#1 • UNDER CONTRACT! | 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

Part of 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)

Status: Available

UNDER CONTRACT! 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 and Onsite 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 or Brian Hosein at (804) 873-1448 for More Information.