321 W 7th St - Restaurant FOR SALE


Richmond, VA 23224- Old Town Manchester
$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
Old Town Manchester


HIGHLIGHTS

  • Multi-family or hotel redevelopment opportunity that's equally attractive to a developer or 1031 Exchange buyer within the Tax Opportunity Zoning
  • Seamless access to downtown Richmond via the Manchester Bridge, one block west of the site.
  • Access to four public streets and all utilities on site.
  • The existing restaurant is ready for an occupant; the Legend Beer brand can be purchased separately if the buyer would like to be in the beer business
  • Zoned B-7 for 220 apartments by-right!
  • Easy access to the Financial District, the State Capitol Building, the VCU Medical Center, VCU Main Campus, and CoStar.

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

2

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 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.