Property Summary
One South Commercial is pleased to bring to market 125 N Market St, a former woodworking and furniture building facility from the late 1800s. This historic property is located in the heart of Petersburg’s Courthouse historic district with Enterprise and Opportunity Zone designations. This property includes the building and the neighboring lot of 128 W Tabb St. The property is prime for historic tax credit (both Federal & State) development for Twenty Six (26) 1 and 2 Bdrm apartments. There is also an option to create a total of 40 apartments – 28 1 Bdrm, and 12 Studios (demising plan attached). The DHR Part II Approval has already been secured for the apartment development and the permit set plans have been created by Enteros Design, a Richmond-based, full-service architecture firm. The current structure sits on a generous lot totaling 0.435 acres which will allow for ample off-street parking for residents. 125 N Market St is a fantastic opportunity to breathe new life into a prominent piece of local history.
PROPERTY HIGHLIGHTS:
- Opportunity & Enterprise Zone
- B-3 Zoning
- DHR Part II Approval
- 27,300 SF
PROPERTY DETAILS
| Units | 40 |
|---|---|
| Parcel ID | 011-240001 & 011-240002 |
| Const. Materials | Brick |
| Zoning Desc. | B-3 |
| Construction Date | 1846 |
| Co-broker Fee | Yes |