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Key Details
Sold Price $725,000
Property Type Commercial/Industrial
Sub Type Purchase
Listing Status Sold
Purchase Type For Sale
Square Footage 24,827 sqft
Price per Sqft $29
Subdivision Olde Towne - 119
MLS Listing ID 10565204
Year Built 1941
Annual Tax Amount $8,449
Lot Size 10,890 Sqft
Property Sub-Type Purchase
Property Description
This property is a rare opportunity to own and redevelop a historic mixed use building in the hearth of Olde Towne Portsmouth. There are currently are 8 fully occupied apartments on the third floor, rental income $7,000/mo. Three 1 bedroom and five 2 bedroom apartments. Lots of upside potential with the first and second floor commercial space, former theater space is currently vacant and blank canvas to redesign into a number of uses. 48 hours notice to show commercial space, listing agent must accompany showing. Proof of funds required prior to scheduled showing. Occupied units available to show only with due diligence. Sold strictly in As-Is condition, Seller to make no repairs. Newer sprinkler throughout property, back street tenant staircase recently refurnished. Please Do Not Disturb Tenants.
Location
State VA
County Portsmouth
Area 21 - Central Portsmouth
Zoning T5
Interior
Heating Gas
Cooling Central Air
Flooring Carpet, Concrete
Exterior
Parking Features Close to Mass Transit, Street, 1-25 Spcs
Utilities Available City Sewer, City Water, Electric, Gas, Meter
Roof Type Asphalt Shingle,Poly Skin
Building
Foundation Basement, Slab
Others
Special Listing Condition Disclosure Statement, Historical District
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Bought with Long & Foster Real Estate Inc.
Andrew Christie
Broker Associate | License ID: 0225199734
Broker Associate License ID: 0225199734