Petersburg, VA 23803 112 N Sycamore Street
$395,000
Sold: Nov 24, 2021
5 more
Presented By: Thomas Rosman with One South Realty Group, LLC.
Home Details
For sale is 112-114 N Sycamore St in Downtown Petersburg. This listing consists of a four-story commercial building on Petersburg’s most prominent street. Sycamore St is famous for its art galleries, eclectic shops, restaurants, historic buildings, and apartments. Located right in all of this activity, this listing is within walking distance to Old Towne Petersburg and the Appomattox waterfront to the north.
The building was constructed in 1910 with a gross leasable area of 34,992 SF. A large retail storefront occupies the ground level and was the former location of the Cosmos clothing store. The upper floors are currently vacant and present an excellent opportunity for redevelopment into apartments to meet the rising demand of multifamily housing in Petersburg. Redevelopment of this building may also qualify for State and Federal Historic Tax Credits.
Growth at Virginia State University, Fort Lee, and other nearby major employers such as Amazon have greatly increased the demand for Downtown apartments. With the high demand, this listing offers a perfect opportunity for a low-cost acquisition with significant investment return potential.
Presented By: Thomas Rosman with One South Realty Group, LLC.
General for 112 N Sycamore Street
Additional Parcels Y/NNo
Association Y/NNo
Attached Garage No
Buyer FinancingPrivate
Carport Y/NNo
Close Price395000.0
Construction MaterialsBrick
CountyPetersburg
Days on Market139
Garage Y/NNo
HeatingElectric
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
MLS Area57 - Petersburg
MobileHomeRemainsYNNo
New ConstructionNo
PossessionCloseOfEscrow
Property Attached Y/NNo
Property ConditionAverageCondition
Property TypeCommercialSale
Rent Control Y/NNo
RoofOther
Senior Community Y/NNo
SewerSanitary
Standard StatusClosed
StatusClosed
Stories4
Street NameSycamore
Tax Assessed Value0
TopographyLevel
Total Rooms6
View Y/NNo
Waterfront Y/NNo
Year Built1910
Interior for 112 N Sycamore Street
Air Conditioning Y/NNo
Basement (Y/N)No
BuyerOfficeEmailjohn.vandersyde@longandfoster.com
Electric On Property Y/NNo
Fireplace Y/NNo
Full Baths0
Half Baths0
Heating Y/NYes
Street SuffixStreet
Total Baths0
Total Stories4
Exterior for 112 N Sycamore Street
Building Area Total34992.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLevel
Lot Size Acres0.21
Lot Size Area0.21
Lot Size UnitsAcres
Open Parking Y/NNo
Road ResponsibilityPublicMaintainedRoad
SpaNo
Water SourcePublic
Philip Innes
Associate