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

Investment Figures

Cap rate
5.66%

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 suite and three apartments one levels two and three. Stabilized rent roll. Art Gallery tenant is entering over twenty four 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 5.7% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 99 days. Compare it against other mixed use listings for sale in Richmond, VA — view the full market.

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