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320 Penniman Rd

3.86 Acres of Commercial Land Offered at £670,650 in Williamsburg, VA 23185

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Investment Highlights

Opportunity Zone Land

Executive Summary

Prime parcel of B2 zoned land located in the City of Williamsburg. This parcel received a SUP, with conditions, to construct 29 condominiums. The conditions were not met and the owner has decided. to sell the property. There are a multitude of permitted and permitted by special use opportunities. A copy of the most recent City code for B-2 and SUP are included in the documents.

11-015 SITE PLAN

Survey

B-2 Sec._21_322.___Permitted_Special uses. (3)

B-2 Sec._21_322.___Permitted_uses. (1)

Property Facts

Price	£670,650	Property Subtype	Commercial
Sale Type	Investment or Owner User	Proposed Use	Commercial Industrial Retail Self Storage
Sale Conditions	1031 Exchange Design & Build Development Sale	Total Lot Size	3.86 AC
No. Lots	1	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Type	Land

Price	£670,650
Sale Type	Investment or Owner User
Sale Conditions	1031 Exchange Design & Build Development Sale
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Industrial Retail Self Storage
Total Lot Size	3.86 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Price	£670,650	Lot Size	3.86 AC
Price Per AC	£173,744

Price	£670,650
Price Per AC	£173,744
Lot Size	3.86 AC

The parcel is triangular in shape and abuts a city controlled RPA on the eastern side (right angle) development is permitted with conditions. B-2 permitted and SUP can be found in the documents.

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320 Penniman Rd, Williamsburg, VA - aerial map view

PROPERTY TAXES

Parcel Number	2722.350.572	Improvements Assessment	£0
Land Assessment	£102,649	Total Assessment	£102,649

PROPERTY TAXES

Parcel Number

2722.350.572

Land Assessment

£102,649

Improvements Assessment

£0

Total Assessment

£102,649

zoning

Zoning Code	B-2
B-2

Listing ID: 13939707
Date on Market: 02/10/2018
Last Updated:
Address: 320 Penniman Rd, Williamsburg, VA 23185

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320 Penniman Rd, Williamsburg, VA for sale Aerial- Image 1 of 2 — Aerial

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