821 W Broad St
Richmond, VA 23220
Retail Property For Sale

VCU central!!! Looking for an investment opportunity near VCU for both living AND work with a truly walkable location? 821 W Broad has it all with an incredible location within VCU’s thriving urban campus. This property offers a stable investment with value-add potential through rental upside and unit mix repositioning-- or an attractive owner-occupant opportunity with cash flow and minimal management. The building is a mixed use 2 story 4,000 SF triplex, comprised of two (2) residential units and an 800 SF commercial retail space fronting W Broad St which provides shared access for all tenants to a 2,000 SF full basement. The first floor commercial unit has been the residence of a locally owned barbershop for almost 60 years and offers a beautiful retail storefront. The 1 bedroom studio apartment is also located on the 1st floor, accessible via private rear entrance. There is also a flex ancillary storage space off the rear 1st floor lobby, currently leased by the 2nd floor tenant, which could be re-allocated to either the 1st floor commercial space or the studio. The entire 2nd floor is comprised of a renovated modern apartment with open layout, atrium, high ceilings, maple floors, and custom built-in’s and finishes, designed by local architect, Charles A. Aquino. The 2nd floor apartment also enjoys virtually exclusive access to a private rear patio/courtyard. The original elevator shaft, located at the rear of the building, is still in place and could be an opportunity for re-installation or the chance to recapture rentable square footage on both the 1st and 2nd floors. Just steps away from the VCU Art Depot, the Institute for Contemporary Art, and the Segal Center, the property is an easy walk to multiple local establishments and national chain restaurants, local retail and entertainment venues, the much anticipated Whole Foods grocery on Broad St, and a quick trip to almost any neighborhood in the city via the City’s new Bus Rapit Transit (BRT) system, “the Pulse”. With so many great amenities within walking distance, the property also provides two (2) off street parking spaces. This is a unique opportunity to own and occupy a beautiful classic storefront on Broad Street!