172 E Belt Blvd - Fast Food FOR SALE


Richmond, VA 23224
$2,000,000 USD
818-823-0832
172 E Belt Blvd, Richmond, VA for Sale
$2,000,000 USD
Fast Food - FOR SALE
1/7
null | Request Cap Rate

172 E Belt Blvd
Richmond, VA 23224


HIGHLIGHTS

  • Prime Opportunity for Owner-User / Investor: dark Wendy’s presents a unique chance to bring in a new operator, allowing for tailored redevelopment.
  • Attractive SBA 504 Financing: Offers low down payment, fixed-rate, long-term financing, and lower costs, making it ideal for owner-users & investors.
  • High Visibility on Major Boulevard: Located on East Belt Blvd, a key arterial road to Highway 60, with ±19,000 vehicles daily, ensuring strong traffic
  • Surrounded by established businesses and services, including nearby national tenants Save a Lot, KFC, Subway, T-Mobile, McDonald’s, Wells Fargo & more
  • Strong Local Demographics: Population of 245,749 (2023) growing to 255,294 by 2028; daytime population exceeds 339,727, ensuring strong traffic.
  • Affluent Market & Spending Power: Avg. income of $83,955; 12.4% earn over $150K; avg. retail spending is $66,123 per household in key categories.

OVERVIEW

The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present an exceptional opportunity to acquire a prime commercial property in a high-traffic location. This former Wendy’s restaurant offers a unique chance for an owner-user or investor to introduce a new operator, allowing for redevelopment or rebranding tailored to their vision. Strategically positioned on East Belt Boulevard, a major arterial road with direct access to Highway 60, the property benefits from exceptional visibility and exposure to approximately ±19,000 vehicles daily. This location sits within a strong commercial corridor, surrounded by national retailers such as Save a Lot, KFC, Subway, T-Mobile, McDonald’s, and Wells Fargo, fostering a robust customer base and business synergy. The property also enjoys proximity to George Wythe High School, which serves over 1,076 students and contributes to consistent foot traffic. Additionally, the surrounding area boasts strong demographics, with a total population of 245,749 within a 5-mile radius, projected to grow to 255,294 by 2028. The daytime population exceeds 339,727, further ensuring demand for retail and dining options. Affluent household income levels in the area reflect a thriving local economy, with an average household income of $83,955 and a median of $55,750. Notably, 12.4% of households earn over $150,000 annually, indicating strong consumer spending power. Retail expenditure within a 5-mile radius averages $66,123 per household, with key spending categories including housing, transportation, and food.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$797 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Prime Vacant Drive-Thru Opportunity Virginia

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Bank, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,345 SF

ZONING

B-3, Richmond City

APN/PARCEL ID

C006-0286-022

ASK ABOUT THIS PROPERTY

Ara RostamianMarcus & MillichapMore Info
818-823-0832

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Ara RostamianMarcus & MillichapMore Info
818-823-0832

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