Fully Leased Mixed-Use
For Sale
Contact for pricing
1600 BROOK RD, Richmond, VA 23220
Fully leased mixed-use building with ground-floor restaurant and retail, plus a second-floor walk-up office tenant.
Property Size6,620 SF
Price / SF$279.46
Days on Market172
Property Features for 1600 BROOK RD
General Information
Standard status
Active
Size
6,620 SF
Class
A
Total Parking Spaces
25
Property subtype
Retail, Office
Zoning
M-1
Occupancy
100%
Lease Type
NNN
Additional Details
Business Included
Yes
Highway Access
Yes
Office Units
1
Building Details
Year Built
1900
Buildings
1
Stories
2
Units
25
Tenancy
Multi
Listing Agency:
Seven Hills Holdings
Listed By:
Helen Blair · License #0000
Source:
Crexi
Added: May 1
Changed: Oct 13
Last Checked: Oct 19 at 4:11AM
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 Seven Hills Holdings
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Investment Insights
Based on property information with market context.
Located at 1600 Brook Rd in Richmond, this 6,620-square-foot mixed-use commercial property is fully tenant occupied and 100% leased. The building features ground-level space anchored by a restaurant user and a retail user, with a second-floor walk-up Class A office tenant.
The property sits within the ChamberBrook corridor and is described as being in close walking proximity to Virginia Union University (VUU), Hovey Field, and the VCU Monroe Park campus. Additional nearby residential density includes over 1,200 apartment units, supporting consistent daily demand. The corridor serves as a connector between Downtown and Northside and is noted to be conveniently near I-95 and the Downtown corridor. The current tenancy is supported by long-term leases, creating stable occupancy across the diversified tenant mix.
The property sits within the ChamberBrook corridor and is described as being in close walking proximity to Virginia Union University (VUU), Hovey Field, and the VCU Monroe Park campus. Additional nearby residential density includes over 1,200 apartment units, supporting consistent daily demand. The corridor serves as a connector between Downtown and Northside and is noted to be conveniently near I-95 and the Downtown corridor. The current tenancy is supported by long-term leases, creating stable occupancy across the diversified tenant mix.
Key Highlights
- 6,620 SF mixed‑use commercial building built in 1900
- 100% leased and fully tenant occupied with long‑term leases and vetted tenants
- Ground floor includes restaurant and retail tenants, anchored by two active users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,005
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,780,100
$1.8M
Cap Rate 7%
$1,271,500
$1.3M
Cap Rate 9%
$988,944
$988.9K
Market Conditions
NOI Build-Up for 6,620 SF
Gross rent
$140.6K $21.24/SF
− Vacancy
−$21.9K −$3.31/SF
EGI
$118.7K $17.93/SF
− OpEx
−$29.7K −$4.48/SF
NOI
$89.0K $13.44/SF
Area
Richmond, VA
Vacancy
15.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,780,100
Cap Rate 7%
$1,271,500
Cap Rate 9%
$988,944
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $89,005 @ 7.0% cap · market cap 4.81%
Second Best
Mixed Use
$1.18M
$1.03M – $1.38M
NOI $82,667 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,061 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Richmond, VA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use building with ground-floor restaurant and retail, plus a second-floor walk-up office tenant.
Where is this mixed-use property located?
The property is located at 1600 BROOK RD Richmond, VA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 6,620 SF mixed‑use commercial building built in 1900; 100% leased and fully tenant occupied with long‑term leases and vetted tenants; Ground floor includes restaurant and retail tenants, anchored by two active users
