18 S Adams St - Freestanding FOR SALE


Petersburg, VA 23803
$595,000 USD
804-869-3059
18 S Adams St, Petersburg, VA for Sale
$595,000 USD
Freestanding - FOR SALE
1/21
null | Request Cap Rate

18 S Adams St
Petersburg, VA 23803


HIGHLIGHTS

  • Stabilized and profitable business sold with property | Fashion Care Cleaners | All business assets, including FF&E, transfer with sale
  • No other dry cleaners within 1 mile radius | Opportunity to increase revenue through marketing opportunities and increasing operational efficiency
  • Value-add rental income potential with vacant/shell second floor | B3 zoning allows residential use
  • Heart of Petersburg | Close to major developments, Old Towne Petersburg, and the future Live! Casino and Hotel
  • Walking distance to major retail, residential areas, and public transit | Proximity to major interstates I95 and 295
  • 4,284 sqft | 7 parking spaces | 0.11 acres | Enterprise & Opportunity Zones

OVERVIEW

Located at 18 S. Adams St, this 4,284 sq ft, two-story property offers an unparalleled investment opportunity in a rapidly developing area. Situated just one mile from the forthcoming Sycamore Grove development—a dynamic project featuring 76,490 sq ft of retail space, 388 retail parking spaces, 145 residential units with up to 290,000 sq ft of living space, and 239 residential parking spaces—this property is perfectly positioned for future growth. Within half a mile, you'll find Historic Old Towne Petersburg and the soon-to-be-redeveloped Ramada Inn site, with the future Live! Casino and Hotel just five miles away. The property, set on 0.11 acres, is being sold with Fashion Care Cleaners, a well-established dry cleaning business generating $125,000 annually. All business assets, including furniture, fixtures, and equipment (FF&E), are included in the sale. Featuring a newer roof and a highly walkable location near Dollar General, bus stops, Petersburg Area Transit, and the Petersburg Public Library Conference & Event Center, this property offers excellent visibility and accessibility. Flexible B3 zoning allows mixed-use by right, creating sensational value-add with a currently unused second floor. Just minutes from I-95 and I-295, this is an exceptional chance to own a prime commercial property and a thriving business in a community on the rise.

FOR SALE DETAILS

PRICE

$595,000 USD

PRICE/SF

$139 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Business + Property | Fashion Care Cleaners

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

CROSS STREETS

Crimson Ln

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

B-3

APN/PARCEL ID

022-080005

ASK ABOUT THIS PROPERTY

David GauldenThe Gaulden GroupMore Info
804-869-3059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

David GauldenThe Gaulden GroupMore Info
804-869-3059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.