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600 W Wythe St 255,000 SF Industrial Building Petersburg, VA 23803 $5,000,000 ($19.61/SF)
Investment Highlights
- Richmond, VA MSA with immediate access to I-95 and I-85
- Located in Virginia’s gateway region, an east coast hub for advanced pharma manufacturing
- Enterprise Zone location
- Minutes from Fort Lee, which supports approximately 70,000 people off post and has a $2+ billion economic impact regionally
- Walkable to restaurants, breweries, and outdoor entertainment
- Excellent opportunity to blend historic and low income housing tax credits
Executive Summary
PROPERTY INFO
-255,000 sq. ft. surface parked historic warehouse
-Residential PUD (Planned Unit Development) Zoning
-Eligible for state and federal tax credits
-Historic designations in hand
SUBMARKET METRICS
-Multifamily sales in Petersburg have grown 3x over the several years
-Submarket pricing has increased by nearly $50,000 per unit since 2017
-Rent growth and occupancy have tracked those of Richmond proper
-Limited development pipeline supports healthy absorption
-255,000 sq. ft. surface parked historic warehouse
-Residential PUD (Planned Unit Development) Zoning
-Eligible for state and federal tax credits
-Historic designations in hand
SUBMARKET METRICS
-Multifamily sales in Petersburg have grown 3x over the several years
-Submarket pricing has increased by nearly $50,000 per unit since 2017
-Rent growth and occupancy have tracked those of Richmond proper
-Limited development pipeline supports healthy absorption
Data Room Click Here to Access
- Market Information
- Operating and Financials
- Third Party Reports
- Miscellaneous
Property Facts
| Price | $5,000,000 | Lot Size | 5.03 AC |
| Price Per SF | $19.61 | Rentable Building Area | 255,000 SF |
| Sale Type | Investment | No. Stories | 4 |
| Sale Condition | Redevelopment Project | Year Built/Renovated | 1903/2009 |
| Property Type | Industrial | No. Dock-High Doors/Loading | 10 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 1 |
| Building Class | C | ||
| Zoning | Residential PUD - Planned Unit Development | ||
| Price | $5,000,000 |
| Price Per SF | $19.61 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 5.03 AC |
| Rentable Building Area | 255,000 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1903/2009 |
| No. Dock-High Doors/Loading | 10 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Residential PUD - Planned Unit Development |
Amenities
- Bus Line
- Fenced Lot
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,809,600 | |
| Land Assessment | $244,400 | Total Assessment | $3,054,000 |
Property Taxes
Parcel Numbers
Land Assessment
$244,400
Improvements Assessment
$2,809,600
Total Assessment
$3,054,000
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600 W Wythe St
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