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Listed price in listed location currency (USD).
$6,385,000

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MLS® 2611907

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes 
Days Active 0
Lot Size 
Approx. Age 1900
MLS® Number 2611907

Property Address: 1131 Commerce Street, Petersburg, VA, 23803

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number2611907
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1900
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 5, 2026List Date
$6,385,000List Price
  • Commute

Commute

Starting Address
Destination Address
1131 Commerce Street, Petersburg, VA

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