2337-2343 W Broad St & 2340 W Grace st Retail FOR SALE


Richmond, VA
$2,750,000 USD
804-344-7140
, Richmond, VA for Sale
$2,750,000 USD
Retail - FOR SALE
1/1
null | 5.84% Cap Rate

2337-2343 W Broad St & 2340 W Grace st
Richmond, VA


HIGHLIGHTS

  • 5.2 years of WALT with annual escalations and firm term through April 2027.
  • Excellent walkability and proximity to Richmond’s most popular residential neighborhoods including the Fan, Scott’s Addition, and the Museum District
  • Over 8,400 apartment units and additional 1,500 under construction within a onemile radius of the property

OVERVIEW

Cushman & Wakefield | Thalhimer is pleased to present for sale a multi-tenant retail opportunity with future development potential in the heart of downtown Richmond. The 8,110 SF asset is comprised of two single tenant, net leased buildings situated on ±0.4 acres with a 24-space, rare off-street parking lot at the corner of West Broad Street and North Davis Avenue. An additional ±0.3 acre parking lot behind the buildings provides for another 32 spaces. Richmond staple Sally Bell’s Kitchen and Hustler Hollywood are subject to NNN leases with annual escalations with a combined WALT of 5.2 years. The Properties are advantageously positioned between two of the cities most popular neighborhoods – Scott’s Addition and the Fan District, surrounded by over 8,400 apartment units and centrally positioned in the path of the city’s commercial growth. R-48 and B-5 Zoning allow for a multitude of future development opportunities while in-place rents provide stable and increasing cash flow in the near term. Excellent demographics, a rapidly growing immediate trade area and rare undeveloped lots make for a uniquely rare opportunity in one of the most highly sought after Richmond submarkets.

ASK ABOUT THIS PROPERTY

Catharine SpanglerCushman & Wakefield | ThalhimerMore Info
804-344-7140

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Catharine SpanglerCushman & Wakefield | ThalhimerMore Info
804-344-7140

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