Address
136 River Street, Petersburg, VA
Price
$ 1,450,000
Property Attributes
- MLS#2624166
- TypeCommercial
- Listing Status Pending
- CountyPetersburg
- CityPetersburg
- Area57 - Petersburg
- Zip23803
- Style
- Year Built1880
- Price$ 1,450,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage17600
- Lot Size1.5 Acres
Data Source:
Central Virginia Regional MLS (CVRMLS)
Property Description
Petersburg Civic Center – Unique Mixed-Use Investment Opportunity Rare opportunity to acquire a distinctive mixed-use, income-producing property package in Petersburg offering multiple potential revenue streams and tremendous investment possibilities. The offering includes the well-known Petersburg Civic Center at 136 River Street, the associated properties at 100–114 River Street, along with 431 Third Street, which conveys with the sale and provides valuable additional parking. The centerpiece of the property is the Petersburg Civic Center, an established event and gathering facility offering a unique venue for receptions, weddings, meetings, celebrations, community events and other functions. An investor or owner/operator has the opportunity to continue the existing operation while exploring additional uses and revenue opportunities for this versatile facility. Adding significantly to the investment potential are 11 residential apartment units, with a combined potential rental income of approximately $9,250 per month or $111,000 annually when fully occupied, based on information provided by the owner. The combination of residential rental income, billboard opportunity and an income-producing event facility creates a particularly interesting opportunity for an investor seeking multiple revenue streams within one property package. Located in Petersburg's historic River Street/Old Towne area, the property is convenient to downtown Petersburg, Interstate 95, Interstate 85 and the surrounding Tri-Cities region. The property also benefits from its proximity to the new Petersburg casino and entertainment development, adding another major attraction and investment to the Petersburg market. Property information, square footage, income, expenses, apartment count, permitted uses, permits and certificates of occupancy should be independently verified by purchaser as part of due diligence.
| Price History | |
|---|---|
| 9/4/2026 | Listed $1,450,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Electric,Floor Furnace,Natural Gas |
| Cooling | Central Air |
| Possession | Close Of Escrow |
| Roof | Other |
| Construction Materials | Brick |
| Year Built | 1880 |
| Stories | 2 |
| Topography | Level |
| Levels | Two |
| Percent Ownership | Investment |
| Accessibility | Accessibility Features |
| County | Petersburg |
| Property Type | Commercial Sale |
| Possible Use | Restaurant,Retail |
| Building Features | Elevator(s),Multi-Tenant |
| Total Rooms | 1 |
| Status | Pending |
| Zoning Description | M1 |
| MLS Area | 57 - Petersburg |
| Lot Size Units | Acres |
| Year Built Details | Approximate |
| Property Condition | Good Condition |
| Leasable Area | 17600 |
| Lease Considered Y/N | false |
| Days on Market | 6 |
| Standard Status | Pending |
Interior Features
| Total Stories | 2 |
|---|---|
| Basement (Y/N) | false |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| BuyerOfficeEmail | [email protected] |
Exterior Features
| Fencing | Wood |
|---|---|
| Lot Features | Level |
| Water Source | Public |
| Lot Size Area | 1.5 |
| Building Area Total | 17600 |
| Lot Size Acres | 1.5 |
| Road Frontage Type | City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 23803
Price
Year Built
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
All MLS listings are © 2026 Central Virginia Regional Multiple Listing Service, LLC. All
