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.
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Additional Information
- Acres
- 0.13
- Roof
- Flat
- Cooling
- Central Air
Mortgage Calculator
Listing courtesy of One South Commercial LLC.
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