Mixed-Use Building with Street-Level
For Sale
$1,750,000
1713 E Main Street, Richmond, VA 23223
Mixed-use property with ground-level restaurant/bar-ready space and upper-level units for residential, office, or short-term rental use.
Property Size7,216 SF
Price / SF$242.52
Days on Market178
Property Features for 1713 E Main Street
General Information
Standard status
Active
Size
7,216 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Amenities
Central Air
3
City Road.
Building Details
Year Built
1946
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Shadonna Bethel
(804) 432-6283
Source:
Xome
Added: Mar 16
Changed: Sep 8
Last Checked: Sep 7 at 2:56PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This mixed-use building at 1713 E Main St, Richmond, VA includes street-level commercial space and additional upper-level space for income-producing use. The ground floor is described as suitable for a restaurant, bar, café, or retail concept, with strong street presence along East Main Street.
The upper level is positioned to support residential, office, or short-term rental use, creating flexibility for multiple revenue streams within the same asset.
The property is presented as a turn-key or value-add opportunity within the Shockoe Bottom district, offering a combination of commercial frontage and adaptable space above for different operating or leasing arrangements.
The upper level is positioned to support residential, office, or short-term rental use, creating flexibility for multiple revenue streams within the same asset.
The property is presented as a turn-key or value-add opportunity within the Shockoe Bottom district, offering a combination of commercial frontage and adaptable space above for different operating or leasing arrangements.
Key Highlights
- Mixed‑use property at 1713 E. Main Street in Richmond’s Shockoe Bottom district
- Ground‑level commercial space is suited for a restaurant, bar, café, or retail concept
- Upper‑level space can be used for residential, office, or short‑term rental to generate additional income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,617
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,872,340
$1.9M
Cap Rate 7%
$1,337,386
$1.3M
Cap Rate 9%
$1,040,189
$1.0M
Market Conditions
NOI Build-Up for 7,216 SF
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.
Gross rent
$134.2K $18.60/SF
− Vacancy
−$9.4K −$1.30/SF
EGI
$124.8K $17.30/SF
− OpEx
−$31.2K −$4.32/SF
NOI
$93.6K $12.97/SF
Area
Richmond, VA
Vacancy
7.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,872,340
Cap Rate 7%
$1,337,386
Cap Rate 9%
$1,040,189
Alternative Uses
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,617 @ 7.0% cap · market cap 5.35%
Second Best
Mixed Use
$1.29M
$1.13M – $1.50M
NOI $90,110 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,700 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 23223, VA
51,960
Population
27,141
Households
1.9
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
16.7 sq mi
ZIP Area
3,111
Density / Sq Mi
$56,518
Median Household Income
$39,828
Median Earnings
$1,224
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Retail in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with ground-level restaurant/bar-ready space and upper-level units for residential, office, or short-term rental use.
Where is this mixed-use property located?
The property is located at 1713 E Main Street Richmond, VA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Mixed‑use property at 1713 E. Main Street in Richmond’s Shockoe Bottom district; Ground‑level commercial space is suited for a restaurant, bar, café, or retail concept; Upper‑level space can be used for residential, office, or short‑term rental to generate additional income
