Renovated Storefront
For Sale
$1,000,000
1427 Hull St, Richmond, VA 23224
Flexible dark-shell commercial space with upgraded building systems and exposed original brick interiors.
Property Size7,750 SF
Price / SF$129.03
Days on Market79
Property Features for 1427 Hull St
General Information
Standard status
Active
Size
7,750 SF
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Capital Real Estate Services
Listed By:
Brent Samuel · License #0225232736
Source:
Onedreamrealty
Added: Jul 28
Changed: Oct 4
Last Checked: Oct 13 at 1:01AM
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 Capital Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1920, this approximately 7,750-square-foot storefront property is delivered as a clean commercial dark shell with exposed original brick. The interior is positioned for buyer-directed buildout, while additional basement space provides storage or operational support beyond the primary square footage.
Recent work includes a TPO roof, 400-amp three-phase electrical service, a rooftop natural gas generator with automatic transfer switch, reinforced structural flooring using steel C-channel beams, and a new basement sump pump system. The improvements were completed by licensed contractors and inspected by the City of Richmond.
The property is within a historic district and may qualify for approximately a 40% historic tax credit on eligible renovation or buildout expenses. It is located at 1427 Hull St in Richmond’s Manchester district, with access to Downtown Richmond, the James River, and major transportation routes.
Recent work includes a TPO roof, 400-amp three-phase electrical service, a rooftop natural gas generator with automatic transfer switch, reinforced structural flooring using steel C-channel beams, and a new basement sump pump system. The improvements were completed by licensed contractors and inspected by the City of Richmond.
The property is within a historic district and may qualify for approximately a 40% historic tax credit on eligible renovation or buildout expenses. It is located at 1427 Hull St in Richmond’s Manchester district, with access to Downtown Richmond, the James River, and major transportation routes.
Key Highlights
- Approximately 7,750 SF storefront property
- 1920 construction with exposed original brick interior
- New TPO roof and 400‑amp three‑phase electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,584
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,691,680
$1.7M
Cap Rate 7%
$1,208,343
$1.2M
Cap Rate 9%
$939,822
$939.8K
Market Conditions
NOI Build-Up for 7,750 SF
Gross rent
$132.1K $17.04/SF
− Vacancy
−$11.2K −$1.45/SF
EGI
$120.8K $15.59/SF
− OpEx
−$36.3K −$4.68/SF
NOI
$84.6K $10.91/SF
Area
Richmond, VA
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,691,680
Cap Rate 7%
$1,208,343
Cap Rate 9%
$939,822
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,584 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,336 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible dark-shell commercial space with upgraded building systems and exposed original brick interiors.
Where is this storefront property located?
The property is located at 1427 Hull St Richmond, VA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Approximately 7,750 SF storefront property; 1920 construction with exposed original brick interior; New TPO roof and 400‑amp three‑phase electrical service
