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600 W Wythe St 277,408 SF 100% Leased Industrial Building Petersburg, VA 23803 For Sale
INVESTMENT HIGHLIGHTS
- Richmond, VA MSA with immediate access to I-95 and I-85
- Located in Virginia’s gateway region, an east coast hub for advanced pharma manufacturing
- Enterprise Zone location
- Minutes from Fort Lee, which supports approximately 70,000 people off post and has a $2+ billion economic impact regionally
- Walkable to restaurants, breweries, and outdoor entertainment
- Excellent opportunity to blend historic and low income housing tax credits
EXECUTIVE SUMMARY
PROPERTY INFO
-255,000 sq. ft. surface parked historic warehouse
-Residential PUD (Planned Unit Development) Zoning
-Eligible for state and federal tax credits
-Historic designations in hand
SUBMARKET METRICS
-Multifamily sales in Petersburg have grown 3x over the several years
-Submarket pricing has increased by nearly $50,000 per unit since 2017
-Rent growth and occupancy have tracked those of Richmond proper
-Limited development pipeline supports healthy absorption
-255,000 sq. ft. surface parked historic warehouse
-Residential PUD (Planned Unit Development) Zoning
-Eligible for state and federal tax credits
-Historic designations in hand
SUBMARKET METRICS
-Multifamily sales in Petersburg have grown 3x over the several years
-Submarket pricing has increased by nearly $50,000 per unit since 2017
-Rent growth and occupancy have tracked those of Richmond proper
-Limited development pipeline supports healthy absorption
DATA ROOM Click Here to Access
- Market Information
- Operating and Financials
- Third Party Reports
- Miscellaneous
PROPERTY FACTS
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Industrial | Year Built/Renovated | 1903/2009 |
| Property Subtype | Warehouse | Parking Ratio | 0.14/1,000 SF |
| Building Class | C | No. Dock-High Doors/Loading | 10 |
| Lot Size | 5.03 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 277,408 SF | ||
| Zoning | Residential PUD - Planned Unit Development | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 5.03 AC |
| Rentable Building Area | 277,408 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1903/2009 |
| Parking Ratio | 0.14/1,000 SF |
| No. Dock-High Doors/Loading | 10 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Residential PUD - Planned Unit Development |
AMENITIES
- Bus Line
- Fenced Lot
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PROPERTY TAXES
| Parcel Number | 023-30-0005 | Improvements Assessment | $3,961,817 CAD |
| Land Assessment | $313,747 CAD | Total Assessment | $4,275,564 CAD |
PROPERTY TAXES
Parcel Number
023-30-0005
Land Assessment
$313,747 CAD
Improvements Assessment
$3,961,817 CAD
Total Assessment
$4,275,564 CAD
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600 W Wythe St
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