Skip to main content

Mixed-Use

Historic High Street Retail in Richmond, Virginia. Mixed use with apartments

400 W Broad St, Richmond, VA 23220

Listing Price: $1,500,000

Cap Rate
4.70%
Number of Units
5
Occupancy
100.0%
Price/Unit
$300,000
Price/Gross SF
$174.83
Gross SF
8,580

Investment Overview

Good mixed use retail offering in Urban Core Richmond, Virginia. Four apartments over one 3,500 square foot retail bay with two years of term remaining on modified gross lease terms. Two one bedroom, one baths and two, two bedroom, one bath units. Apartments are need of renovation and would command rents in the $1,500 to $1,800 range. Solid location near VCU academic campus. Off-street parking for each unit. Corner location.

Investment Highlights

  • 100% Leased investment
  • Great location near new CoStar innovation center academic campus of VCU on corner of W Broad St and Belividere. Asset is located in the Arts & Entertainment District home of art galleries, hotels, etc
  • Opportunity for NOI growth through renovation and lease up of under utilized apartments.
  • Ground floor tenant is stable with two years of term remaining on lease.
  • Strong regional growth in terms of population and rents.

Exclusively Listed By

Financing By

Mixed-Use

Historic High Street Retail in Richmond, Virginia. Mixed use with apartments

Listing Price: $1,500,000

Cap Rate
4.70%
Number of Units
5
Occupancy
100.0%
Price/Unit
$300,000
Price/Gross SF
$174.83
Gross SF
8,580

Investment Highlights

  • 100% Leased investment
  • Great location near new CoStar innovation center academic campus of VCU on corner of W Broad St and Belividere. Asset is located in the Arts & Entertainment District home of art galleries, hotels, etc
  • Opportunity for NOI growth through renovation and lease up of under utilized apartments.
  • Ground floor tenant is stable with two years of term remaining on lease.
  • Strong regional growth in terms of population and rents.

Investment Overview

Good mixed use retail offering in Urban Core Richmond, Virginia. Four apartments over one 3,500 square foot retail bay with two years of term remaining on modified gross lease terms. Two one bedroom, one baths and two, two bedroom, one bath units. Apartments are need of renovation and would command rents in the $1,500 to $1,800 range. Solid location near VCU academic campus. Off-street parking for each unit. Corner location.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower