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530 E Washington Street

Petersburg, VA 23803
  • $2,400,000
  • STATUS: Active
  • ON SITE: 266 Days
  • MLS #: 2206587
UPDATED: 39 min ago
$2,400,000
  • 0
    BEDS
  • 2.95
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1969
County:

School Ratings & Info

Description

Conveniently located just west of I-95 and less than a mile from the I-85/I-95 interchange, this 6 story hotel, currently operating as an independently run extended stay Travel Inn, offers a scalable redevelopment project, either for a franchise operator or a developer, and is poised to capitalize on both opportunity zone and enterprise zone incentives. The propertys current B-2 zoning allows for operation of a hotel and also includes by-right entitlement for a potential apartment conversion. The property site is comprised of a 61,000 SF structure which includes both the hotel and an attached full service restaurant not currently in operation, as well as a porte cochere and approximately 160 +/- parking spaces. The site size also provides for ample opportunity to reconfigure parking, expand the building footprint, and/or develop amenity space. The main structure includes elevator service and individual balconies for every unit, which could also perhaps be reclaimed square footage in a redevelopment.

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Central Virginia Regional MLS logo All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2022 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-12-07T21:57:20.357.
www.blakeandalipooreteam.com/homes/126732451
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530 E Washington Street Petersburg, VA 23803

  • Price: $2,400,000
  • Status: Active
  • On Site: 266 Days
  • Updated: 39 min ago
  • MLS #: 2206587
0
Beds
0
Baths
0
½ Baths
2.95
Acres
1969
Built
Neighborhood:
57 - Petersburg
County:
Petersburg
Area:
57 - Petersburg
Property Description
Conveniently located just west of I-95 and less than a mile from the I-85/I-95 interchange, this 6 story hotel, currently operating as an independently run extended stay Travel Inn, offers a scalable redevelopment project, either for a franchise operator or a developer, and is poised to capitalize on both opportunity zone and enterprise zone incentives. The propertys current B-2 zoning allows for operation of a hotel and also includes by-right entitlement for a potential apartment conversion. The property site is comprised of a 61,000 SF structure which includes both the hotel and an attached full service restaurant not currently in operation, as well as a porte cochere and approximately 160 +/- parking spaces. The site size also provides for ample opportunity to reconfigure parking, expand the building footprint, and/or develop amenity space. The main structure includes elevator service and individual balconies for every unit, which could also perhaps be reclaimed square footage in a redevelopment.
Exterior Features

Construction Materials Brick Levels Three Or More Road Frontage Type City Street Roof Built-Up Topography LevelRolling

Interior Features

Basement YN No Building Area Total 61730 Cooling Central Air Cooling YN Yes

Property Features

Property Condition Average Condition Sewer Public Sewer Water Source Public Zoning Description B-2

Central Virginia Regional MLS logo Listing provided by One South Realty Group, Llc: 804-353-0009. Listing information © 2022 CVRMLS and CBRAR.


Central Virginia Regional MLS logo All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2022 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-12-07T21:57:20.357.
 
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