220 Perry Street, Petersburg, VA

$1,600,000

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1.72

Acres

About 220 Perry Street

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.

Features of 220 Perry Street

MLS® # 2329659
Price $1,600,000
Bathrooms 0.00
Acres 1.72
Year Built 1920
Type Commercial Sale
Status Pending

Community Information

Address 220 Perry Street
Area 57 - Petersburg
City Petersburg
County Petersburg
State VA
Zip Code 23803

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling CentralAir
Fireplace No
# of Stories 2

Exterior

Exterior Brick
Lot Description Level
Roof Flat

Additional Information

Date Listed November 30th, -0001
Days on Market 117
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeOne South Commercial LLC

Listing Map

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