SOLD! | Public Online & Onsite Auction | Unoccupied 6-Story Hotel & Attached Restaurant | 61,730± SF | Zoned B-2 | Opportunity & Enterprise Zone | 530 E. Washington Street | Petersburg, VA
Listings by Motleys Asset Disposition Group
Location: 530 E. Washington St., Petersburg, VA 23803
Click here to view an Interactive Aerial Map of the area! SOLD! Motleys Commercial Real Estate is pleased to present 530 E. Washington St., a 117 room, unoccupied hotel situated on 2.954± acres in downtown Petersburg, VA. Conveniently located just west of I-95 and less than a mile from the I-85/I-95 interchange, this 6 story hotel 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 property’s current B-2 zoning allows for operation of a hotel and 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, a covered entrance, an attached full-service restaurant not currently in operation and 160± parking spaces. 530 E Washington is a perfect opportunity to get in on the ground floor of one of central Virginia’s most historic cities and develop in an emerging market with an increasingly visible profile! Features: Online & Onsite Public Auction $25,000 Deposit Unoccupied Hotel & Restaurant 61,730± SF 2.95± AC Lot 6 Stories 117 Rooms 160± Parking Spaces Built in 1969 Zoned B-2 Opportunity Zone & Enterprise Zone Location Located in Downtown Petersburg, VA – Just West of I-95 and Less Than a Mile From the I-85/I-95 Interchange Excellent Investment/Redevelopment Opportunity! Contact Ernie Rogers at (804) 334-4558 for More Information.