Richmond Stabilized Mixed-Use Opportunity - Retail… — Sale in Richmond, VA
- Price: Contact for price
- Listing type: For sale
- Asset type: Business
- Location: Richmond, VA 23220
Photos
Investment Figures
- Cap rate
- 5.61%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Mixed-Use asset with one retail suite and three (3) residential apartments on second and third floors. Stabilized rent roll. Art Gallery tenant is entering over twenty four years of tenancy. Room to push rents to market on apartment renewals and commercial lease has 5% increases year over year. Great location in VCU submarket. Excellent condition with recent renovation of apartment one. Investment Highlights: • Stabilized asset with good current tenants and building condition. • Great location in Richmond's Downtown Art's District; A downtown area with shops, bars, restaurants, hotels, art galleries, offices and walk-up apartments. Adjacent to new VCU/CoStar Arts Bldg. • Management has opportunity to push rents from current levels to market. • Proximate to VCU Medical Center and Central Business District.
Market Context
This mixed use in Richmond, VA is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Richmond, VA — view the full market.
Contact
- Kerry Riley · (804) 802-6880 · kerry.riley@marcusmillichap.com
Explore this market
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