PUD - Planned Urban Development |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 011-13-0038 | Improvements Assessment | $588,200 |
| Land Assessment | $56,800 | Total Assessment | $645,000 |
Property Taxes
Parcel Number
011-13-0038
Land Assessment
$56,800
Improvements Assessment
$588,200
Total Assessment
$645,000
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113 W Bank St
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