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2237 E Washington Street, Petersburg, VA 23803

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For Sale

$399,000

0.45 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 0.5 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

2237 & 2225 E Washington Street, Petersburg, VA 23803 For Sale - Prime Dual Mixed-Use / Commercial Investment Opportunity. Needs renovations - value-add opportunity for the right investor or owner-operator! Key Features: Total Area: ~11,000+/- sq. ft. Unit Mix: Upper Floor: - 3 * 2-bedroom / 2-bath apartments - 4 * 1-bedroom / 1-bath apartments Main Floor between the two properties: 4 separate commercial suites, ideal for retail, service, office, storage units, warehousing etc. Total of 11 potential doors. At this very attractive price - that's ONLY ~ $36000 per door! Zoning: B-2 General Commercial - versatile uses allowed. Most of the framing for the apartments have been completed, sewer lines have been upgraded to PVC, newer roofs on both buildings, some electrical has been completed, newer windows. Parking lot recently resealed. Location & Growth Dynamics: Prime location along East Washington St, a high-visibility corridor in Petersburg. Close proximity to the upcoming new casino development, which is expected to drive foot traffic, investment, and consumer spending in the area. Several companies and businesses are relocating or expanding into Petersburg, increasing demand for retail, service, housing & mixed-use space. Easy access to I-95 and I-85, Downtown Petersburg, Hopewell, Colonial Heights and Fort Gregg-Adams / Lee, making this site attractive for residents, workers, and commuters. This is also within the Richmond Metro area. Investment & Redevelopment Potential: Four commercial units + 7 residential units = multiple income streams. Ideal uses: full mixed-use operation (apartments above + retail/service below), conversion or redevelopment as zoning allows or convert it all into a multifamily building. Sold as-is, inspections are for informational purposes only. No owner financing. Will not separate Parcels. Verify all information.
MLS# 2526360

Courtesy Of HomeLife Access Realty

(804) 798-7878

Property Features

  • Age
    Over 50 Years Old
  • Exterior Type
    Brick
  • Lot Size
    0.45 Acres

Map and Directions

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.