Suffolk is the largest city in the Commonwealth of Virgina, and it continues to see growth which makes it a prime opportunity for investors. With rural, urban, suburban and historic districts, here are some great investment ideas for the Suffolk area.
1. Open a Resort
Suffolk boats over 8,000 acres of lakes along with the Nansemond River. With so much water frontage, Suffolk makes a great place to plan a resort. See Suffolk land for sale to inspire ideas on the perfect location. You can offer fishing tours or simply provide stately decks with beautiful water views.
2. Start an Antique Business
Suffolk offers historic charm to its inhabitants and its visitors. It’s a great place to inspire people to want to take a piece of history with them. The Downtown area of Suffolk retains its rich colonial history making it a great area to open shop. If you purchase a property within the National Register District, you could be eligible for tax-incentive rehabilitation programs.
3. Open a Toy Store
Suffolk is a great tourist destination, offering several quaint museums along its Main Street. From sea ports to seaboard rail stations, these museums inspire young imaginations. A toy store can complement the rich history of Suffolk for its youngest visitors.
4. Buy a Bed and Breakfast
Bed and breakfasts remain a popular option for travel, especially for couples who are looking for a romantic retreat. Because Suffolk has so many historic districts with older homes, this makes it a great location for travel investment. Find a historical home for sale that has big, beautiful bedrooms that can accommodate the addition of bathrooms if necessary. The perfect spot will have a large dining area where your guests can enjoy warm meals before spending their day journeying about time experiencing everything Suffolk has to offer.