Shopping Strip
James River Center
2403 Richmond Hwy, Richmond, VA 23234
Listing Price: $3,035,000
Cap Rate
7.50%
Gross SF
19,251
Rentable SF
19,251
Price/Gross SF
$157.65
Lot Size
1.29 acres
Year Built
1949
Investment Overview
Marcus & Millichap is pleased to present for sale a 19,250 square foot retail strip center located in Richmond, Virginia. The subject property, James River Center, is 95-percent leased with all brand new leases executed in 2023.
Investment Highlights
- 19,250 Square Foot Retail Center
- 95% Leased I 7 Tenants | 9 Units | 1,000 SF Still Available
- Renovation Completed in 2024 | New Roof, Plumbing, Windows, Doors, HVAC Units
- All Brand New Leases Executed since 2023
- Value-Add Potential | Three (3) Short Term Leases Expire 2026-2027 | Add Reimbursements to All Leases
- Located on Historic Richmond Highway (Route 1)
- Dense Daytime Population (64,000) within 3 Miles
- Immediate Neighbor to James River Villas | $2.5 million in Capital Improvements Performed on Site by New Owner Since 2018
Listing Price: $3,035,000
Cap Rate
7.50%
Gross SF
19,251
Rentable SF
19,251
Price/Gross SF
$157.65
Lot Size
1.29 acres
Year Built
1949
Investment Highlights
- 19,250 Square Foot Retail Center
- 95% Leased I 7 Tenants | 9 Units | 1,000 SF Still Available
- Renovation Completed in 2024 | New Roof, Plumbing, Windows, Doors, HVAC Units
- All Brand New Leases Executed since 2023
- Value-Add Potential | Three (3) Short Term Leases Expire 2026-2027 | Add Reimbursements to All Leases
- Located on Historic Richmond Highway (Route 1)
- Dense Daytime Population (64,000) within 3 Miles
- Immediate Neighbor to James River Villas | $2.5 million in Capital Improvements Performed on Site by New Owner Since 2018
Investment Overview
Marcus & Millichap is pleased to present for sale a 19,250 square foot retail strip center located in Richmond, Virginia. The subject property, James River Center, is 95-percent leased with all brand new leases executed in 2023.