Centennial Terrace — Sale in Richmond, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Richmond, VA 23219

Description

Last Space Available! 776 SF For Lease Centennial Terrace is a new, luxury apartment complex in the heart of Downtown Richmond. There is one suite available totaling 776 SF. Join other retailers who have taken advantage of this amazing location. There is an appealing mix of grocery stores, coffee shops, shopping, and parks within close range of this location, offering high foot traffic to draw into the location. There is also a unique mix of hotels within walking distance, offering tourism traffic to draw in as they walk by. + The retail space available at 507 E Main Street is available immediately with all new MEPS + 1 suite available - 776 SF in Suite 507B + Excellent visibility on Main Street + Property offers excellent walkability - including close proximity to Virginia Commonwealth University, Medical College of Virginia (MCV) and Downtown Richmond + Excellent opportunity with high volume foot traffic, ideal for a restaurant or other gourmet options + Enterprise Zone incentives are available for this location

Market Context

This retail in Richmond, VA is listed for sale. It has been on the market for 195 days. Compare it against other retail listings for sale in Richmond, VA — view the full market.

As of Q1 2026, the Richmond retail market showed average asking rents near $23.93/SF/yr, and cap rates around 5.1%. Source: multiple brokerage reports, Q1 2026.

Retail market FAQ

What is the typical cap rate for retail in Richmond?
About 5.1% as of Q1 2026, per multiple brokerage reports.

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