14 W Broad Street, Richmond, VA 23220

$2,595,000
List Price
$2,595,000
Days on Market
61
MLS#
CVR-2419080
Status
PENDING
Type
Commercial
Year Built
1917
County
Richmond City
Region
10 - Richmond

Property Description

MARK TO MARKET OPPORTUNITY -There is an opportunity to capture a $300+ per unit rent increase by aligning current rents with market rates in new or renovated multifamily properties in downtown Richmond. STRONG COMMERCIAL TENANCY - The property comes with an established commercial lease with a tenant that has been in place since 2013 featuring above-market annual rent increases of 7%. RECENT CAPITAL INVESTMENT - Seller recently painted entire facade and continues to be an excellent steward of the property. EXCELLENT SUBMARKET DEMOGRAPHICS -Jackson Ward is a prime area for capital investment and price appreciation, supported by job growth and excellent demographic trends. UNBEATABLE MOBILITY - The property is on the GRTC Pulse bus line and is walkable to work, school, and leisure destinations.

Additional Information

Acres
0.13
Roof
Flat
Cooling
Central Air

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of One South Commercial LLC.

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