2405-2413 Jefferson Davis Hwy - Storefront FOR SALE


Richmond, VA 23234
$3,035,000 USD
2405-2413 Jefferson Davis Hwy, Richmond, VA for Sale
$3,035,000 USD
Storefront - FOR SALE
1/4
null | 7.73% Cap Rate

2405-2413 Jefferson Davis Hwy
Richmond, VA 23234


HIGHLIGHTS

  • 19,250 Square Foot Retail Center
  • 95% Leased I 7 Tenants | 9 Units
  • Complete Renovation Completed in 2024 | New Roof, Plumbing, Windows, Doors, HVAC Units
  • All Brand New Leases Executed since 2023
  • Value-Add Potential | Three (3) Short Term Leases Expire 2026-2027
  • Located on Historic Richmond Highway (Route 1)

OVERVIEW

The James River Center has been recently renovated and is now 95% leased, with new Multifamily and Richmond Fire development right next door. Foot traffic will increase over the next few years in an already dense 3 mile radius of 64,000 day-time residents. Most tenants have new leases in the last twelve months that include automatic increases, and the available spaces were absorbed quickly. Recent renovations will keep maintenance expenses low, as well as no landscaping costs. James River presents an opportunity for the next owner to deploy a value add strategy and capture new upside in just a few years. Just Four miles from downtown Richmond, Three miles from I-95 and Two miles from the Manchester Neighborhood, one of Richmond's fastest growing residential and commercial areas.

FOR SALE DETAILS

PRICE

$3,035,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

7.73%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

James River Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

CROSS STREETS

Jefferson Davis Highway

LAND ACRES

1.29 AC

LAND SF

56,192 SF

ZONING

B-3

APN/PARCEL ID

S008-0275-018

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