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Fan District Mixed-Use Building 2523 W Main St 2,394 SF 100% Leased Retail Building Richmond, VA 23220 $775,000 ($323.73/SF)
Investment Highlights
- 100% occupied
- 2020 Renovation
- Historic Fan District
- 2,394 SF
- UB zoning
Executive Summary
One South Commercial is pleased to present the exclusive listing for 2523 W Main St in the Historic Fan District. This listing presents a rare opportunity to purchase a building with a commercial storefront and a residential unit at 2523 W Main St. The space is currently under a multi-year lease agreement to restaurant Cocky Rooster. A beautiful 2-bedroom apartment is located on the second floor. The building was constructed in 1920 and renovated extensively in 2020. Improvements include a new 5-ton HVAC unit, paint, refinished hardwood flooring, new kitchen, and new windows.
This location is excellent for commercial and residential space. It is located in the heart of the Historic Fan District within walking distance to Carytown, Byrd Park, the commercial corridors of Robinson St, Main Street, and the Virginia Museum of Fine Arts. 2523 W Main St is situated in one of the most dynamic neighborhood commercial corridors in Richmond. This listing is surrounded by robust residential areas with favorable demographics to support the mixed-use building. It provides an excellent opportunity for a buyer looking for an investment opportunity in the Historic Fan District.
This location is excellent for commercial and residential space. It is located in the heart of the Historic Fan District within walking distance to Carytown, Byrd Park, the commercial corridors of Robinson St, Main Street, and the Virginia Museum of Fine Arts. 2523 W Main St is situated in one of the most dynamic neighborhood commercial corridors in Richmond. This listing is surrounded by robust residential areas with favorable demographics to support the mixed-use building. It provides an excellent opportunity for a buyer looking for an investment opportunity in the Historic Fan District.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,394 SF
Building Class
C
Year Built/Renovated
1984/2020
Price
$775,000
Price Per SF
$323.73
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.79
Lot Size
0.07 AC
Zoning
UB - Urban Business District
Parking
2 Spaces (0.84 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Signage
- Accent Lighting
- Air Conditioning
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | W000-1117-003 | Improvements Assessment | $308,000 |
| Land Assessment | $243,000 | Total Assessment | $551,000 |
Property Taxes
Parcel Number
W000-1117-003
Land Assessment
$243,000
Improvements Assessment
$308,000
Total Assessment
$551,000
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Fan District Mixed-Use Building | 2523 W Main St