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$595,000
Est. payment /mo
4,284 SqFt
UPDATED:
01/20/2025 03:20 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,284 sqft
Price per Sqft $138
MLS Listing ID 2501136
HOA Y/N No
Year Built 1965
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 53' x 96'
Property Description
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.
Location
State VA
County Petersburg
Area 57 - Petersburg
Interior
Heating Hot Water, Other, Zoned
Exterior
Roof Type Flat
Topography Level
Total Parking Spaces 7
Building
Lot Description Level
Building Description Brick,Block, No Elevators,Single-Tenant
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick,Block
Others
Tax ID 022-080005
Ownership Investment,Owner-User
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Listed by Real Broker LLC