2016 E Washington St - Storefront Retail/Office CONDO FOR SALE


Petersburg, VA 23803
$180,000 USD
757-585-2959
2016 E Washington St, Petersburg, VA for Sale
$180,000 USD
Storefront Retail/Office CONDO - FOR SALE
1/9
null | Request Cap Rate

2016 E Washington St
Petersburg, VA 23803


HIGHLIGHTS

  • Versatile 1,500 SF Space
  • Great for Owner-User or Investor:
  • Strong Investment Potential with 9.75% ROI
  • Ready for Custom Build-Out

OVERVIEW

This 1,500 SF commercial condo is perfect for an owner-user or investor. The versatile space is ideal for a range of uses, including a retail store, office, workshop, donation collection center, and much more. For investors, this property presents a potential 7.98% ROI. Here’s the math: At 180k + 40k to complete the Buildout = 220k, so it is 7.98% ROI....i.e.: 1,500 sf x $15.00 psf = $22,500 x 78% (deducting 22% for expenses) = $17,550 net income after expenses, so: $17,550 divided by $220,000 = 7.98% This unit is being offered as a dark shell, i.e.: framing, concrete floor, rough electrical and rough plumbing. Excellent opportunity for an investor to complete, or a user wanting a specific floor plan. Whether you're looking to grow your business or secure a high-performing investment, this property offers excellent potential in a prime location.

FOR SALE DETAILS

PRICE

$180,000 USD

PRICE/SF

$120 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront, Industrial Live/Work Unit

TOTAL BUILDING SIZE

1,500 SF

STORIES

1

BUILDING CLASS

-

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

B2

APN/PARCEL ID

004-210003

ASK ABOUT THIS PROPERTY

David BurksColdwell Banker Commercial Brooks Real EstateMore Info
757-585-2959

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David BurksColdwell Banker Commercial Brooks Real EstateMore Info
757-585-2959

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