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124 W Bank Street, Petersburg, VA 23803 (MLS # 2606021)

Price $389,000
Status Active
Size 2,905 sqft
Lot Size 3,028 sqft
Days on Market 2
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.
Property Type(s): Commercial
Last Updated 3/12/2026 Year Built 1820
Community 57 - Petersburg County Petersburg

Additional Details

AIR Central Air
AIR CONDITIONING Yes
AREA 57 - Petersburg
CONSTRUCTION Brick
HEAT Electric, Zoned
INTERIOR MultiTenant, NoElevators
LOT 3027 sq ft
LOT DESCRIPTION Level
LOT DIMENSIONS 34x89
SEWER Public Sewer
STORIES 3+
WATER Public
ZONING B-3

Location

 

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Listed with KW Metro Center

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.

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Last Updated: 3/12/26 4:50 PM PDT

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