124 W Bank Street, Petersburg, VA 23803

Property Description

Historic Mixed-Use Opportunity in the Heart of Old Towne Petersburg Located in the vibrant downtown district of Old Towne Petersburg, this circa-1820 brick mixed-use building offers a rare opportunity for residential income, commercial use, or a live-work setup. Zoned B-3 (Central Business District), the property allows for a variety of uses including retail, office, restaurant, gallery, or residential, making it ideal for investors and business owners alike. The property offers approximately 2,900 square feet and is currently configured as a duplex. Each unit has separate entrances, utilities, and mailboxes, providing flexibility for leasing or owner occupancy. The first-floor space features spacious rooms with high ceilings and exposed brick, offering excellent potential for retail storefront, office space, studio, or a reimagined residential unit. The layout allows for a possible second bedroom or commercial storefront conversion, depending on the buyer’s vision. Upstairs, the second-floor apartment provides comfortable living space and includes access to a private rooftop terrace, perfect for entertaining or enjoying views of the historic downtown district. Major improvements include a new thermoplastic polyolefin (TPO) roof installed in 2025, new second-floor HVAC (2025), first-floor HVAC replacement in 2021, and a fully waterproofed basement with an additional sump pump. Additional features include an attached garage with direct access to the first floor, offering potential for additional commercial space, storage, or possible conversion, along with paved rear parking and convenient access via Bartow Alley. Just steps from restaurants, galleries, shops, and entertainment, this unique property combines historic character, income potential, and commercial flexibility in one of Petersburg’s most desirable downtown locations.