Pending
14 W Broad St
Richmond VA, 23220
$2,595,000
$118.84 per sqft
Pending
21,836 sqft
Commercial
Built in 1917
MARK TO MARKET OPPORTUNITY -There is an opportunity to capture a $300+ per unit rent increase by aligning current rents with market rates in new or renovated multifamily properties in downtown Richmond.
STRONG COMMERCIAL TENANCY - The property comes with an established commercial lease with a tenant that has been in place since 2013 featuring above-market annual rent increases of 7%.
RECENT CAPITAL INVESTMENT - Seller recently painted entire facade and continues to be an excellent steward of the property.
EXCELLENT SUBMARKET DEMOGRAPHICS -Jackson Ward is a prime area for capital investment and price appreciation, supported by job growth and excellent demographic trends.
UNBEATABLE MOBILITY - The property is on the GRTC Pulse bus line and is walkable to work, school, and leisure destinations.
2419080
MLSⓇ ID
July 21, 2024
Listed
August 23, 2024
Updated
Map
14 W Broad St
Richmond VA, 23220
Interior Features
Total Stories
3
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Lot Size
0.13 Acres
Lot Features
Level
Roof
Flat
Sewer
Public Sewer
Other Property Details
Area Name
10 - Richmond
Days on Market
62
Garage
No
View
No
County
Richmond City
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
|---|---|---|
8/6/2024 | Pending | — |
Listed by One South Commercial LLC, Ryan Rilee, (804) 690-1482
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listings are ©2024 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.
Date last updated: 8/23/2024