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Renovated Live/Work Opportunity 1521 Hull St 2,903 SF 100% Leased Retail Building Richmond, VA 23224 $479,000 ($165.00/SF)
Investment Highlights
- Renovated historic duplex
- Off street parking
- Flexible B-5 zoning
- 112 apartment units under construction on the same block
Executive Summary
Renovated mixed use investment with value add opportunity on the up-and-coming 1500 block of Hull Street!
1521 Hull is a 2,903 SF 2 story renovated historic duplex with a highly visible retail storefront studio on the ground floor and a beautiful modern 2 bed/2bath apartment on the 2nd floor.
This dynamic offering has many unique historic accents and modern design features including original post and beam detail, corrugated metal wainscoting, original exposed brick walls, floor to ceiling tile baths, 10’+ ceilings and interior glass walls. Additionally, the property includes a unique outdoor space featuring a spacious rear deck for the apartment, rear fenced yard, and a shipping container outbuilding, adding to the property’s industrial vibe while providing plenty of additional portage on site. There is also ample off-street parking and ample room to potentially expand the building footprint. This offering is ideal as a live/work opportunity but is also an excellent entry level investment opportunity in one of Richmond’s fastest growing submarkets.
Located in desirable B-5 zoning district, the ground floor storefront allows a range of uses which makes it ideal for production space, creative office, or a retail boutique. With Manchester’s vibrant revitalization continuing to roar down Hull Street, including 112 apartment units under construction on the same block, this very “Dwell” like offering provides an excellent window to get in on the ground floor for both owner occupants and investors alike!
1521 Hull is a 2,903 SF 2 story renovated historic duplex with a highly visible retail storefront studio on the ground floor and a beautiful modern 2 bed/2bath apartment on the 2nd floor.
This dynamic offering has many unique historic accents and modern design features including original post and beam detail, corrugated metal wainscoting, original exposed brick walls, floor to ceiling tile baths, 10’+ ceilings and interior glass walls. Additionally, the property includes a unique outdoor space featuring a spacious rear deck for the apartment, rear fenced yard, and a shipping container outbuilding, adding to the property’s industrial vibe while providing plenty of additional portage on site. There is also ample off-street parking and ample room to potentially expand the building footprint. This offering is ideal as a live/work opportunity but is also an excellent entry level investment opportunity in one of Richmond’s fastest growing submarkets.
Located in desirable B-5 zoning district, the ground floor storefront allows a range of uses which makes it ideal for production space, creative office, or a retail boutique. With Manchester’s vibrant revitalization continuing to roar down Hull Street, including 112 apartment units under construction on the same block, this very “Dwell” like offering provides an excellent window to get in on the ground floor for both owner occupants and investors alike!
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,903 SF
Building Class
C
Year Built
1920
Price
$479,000
Price Per SF
$165.00
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.74
Lot Size
0.09 AC
Opportunity Zone
Yes
Zoning
B-5
Frontage
25’ on Hull St
Amenities
- Bus Line
- Signage
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | S000-0197-024 | Improvements Assessment | $214,000 |
| Land Assessment | $121,000 | Total Assessment | $335,000 |
Property Taxes
Parcel Number
S000-0197-024
Land Assessment
$121,000
Improvements Assessment
$214,000
Total Assessment
$335,000
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Renovated Live/Work Opportunity | 1521 Hull St
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