100-102 N Lombardy St - Storefront Retail/Residential FOR SALE


Richmond, VA 23220
$1,599,000 USD
804-594-5870
100-102 N Lombardy St, Richmond, VA for Sale
$1,599,000 USD
Storefront Retail/Residential - FOR SALE
1/40
null | 6.3% Cap Rate

100-102 N Lombardy St
Richmond, VA 23220


HIGHLIGHTS

  • High Demand Location in The Fan District
  • Nearby Virginia Commonwealth University with Student rental needs
  • Minimal effort and maintenance with strong income from laundromat business

OVERVIEW

Net Annual Income $100,665. Remarkable, mixed-use property in the heart of the Fan District located at the corner of Lombardy Street and Floyd Avenue. Owner will consider owner financing the laundromat business, valued at $300,000. Property consisting of cash-flowing laundromat (commercial unit) and 3 residential apartments. Laundromat business and assets can be purchase separately, or with the sale of the real property. Machines are new & utilize the Laundry Boss platform. Purchaser will have the option to continue the business or redevelop. Well maintained and renovated apartment units: Luxurious, 1st level owner's suite (APT 3) consists of hardwood floors, granite kitchen counter tops, and in-unit laundry. 1 Bath,1-BDRM/Studio unit (APT 1) with LVP flooring and walk-in closet off en suite. Large, second-level 3 BDRM 2 full bath unit with newly renovated kitchen, LVP floors and rooftop deck. All utilities for the laundromat are separately metered, residential units share metering for water only and are paid by the landlord. Additionally, a 1,200 sq ft storage room is located at the rear of the first level (not included in any unit's sq ft measurement) & accessible only by the landlord. Unique opportunity combines option to continue a low-involvement business and passive real estate investment. Laundromat business valued at $300,000. Real Property valued at $1,299,000.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$341 USD /SF

CAP RATE

6.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1893

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

R-6

APN/PARCEL ID

W000-0662-025

ASK ABOUT THIS PROPERTY

Mike MorrowLiz Moore and AssociatesMore Info
804-594-5870

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Mike MorrowLiz Moore and AssociatesMore Info
804-594-5870

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.