VCU Area Multifamily
1109-1111 W Franklin St Richmond, VA
1109-1111 W Franklin St, Richmond, VA, 00000
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For Sale
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Multifamily building in VCU area with onsite parking.
Property Size8,008 SF
Lot Size0.93 Acres
Price / SF$161.71
Days on Market985
Property Features for 1109-1111 W Franklin St
General Information
- Standard status
- Active
- Size
- 8,008 SF
- Lot size
- 0.93 Acres
- Property subtype
- MULTIFAMILY
Listing Agency
S.L. Nusbaum Realty Co - Corporate
(804) 678-8816
Listed by
Andrew Pegalis · License #0225205935
(804) 678-8816
Source
Moodyscre
Added: Nov 8, 2023 Checked: Jul 19 at 5:30 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of S.L. Nusbaum Realty Co - Corporate
Investment Insights
Based on property information with market context.
This multifamily building is located in the VCU area and features onsite parking. The property has a new roof and may qualify for Historic Tax Credits. The building has a size of 8,008 square feet.
Key Highlights
- Prime VCU location
- Onsite parking
- New roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $190.3k | $23.76 |
| − Vacancy | −$9.9k | −$1.24 |
| EGI | $180.4k | $22.52 |
| − OpEx | −$81.2k | −$10.14 |
| NOI | $99.2k | $12.39 |
8,008 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,207 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,508 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily building in VCU area with onsite parking.
Where is this apartment building located?
The property is located at 1109-1111 W Franklin St Richmond, VA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Prime VCU location; Onsite parking; New roof
