The suburb is less than 2 kilometres (1.2 mi) west of the Brisbane General Post Office. The precinct is bordered to the west by Hale Street and to the east by Countess Street. Its northern boundary is Musgrave Road and its southern is Milton Road.
The Albert Park Flexi School is the only school in Petrie Terrace. Children in the area attend a number of schools in the surrounding suburbs; including the  in Paddington and Brisbane Grammar School (boys) and Brisbane Girls Grammar School in Spring Hill.
In December 1865, "Lincoln Estate", being subdivisions of original portions 579, 580, 581, 597, 596 and 595 of the Parish of Enoggera, County of Stanley, in what is now known as Petrie Terrace, were advertised to be auctioned by Arthur Martin & Co.
In December 1876, portion 296, North Brisbane made up of 12 allotments were advertised to be auctioned by Mr John Cameron. A map advertising the auction shows the allotments located in Jessie Street, Petrie Terrace.
In February 1883, 50 allotments in what is now known as Petrie Terrace, and 45 allotments in what was known as Bishop's Hill, Petrie Terrace, were advertised to be auctioned by Arthur Martin & Co. A map advertising the auction shows the allotments located in Petrie Terrace, Petrie Terrace. The map inset shows close proximity to Normanby Station and the Normanby Hotel.
Petrie Terrace has a number of heritage-listed sites, including:
- 15-17 Caxton Street: Baroona Labor Hall
- 1 Hale Street: Baroona Special School (now Albert Park Flexi School)
- 69 Hale Street: La Boite Theatre Building
- 25-61 Petrie Terrace: Petrie Terrace Police Depot
- 256 Petrie Terrace: Florence House
In 2007-2008 the former Petrie Terrace Police Depot was converted to a retail precinct called The Barracks, which contains cinemas, restaurants, shops and offices with underground car parking. The heritage buildings have been incorporated in the development. The Barracks has a walkway connection through to Roma Street railway station.
The Hotel LA (formerly the Lord Alfred Hotel) on Caxton Street. The hotel is a famous Brisbane Pub with a rich and colourful history since 1870 when it was established. The hotel was conveniently positioned opposite the Old Victoria Barracks (built in Petrie Terrace between 1864–74) to attract the military personnel. It caters as a "bar" for the younger set.
on Caxton Street, was originally built in 1884.
The Baroona Hall (otherwise known as the Caxton Street Hall and formerly the United Brothers lodge). The hall was constructed between 1883 and 1884 by the United Brothers Lodge, Manchester Unity Independent Order of Oddfellows. The lodge was established in 1873, to meet the needs of a large working class population without protection against injury, illness or other hardships. Baroona Hall is also associated with Brisbane architect, Richard Gailey as an example of his work and who designed many notable commercial and residential buildings including the Oddfellows Hall in Fortitude Valley and a Masonic Hall at Toowong. In 1918, the hall was leased to Isidor Josephson, a clothing manufacturer who built a substantial business which eventually extended to most other states. The hall was utilised by the lodge and the community for a number of years and the shops were continually occupied by a number of small businesses including bakers, stationers, hairdressers, bootmakers, drapers, and the Caxton Street Legal Services from 1976. A shop at the front was for many years, famously, the location of Tony Frangos, a traditional European style tailor. The Hall at the back was also an infamous live band venue where many Brisbane rock acts, as well as interstate acts played between 1975 and 1985. The building houses the "Velvet Cigar Strip Club".
Since 1994 the Caxton Street Seafood and Wine Festival has been held on the Labour Day weekend.
- Australian Bureau of Statistics (27 June 2017). "Petrie Terrace (State Suburb)". 2016 Census QuickStats. Retrieved 13 April 2018.
- "Paddington Ward". Brisbane City Council. Brisbane City Council. Archived from the original on 12 March 2017. Retrieved 12 March 2017.
- "Petrie Terrace (entry 46582)". Queensland Place Names. Queensland Government. Retrieved 15 September 2013.
- "Albert Park Flexible Learning Centre". Archived from the original on 19 February 2017. Retrieved 28 January 2017.
- "Petrie Terrace SS". Archived from the original on 2 February 2017. Retrieved 28 January 2017.
- "Classified Advertising". The Brisbane Courier. Queensland, Australia. 22 August 1865. p. 5. Retrieved 29 February 2020 – via Trove.
- "Lincoln Estate". 23 December 1865. hdl:10462/deriv/280858. Cite journal requires
- "Classified Advertising". The Brisbane Courier. XX (2, 467). Queensland, Australia. 23 December 1865. p. 8. Retrieved 24 September 2019 – via National Library of Australia.
- "Plan of subdivision of portion 296, north Brisbane". State Library of Queensland. 18 December 1876. Retrieved 26 March 2019.
- "Monster auction sale business & building sites, Petrie Terrace. Bishop's Hill, Petrie Terrace". 10 February 1883. hdl:10462/deriv/18291. Cite journal requires
- "Advertising". The Telegraph (3, 219). Queensland, Australia. 6 February 1883. p. 4. Retrieved 24 September 2019 – via National Library of Australia.
- "Baroona Labor Hall (entry 600277)". Queensland Heritage Register. Queensland Heritage Council. Retrieved 19 June 2013.
- "Baroona Special School (entry 600278)". Queensland Heritage Register. Queensland Heritage Council. Retrieved 19 June 2013.
- "La Boite Theatre (entry 602171)". Queensland Heritage Register. Queensland Heritage Council. Retrieved 19 June 2013.
- "Petrie Terrace Police Depot (former) (entry 601894)". Queensland Heritage Register. Queensland Heritage Council. Retrieved 19 June 2013.
- "Residence 'Florence House'". Brisbane Heritage Register. Brisbane City Council. Retrieved 14 July 2016.
- "History". The Barracks. Archived from the original on 3 January 2015. Retrieved 4 January 2015.
- "Baroona Hall". Queensland Government. Archived from the original on 13 October 2004. Retrieved 30 November 2008.