Mixed-Use Building with
1814 E Franklin Street Richmond, VA 23223
1814 E Franklin Street, Richmond, VA, 23223
$825,000
For Sale
$825,000
Ground-floor retail with large storefront windows plus a fully renovated two-bedroom, two-bath apartment upstairs.
Property Size3,784 SF
Price / SF$218.02
Days on Market399
Property Features for 1814 E Franklin Street
General Information
- Standard status
- Active
- Size
- 3,784 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1919
Listing agency
One South Commercial LLC
(804) 248-2561
Listed by
Lory Markham · License #0225227308
(804) 248-2561
Source
Xome
Added: Jun 18, 2025 Updated: Jul 21 at 12:16PM Checked: Jul 21 at 12:16PM
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 One South Commercial LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes a ground-level commercial space with large storefront windows facing East Franklin Street, providing prominent street visibility. The second floor has been completely renovated and features a two-bedroom, two-bath apartment with an open floor plan. Interior finishes include exposed brick walls and hardwood flooring, with large windows designed to bring in natural light.
1814 E Franklin Street is positioned in Shockoe Bottom, one of Richmond’s oldest and most historic neighborhoods, which the remarks describe as having undergone revitalization and serving as a business and entertainment district. The property is also described as being within walking distance of Main Street Station and the 17th St Farmer’s Market.
For owners or investors looking for a building that combines street-facing retail frontage with a renovated residential unit above, this configuration offers a straightforward live-and-lease or income-oriented setup based on the on-site mix described in the listing.
1814 E Franklin Street is positioned in Shockoe Bottom, one of Richmond’s oldest and most historic neighborhoods, which the remarks describe as having undergone revitalization and serving as a business and entertainment district. The property is also described as being within walking distance of Main Street Station and the 17th St Farmer’s Market.
For owners or investors looking for a building that combines street-facing retail frontage with a renovated residential unit above, this configuration offers a straightforward live-and-lease or income-oriented setup based on the on-site mix described in the listing.
Key Highlights
- Ground‑level commercial space with large storefront windows facing East Franklin Street
- Fully renovated second‑floor apartment with 2 bedrooms and 2 bathrooms
- Second‑floor unit features an open floor plan, exposed brick walls, and hardwood flooring
Local Financial Insights For Mixed Use
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 | $84.0k | $22.20 |
| − Vacancy | −$8.4k | −$2.22 |
| EGI | $75.6k | $19.98 |
| − OpEx | −$28.4k | −$7.49 |
| NOI | $47.3k | $12.49 |
3,784 SF · lease $22.20/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$675.0K
$590.7K – $787.6K
NOI $47,253 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$669.7K
$586.0K – $781.3K
NOI $46,878 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$874.2K
$765.0K – $1.02M
NOI $61,196 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jeff S Saxman ...
Photography Service
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FAQs
What type of property is this?
Mixed-use property - Ground-floor retail with large storefront windows plus a fully renovated two-bedroom, two-bath apartment upstairs.
Where is this mixed-use property located?
The property is located at 1814 E Franklin Street Richmond, VA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Ground‑level commercial space with large storefront windows facing East Franklin Street; Fully renovated second‑floor apartment with 2 bedrooms and 2 bathrooms; Second‑floor unit features an open floor plan, exposed brick walls, and hardwood flooring
