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2614 W Cary St 7,808 SF 100% Leased Retail Building Richmond, VA 23220 $1,800,000 ($230.53/SF) 5.80% Cap Rate
EXECUTIVE SUMMARY
Fully Renovated Mixed-Use Investment | Established Tenants | 5.8% Cap Rate
INVESTMENT HIGHLIGHTS
5.8% Cap Rate with established tenant base generating $122,878+ projected 2026 income
100% occupied with complementary businesses: restaurant and specialty fitness facility
Fully renovated building (2016-2018): electrical, plumbing, HVAC systems completely replaced
Prime West Cary Street location with excellent visibility and high foot traffic
Lease terms through 2029 with 1% annual escalations and renewal options
Recent roof improvements (2024) - minimal capital expenditure requirements
FINANCIAL SUMMARY
List Price: $1,800,000
Building Size: 7,808 SF (approximate)
Current Occupancy: 100%
Projected 2026 Income: $122,878 with built-in annual growth
Major building systems recently renovated - reduced maintenance risk
PROPERTY FEATURES
Two-story structure with flexible commercial layouts
Striking street-facing facade with excellent visibility
Large storefront windows providing natural light
Loading capabilities with exterior access
Located in high-traffic commercial corridor
LOCATION ADVANTAGES
Bustling West Cary Street with strong pedestrian and vehicle traffic
Surrounded by prime residential neighborhoods supporting local businesses
Proximity to Carytown and VCU
Walk Score: 96 (Walker's Paradise) | Bike Score: 82 (Very Bikeable)
Established commercial district with diverse business mix
INVESTMENT BENEFITS
Turn-key passive investment opportunity
Stable, diversified income from two successful, established businesses
Conventional commercial financing available
Perfect for investors seeking predictable cash flow with growth potential
Professional tenant management relationships already established
CURRENT TENANTS
TBT El Gallo: Popular Mexican restaurant contributing to area's culinary reputation
Tequila & Deadlifts: Boutique fitness studio with dedicated member base
This fully renovated property offers investors immediate cash flow with long-term appreciation potential in one of Richmond's most dynamic commercial corridors.
For detailed financial package and private showing, contact:
Nathan Hughes, Principal Broker
Sperity Real Estate Ventures
804.349.1000
nathan@sperityventures.com
INVESTMENT HIGHLIGHTS
5.8% Cap Rate with established tenant base generating $122,878+ projected 2026 income
100% occupied with complementary businesses: restaurant and specialty fitness facility
Fully renovated building (2016-2018): electrical, plumbing, HVAC systems completely replaced
Prime West Cary Street location with excellent visibility and high foot traffic
Lease terms through 2029 with 1% annual escalations and renewal options
Recent roof improvements (2024) - minimal capital expenditure requirements
FINANCIAL SUMMARY
List Price: $1,800,000
Building Size: 7,808 SF (approximate)
Current Occupancy: 100%
Projected 2026 Income: $122,878 with built-in annual growth
Major building systems recently renovated - reduced maintenance risk
PROPERTY FEATURES
Two-story structure with flexible commercial layouts
Striking street-facing facade with excellent visibility
Large storefront windows providing natural light
Loading capabilities with exterior access
Located in high-traffic commercial corridor
LOCATION ADVANTAGES
Bustling West Cary Street with strong pedestrian and vehicle traffic
Surrounded by prime residential neighborhoods supporting local businesses
Proximity to Carytown and VCU
Walk Score: 96 (Walker's Paradise) | Bike Score: 82 (Very Bikeable)
Established commercial district with diverse business mix
INVESTMENT BENEFITS
Turn-key passive investment opportunity
Stable, diversified income from two successful, established businesses
Conventional commercial financing available
Perfect for investors seeking predictable cash flow with growth potential
Professional tenant management relationships already established
CURRENT TENANTS
TBT El Gallo: Popular Mexican restaurant contributing to area's culinary reputation
Tequila & Deadlifts: Boutique fitness studio with dedicated member base
This fully renovated property offers investors immediate cash flow with long-term appreciation potential in one of Richmond's most dynamic commercial corridors.
For detailed financial package and private showing, contact:
Nathan Hughes, Principal Broker
Sperity Real Estate Ventures
804.349.1000
nathan@sperityventures.com
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,808 SF
Building Class
C
Year Built
1900
Price
$1,800,000
Price Per SF
$230.53
Cap Rate
5.80%
NOI
$104,400
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
2 Exterior
Slab To Slab
11’
Building FAR
1.12
Lot Size
0.16 AC
Zoning
B-6 - B-6 - Business (Mixed Use)
Frontage
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- TBT El Gallo
- -
- -
- -
- -
- Tequila + Deadlifts
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| TBT El Gallo | - | - | - | - | ||
| Tequila + Deadlifts | - | - | - | - |
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | W000-1160-030 | Improvements Assessment | $903,000 |
| Land Assessment | $403,000 | Total Assessment | $1,306,000 |
PROPERTY TAXES
Parcel Number
W000-1160-030
Land Assessment
$403,000
Improvements Assessment
$903,000
Total Assessment
$1,306,000
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2614 W Cary St
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