321 W 7th St - Restaurant FOR SALE


Richmond, VA 23224
$4,000,000 USD
804-409-3657
321 W 7th St, Richmond, VA for Sale
$4,000,000 USD
Restaurant - FOR SALE
1/22
null | Request Cap Rate

321 W 7th St
Richmond, VA 23224


HIGHLIGHTS

  • Over 1,600 planned and existing multifamily units within a 1/4 mile radius.
  • Outstanding multi-family or hotel redevelopment opportunity that is equally attractive to an owner/occupant or a 1031 exchange buyer.
  • An astute entrepreneur could install their own restaurant or brewery concept here with success due to the surrounding residential density.
  • Seamless access to Interstate 95, and thus all points of Richmond via the Maury St roundabout.

OVERVIEW

Opportunity to purchase one of the most iconic pieces of real estate in Richmond's Manchester Submarket. Legend Brewing Company has operated out of the site for years with success, but ownership has decided to focus on other facets of the beer industry and has put the taproom up for sale. This site will be attractive to multifamily and hotel developers looking to take advantage of Richmond's robust renter demand and resulting low vacancy, fueled by the area's strong business environment. On the flip side, it is entirely possible that this site will be most attractive to an entrepreneur hoping to take advantage of the steady stream of customers provided by the over 1,600 apartment units within a 1/4 mile radius. With slight modifications, the existing building is essentially turn key for a variety of restaurant, brewery and entertainment uses.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$200 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Legend Brewing

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

undefined, Freestanding, Showroom

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

CROSS STREETS

McDonough

LAND ACRES

0.98 AC

LAND SF

42,897 SF

ZONING

B-7

APN/PARCEL ID

S000-0015-001

ASK ABOUT THIS PROPERTY

Bruce MilamBruce Commercial Realty, LLCMore Info
804-409-3657

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Bruce MilamBruce Commercial Realty, LLCMore Info
804-409-3657

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