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349 E Belt Blvd 1,276 SF Retail Building Richmond, VA 23224 $995,000 ($779.78/SF) 4.36% Cap Rate
INVESTMENT HIGHLIGHTS
- 1276sf stand-alone retail building on 1 acre
- Enterprise Zone Incentives
- .5 mile to Interstate Access
- Zoned B3
EXECUTIVE SUMMARY
1276sf Retail Building with 2 bays on Large 1 Acre Lot, zoned B3 for General Retail Uses, such as Automotive Service, Storage, Gas, Car Wash, Convenience Store with 155' on E. Belt Blvd, located .5mi to I-64 and 4 Mi. to Downtown Richmond. This location is a designated Enterprise Zone with Incentives that include reduction of permit fees, user fees, business, professional and occupational license taxes, partial exemption from taxation of substantially rehabilitated real estate, and development tax.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,276 SF
Building Class
C
Year Built
1960
Price
$995,000
Price Per SF
$779.78
Cap Rate
4.36%
NOI
$43,416
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.04 AC
Zoning
B3 - General Business Zoning
Parking
40 Spaces (31.35 Spaces per 1,000 SF Leased)
Frontage
156’ on E Belt Blvd
AMENITIES
- Bus Line
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | C006-0154-024 | Total Assessment | $414,000 (2025) |
| Land Assessment | $332,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $82,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
C006-0154-024
Land Assessment
$332,000 (2025)
Improvements Assessment
$82,000 (2025)
Total Assessment
$414,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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349 E Belt Blvd
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