716 W Washington St, Petersburg, VA 23803 For Sale

Positioned in the heart of Old Town Petersburg, this striking 2.5-story historic property offers a rare opportunity to reimagine nearly 4,852 square feet of character-rich space in one of the city’s most promising growth corridors.

Formerly operated as a multifamily asset, the building’s existing layout provides a strong foundation for redevelopment into boutique apartments, professional office space, or a dynamic mixed-use concept. With its timeless architectural details and prominent presence, the property blends historic charm with flexible potential—ideal for investors or owner-occupants seeking a signature project with lasting impact.

Adding to its appeal, the property is located within an Enterprise Zone and may qualify for valuable historic tax credits, creating meaningful financial incentives to support renovation and repositioning. Just five miles from Petersburg’s highly anticipated Live! Casino development, this location stands to benefit from increased economic activity, job growth, and renewed community investment. Whether restored as an income-producing asset or transformed into a distinctive headquarters or live-work environment, this property represents a compelling opportunity to capitalize on Petersburg’s continued revitalization.