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220 Perry Street

Petersburg, VA 23803
  • $1,600,000
  • STATUS: Active
  • ON SITE: 75 Days
  • MLS #: 2329659
UPDATED: 83 min ago
$1,600,000
  • 0
    BEDS
  • 1.72
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Ratings & Info

Description

This single-tenant, Triple Net Lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Pre-Con, a subcontractor for Honeywell International, Inc., has been in place for over 12 years. Back in the mid-1980s, this two-story building was repurposed for the current manufacturing use. The building has two floors of 20,000 square feet and a freight elevator. The property contains 1.719 acres just off the premier thoroughfare in Petersburg, US Highway 460. The industrial market in the Richmond-Petersburg area is extremely strong as demand exceeds supply by a significant margin. Rental rates have risen considerably but remain much more reasonable compared to the Northern Virginia market, providing a long-term strategic advantage. Petersburg sits at the intersection of I-95 and I-85, making it a distribution hub for the entire East Coast. 220 Perry Street has a Triple Net Lease structure with the tenant responsible for all utilities, real estate taxes and building insurance along with all maintenance of the building.

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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 © 2024 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: 2024-02-28T13:57:26.653.
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220 Perry Street Petersburg, VA 23803

  • Price: $1,600,000
  • Status: Active
  • On Site: 75 Days
  • Updated: 83 min ago
  • MLS #: 2329659
0
Beds
0
Baths
0
½ Baths
1.72
Acres
1920
Built
Neighborhood:
57 - Petersburg
County:
Petersburg
Area:
57 - Petersburg
Property Description
This single-tenant, Triple Net Lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Pre-Con, a subcontractor for Honeywell International, Inc., has been in place for over 12 years. Back in the mid-1980s, this two-story building was repurposed for the current manufacturing use. The building has two floors of 20,000 square feet and a freight elevator. The property contains 1.719 acres just off the premier thoroughfare in Petersburg, US Highway 460. The industrial market in the Richmond-Petersburg area is extremely strong as demand exceeds supply by a significant margin. Rental rates have risen considerably but remain much more reasonable compared to the Northern Virginia market, providing a long-term strategic advantage. Petersburg sits at the intersection of I-95 and I-85, making it a distribution hub for the entire East Coast. 220 Perry Street has a Triple Net Lease structure with the tenant responsible for all utilities, real estate taxes and building insurance along with all maintenance of the building.
Exterior Features

Construction Materials Brick Levels Two Lot Features Level Road Frontage Type City Street Roof Flat Topography Level

Interior Features

Basement YN No Building Area Total 40000 Cooling Central Air Cooling YN Yes Rooms Total 2

Property Features

Buyer Agency Compensation 2.00 Disclosures Owner Is Listing Agent Lease Considered YN No Property Condition Good Condition Sewer Public Sewer Water Source Public

Central Virginia Regional MLS logo Listing provided by One South Commercial LLC: (804) 353-0009. Listing information © 2024 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 © 2024 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: 2024-02-28T13:57:26.653.
 
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Marc Austin Properties at EXIT First Realty
11207 Nuckols Road, Suite E
Glen Allen VA, 23059