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228 W. Broad Street 228 W Broad St 3 Unit Apartment Building $1,100,000 ($366,667/Unit) 5.94% Cap Rate Richmond, VA 23220

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Investment Highlights

Stabilized asset with good current tenants and building condition.
Management has opportunity to push rents from current levels to market.

Great location in Richmond's Downtown Art's District; A downtown area with shops, bars, restaurants, hotels, art galleries and offices.
Proximate to VCU Medical Center and Central Business District.

Executive Summary

Mixed-Use asset with one retail suite and three (3) apartments on the second and third floors. Stabilized rent roll. Art Gallery tenant is entering over twenty four years
of tenancy. Room to push rents to market on apartment renewals and commercial lease has 5% increases year over year. Great location in VCU
submarket and Venture Richmond Arts District. Excellent condition with recent renovation of apartment one.

Offering_Memorandum__branded 5.19.26

floor plans.pdf2

Property Facts

Price	$1,100,000	Building Class	C
Price Per Unit	$366,667	Lot Size	0.06 AC
Sale Type	Investment	Building Size	5,140 SF
Cap Rate	5.94%	Average Occupancy	100%
No. Units	3	No. Stories	3
Property Type	Multifamily	Year Built	1915
Property Subtype	Apartment General Retail Storefront Retail/Residential	Parking Ratio	0.58/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	B-4 Central business - Central Business District

Price	$1,100,000
Price Per Unit	$366,667
Sale Type	Investment
Cap Rate	5.94%
No. Units	3
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.06 AC
Building Size	5,140 SF
Average Occupancy	100%
No. Stories	3
Year Built	1915
Parking Ratio	0.58/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	B-4 Central business - Central Business District