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1131 Commerce St
Petersburg, VA 23803
Long Lofts · Immeuble residentiel Bien À vendre
·
62 Lots
Certaines informations ont été traduites automatiquement.
Informations principales sur l'investissement
- 95% average occupancy
- 29 months average resident tenure
- Partial RE tax assessment reduction
- 5.6% year-over-year rent growth
- $1,102/month ($1.73 PSF) average effective rent/ $40/unit/month water & sewer recovery
- Fully amenitized and management office onsite
Résumé analytique
Long Lofts is a boutique, loft-style multifamily community located in the heart of Historic Petersburg, offering investors stabilized cash flow with durable physical
characteristics and timeless appeal. The Property includes a multitude of unique one-bedroom floor plans featuring open-concept layouts and modern finishes,
appealing to renters seeking well-located housing with high end amenities at accessible price points.
Notably, the all one-bedroom unit mix represents a strategic advantage, aligning with the deepest and most liquid segment of renter demand—including young
professionals, students, and single-person households. This configuration supports strong leasing velocity, simplified operations, and eliminates roommate friction, ultimately enhancing income durability.
Average in-place rents at Long Lofts ($1,057 for 1BD units) remain attractive relative to competing newly delivered product, providing a strong foundation for both stable
occupancy and rent growth. Leasing performance at nearby properties further validates the depth of demand. Market Street Lofts, a recently delivered, amenity-rich community, is achieving 1BD rents in the $1,165-$1,250+ range, while the nearby Candy Factory has demonstrated 1BD rents in the $1,245-$1,395 range.
Petersburg is gaining strong economic momentum, driven by major investments such as the $1.4B Live! Casino & Hotel Virginia, a new data center campus, and ongoing Old Towne redevelopment. These projects are expected to boost jobs, wages, and housing demand, supporting a positive long-term outlook for the rental market.
Pricing guidance:
$5,975,000 free and clear / 7.25 % T12 cap rate
OR
$5,850,000 with assumption of in place Freddie Mac Loan / 7.4% T12 cap rate
Assumption Details:
Principal Balance: $4,708,000 (10/26)
Rate: 5.05%
Amortization: 30 Years
Maturity Date: April 1, 2028
Yield Maintenance Expiration: October 1, 2027
characteristics and timeless appeal. The Property includes a multitude of unique one-bedroom floor plans featuring open-concept layouts and modern finishes,
appealing to renters seeking well-located housing with high end amenities at accessible price points.
Notably, the all one-bedroom unit mix represents a strategic advantage, aligning with the deepest and most liquid segment of renter demand—including young
professionals, students, and single-person households. This configuration supports strong leasing velocity, simplified operations, and eliminates roommate friction, ultimately enhancing income durability.
Average in-place rents at Long Lofts ($1,057 for 1BD units) remain attractive relative to competing newly delivered product, providing a strong foundation for both stable
occupancy and rent growth. Leasing performance at nearby properties further validates the depth of demand. Market Street Lofts, a recently delivered, amenity-rich community, is achieving 1BD rents in the $1,165-$1,250+ range, while the nearby Candy Factory has demonstrated 1BD rents in the $1,245-$1,395 range.
Petersburg is gaining strong economic momentum, driven by major investments such as the $1.4B Live! Casino & Hotel Virginia, a new data center campus, and ongoing Old Towne redevelopment. These projects are expected to boost jobs, wages, and housing demand, supporting a positive long-term outlook for the rental market.
Pricing guidance:
$5,975,000 free and clear / 7.25 % T12 cap rate
OR
$5,850,000 with assumption of in place Freddie Mac Loan / 7.4% T12 cap rate
Assumption Details:
Principal Balance: $4,708,000 (10/26)
Rate: 5.05%
Amortization: 30 Years
Maturity Date: April 1, 2028
Yield Maintenance Expiration: October 1, 2027
Informations sur l’immeuble
| Prix par lot | 82 981 € | Surface du lot | 0,98 ha |
| Type de vente | Investissement | Surface de l’immeuble | 6 306 m² |
| Nb de lots | 62 | Occupation moyenne | 95% |
| Type de bien | Immeuble residentiel | Nb d’étages | 2 |
| Sous-type de bien | Appartement | Année de construction/rénovation | 1900/2017 |
| Style d’appartement | De faible hauteur | Ratio de stationnement | 0,1/1 000 m² |
| Classe d’immeuble | A | ||
| Zonage | PUD & M-1 | ||
| Prix par lot | 82 981 € |
| Type de vente | Investissement |
| Nb de lots | 62 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | A |
| Surface du lot | 0,98 ha |
| Surface de l’immeuble | 6 306 m² |
| Occupation moyenne | 95% |
| Nb d’étages | 2 |
| Année de construction/rénovation | 1900/2017 |
| Ratio de stationnement | 0,1/1 000 m² |
| Zonage | PUD & M-1 |
Caractéristiques
Caractéristiques du lot
- Climatisation
- Prêt pour le câble
- Machine à laver/sèche-linge
- Ventilateurs de plafond
- Réfrigérateur
- Four
Caractéristiques du site
- Club-house
- Cour
- Centre de fitness
- Clôturé
- Grill
Taxes foncières
| N° de parcelle | Évaluation des aménagements | 5 883 365 € | |
| Évaluation du terrain | 825 670 € | Évaluation totale | 6 709 035 € |
Taxes foncières
N° de parcelle
Évaluation du terrain
825 670 €
Évaluation des aménagements
5 883 365 €
Évaluation totale
6 709 035 €
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