For Sale
Multi-Family Development Opportunity with Possible Historic Tax Credits
113 West Bank Street Petersburg Virginia 23803
Asking$2,200,000
For Sale
113 West Bank Street Petersburg Virginia 23803
Opportunity to rehabilitate a historic building in a walkable downtown district with the ability to take advantage of tax credits, enterprise zone credits and a property tax abatement.
Petersburg has the distinct charm of small-town America. An elegant place full of cultural and historic landmarks, Petersburg boasts many classical buildings in its historical district. Petersburg is home to a future LIVE Casino and Resort currently under construction and less than a 40-minute drive to the City of Richmond.
DOWNTOWN PETERSBURG
Downtown Petersburg has seen explosive growth and development over the last decade. Numerous historic office, retail and warehouse buildings have been converted to residential and commercial uses. The area is thriving with new restaurants, cafés, retail and hospitality establishments.
The new Petersburg Hotel is the jewel in the neighborhood. The developers renovated an old hotel into a gorgeous boutique hotel with a first-class restaurant. The accolades have brought renewed interest and energy into the neighborhood.
113 West Bank St sits in the middle of this resurgence and offers one of the last large-scale development opportunities in the entire Richmond-Petersburg area.
Ken Campbell is a commercial real estate veteran who brought over twenty-five years of transaction experience to his role as a broker at One South Commercial in 2019. Ken is highly experienced in transactions locally and across North America. His expertise spans the commercial real estate spectrum with most of this work occurring in the office and industrial sectors, and he obtained an MBA with a concentration in real estate and urban land development from VCU.
Ken has represented both tenants and landlords across the country since he transitioned from in-house corporate real estate to brokerage over ten years ago. He has worked with a wide range of clients from individuals to Fortune 500 companies. Ken’s experience and knowledge provide his clients with a tremendous advantage in real estate transactions and make him a trusted and dependable partner.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
