The OLD MARKET PLACE, bounded by Grove Rock St., River St., and Cockade Alley, is an octagonal red brick building with twin chimney pots at each angle and a roof extending over the side walks. It was erected in 1879 to supersede a simple frame building. The site for a public market was donated in 1805 by Robert Bolling. In its early days it was the only place where meats and vegetables could be sold. The building is now leased by operators of a grocery store and meat market. - Virginia: A Guide to the Old Dominion, 1940, Petersburg section, pg 276
The building is owned by the City of Petersburg and is very well maintained. The building was added to the National Register of Historic Places in 1969.