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1427 Hull St 7,999 SF of Office/Retail Space Available in Richmond, VA 23224
Highlights
- Located within historic district with potential 40% historic tax credit on qualifying improvements
- Prime Manchester location minutes from Downtown Richmond and the James River
- Rooftop natural gas generator with automatic transfer switch
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Ceiling
- Term
- Rental Rate
- Rent Type
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 7,999 SF | 10’ - 16’ | Negotiable | $20.00 /SF/YR $1.67 /SF/MO $159,980 /YR $13,332 /MO | Triple Net (NNN) |
1st Floor
Property Highlights ±7,500 SF commercial retail/restaurant building Additional basement space not included in main SF Approximately $245,000 in renovations completed and inspected by the City of Richmond New TPO commercial roof 400-amp three-phase electrical service Rooftop natural gas generator with automatic transfer switch Reinforced flooring with steel C-channel structural beams New basement sump pump system Exposed original brick interior Delivered as commercial dark shell ready for custom buildout Located within historic district with potential 40% historic tax credit on qualifying improvements Prime Manchester location minutes from Downtown Richmond and the James River
- Lease rate does not include utilities, property expenses or building services
- Finished Ceilings: 10’ - 16’
- Located in-line with other retail
- 40% historic tax credit on qualifying improvements
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 7,999 SF | Gross Leasable Area | 7,999 SF |
| Property Type | Retail | Year Built | 1920 |
| Property Subtype | Storefront | Parking Ratio | 0.13/1,000 SF |
| Total Space Available | 7,999 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Gross Leasable Area | 7,999 SF |
| Year Built | 1920 |
| Parking Ratio | 0.13/1,000 SF |
About the Property
Prime commercial opportunity in Richmond’s rapidly growing Manchester district. This approximately 7,500 SF retail/restaurant building has undergone approximately $445,000 in recent renovations, all completed by licensed contractors and inspected by the City of Richmond. Major improvements include a new TPO roof, upgraded 400-amp three-phase electrical service, rooftop natural gas backup generator with automatic transfer switch, reinforced structural flooring with steel C-channel beams, and a new basement sump pump system. The property is delivered as a clean commercial dark shell with exposed original brick interior, allowing a buyer to design and build out the space to suit a variety of uses including restaurant, brewery, retail, fitness, entertainment, or creative office. In addition to the main floor square footage, the building includes additional basement space not included in the primary square footage that may be used for storage, operational support, or other business needs. Located within a historic district, the property may qualify for approximately a 40% historic tax credit on eligible renovation or buildout expenses, creating a significant incentive and cost savings opportunity for a buyer completing interior improvements. Situated along the Hull Street corridor in Manchester, the property benefits from strong residential and commercial growth, with numerous nearby apartment developments, restaurants, and entertainment venues. The location offers convenient access to Downtown Richmond, the James River, and major transportation routes. This property presents a rare opportunity to acquire a large commercial building with major infrastructure upgrades in one of Richmond’s most active redevelopment areas.
- Backup Power / Generators
Nearby Major Retailers
Presented by
Capital Real Estate Services
1427 Hull St
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