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    422 E Franklin St Richmond, VA 23219

    Pending
    For Sale
    $2,800,000

    Commercial/Industrial - Richmond, VA

    Lot size:
    0.26 Acres
    Days on Market:
    48
    Last Refresh:
    Dec 11 at 6:06 am

    Property Features for 422 E Franklin St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Exterior features
    Other
    Lot size
    0.26 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1923
    Floors in Building
    3
    Roof type
    Rubber
    Architectural style
    Other

    Long & Foster Real Estate (888) 536-0216

    Listing agent Jennie Dotts (888) 536-0216

    Listing date Oct 25, 2025

    MLS# 2526872 Listing URL

    Copyright © 2025 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Richmond Redevelopment Opportunity

    This three-story, 23,187 SF office building, constructed in 1923 for the Imperial Tobacco Co., is located in downtown Richmond. The Imperial Building, clad in limestone with grand Neoclassic entrances, anchors a prominent corner across from the Hotel John Marshall and is blocks from the State Capitol and the Riverfront. The building was renovated in 2002 and received a Golden Hammer Award. Currently, the building houses the Richmond Free Press and various businesses, and is ready to be reimagined as a residential or mixed-use property. Historic Tax Credit and Enterprise Zone incentives are available. Each floor is approximately 7,729 SF with high ceilings, large windows and abundant natural light. The main level has a lobby extending front to rear with parking below. The second floor features wood-paneled executive offices with fireplaces, a board room, conference rooms, offices and a break room. The third floor offers spacious suites and storage. The building sits on a 0.26-acre lot. The Imperial Building is located in Richmond City County, VA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McCollum at Law P.C Bankruptcy Attorney HDH Store Community Staffing Employment Agency HDH Copying & Printing ... Print Shop Richmond Free Press Newspaper Publisher

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4392306
    Latitude
    37.5414821

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    FAQs

    What type of property is this?
    Office building - Historic 23,187 SF building suitable for residential or mixed-use redevelopment.
    Where is this office building located?
    The property is located at 422 E Franklin St Richmond, VA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - Redevelopment opportunity in downtown Richmond for residential or mixed-use property.; - Historic landmark building featuring **grand Neoclassic entrances and limestone cladding.**; - Eligible for Historic Tax Credit and Enterprise Zone incentives.
    (888) 536-0216
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    422 E Franklin St Richmond, VA 23219
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    Richmond, VA 23219
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    422 E Franklin St Richmond, VA 23219
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