Petersburg, VA
Commercial Real Estate Market Trends & Data

$148 Avg asking sale price
$3,645 Avg asking lease rate
41,147 SF Avg unit lease size
24,783 SF Avg building size for sale
7.89% Average cap rate

Petersburg's Demographic Profile

Petersburg has 15,263 households and a median income of $44,703, providing context for rent absorption and tenant demand across retail and multifamily assets. A -1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 33,203
# Households 15,263
Median age 40
Median household income $44,703
Avg household size 2.0
Renter-occupied housing units 9,849
5-year population change -1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Petersburg, VA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Petersburg $217 5,805 SF 9.43%
Colonial Heights $127 5,438 SF 9.43%
Nearby Retail Markets Avg Cost/SF Typical Size
Petersburg $143 12,251 SF
North Dinwiddie $197 6,338 SF
Sutherland $168 10,640 SF
Fort Lee $133 22,530 SF
Colonial Heights $131 18,239 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Petersburg $136 13,761 SF 8.00%
Ettrick $136 26,681 SF 8.00%
Colonial Heights $126 15,773 SF 8.00%
Chester $256 2,500 SF 5.61%

Commercial Properties For Sale in Petersburg

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

55, 60, 70, 80,90 & 94 Medical Park Boulevard

Petersburg, VA 23805

  • 4.39 AC Lot
  • 1 Commercial Lot
  • $1,500,000
For Sale

Parcel A

Petersburg, VA 23805

  • 13.23 AC Lot
  • 1 Commercial Lot
  • $2,200,000
For Sale

Restaurant & Building for sale.

Petersburg, VA 23803

  • 3,897 SF Retail Building
  • $698,850
For Sale

Cameron Street Portfolio- 24 Beds

Petersburg, VA

  • Health Care Building
  • $1,340,000
For Sale

8% Cap- 7 Single Family Rental Portfolio

  • 8.00% Cap Rate
  • $1,150,000
For Sale

Long Lofts

Petersburg, VA 23803

  • 67,882 SF Multifamily
  • $6,385,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Petersburg pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Petersburg $148 24,783 SF
North Dinwiddie $188 6,465 SF
Ettrick $132 21,111 SF
Sutherland $168 10,640 SF

Regional Demographic Comparison

This comparison places Petersburg alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Petersburg or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Petersburg 33,203 15,263 40 $44,703 2 9,849 -1%
North Dinwiddie 19,566 7,371 41 $63,716 3 1,832 4%
Ettrick 7,543 1,755 27 $57,512 3 731 6%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Petersburg, VA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Petersburg

View All Commercial Real Estate For Sale in Petersburg
Is Petersburg a good market for a first-time commercial real estate investor?

Petersburg offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Petersburg?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Petersburg. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Petersburg?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Petersburg. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Petersburg compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Petersburg. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Petersburg acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Petersburg, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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