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402 1/2 N 2nd St 2,700 SF 100% Leased Retail Building Richmond, VA 23219 $899,950 ($333.31/SF) 8.10% Cap Rate
Investment Highlights
- 8.1% Cap Rate
- 4% Annual Income Increases.
- Investment or Future Owner-Occupant.
- Apartment over Retail.
- Jackson Ward near Convention Center & VCU Hospital.
- Includes Basement.
Executive Summary
2nd Gen Fully-Equipped Bakery/Coffee Shop with Sidewalk Seating, Studio & Apartment. Retail Space (Ground Floor): ±1,750 SF, Retail Basement: ±1,695 SF and Apartment: ±975 SF. Apartment highlights include 2 bed/1 bath configuration with washer/dryer included. There is a small room that could be used as an office or a very large walk-in closet.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,700 SF
Building Class
C
Year Built
1910
Price
$899,950
Price Per SF
$333.31
Cap Rate
8.10%
NOI
$72,896
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.49
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
B-4 - Central Business District
Frontage
19’ on 2nd St
Amenities
- Air Conditioning
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (85)
Nearby Major Retailers
Property Taxes
| Parcel Number | N000-0061-019 | Improvements Assessment | $268,000 |
| Land Assessment | $94,000 | Total Assessment | $362,000 |
Property Taxes
Parcel Number
N000-0061-019
Land Assessment
$94,000
Improvements Assessment
$268,000
Total Assessment
$362,000
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402 1/2 N 2nd St
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