Renovated Retail
For Sale
$368,000
1921 W Cary St, Richmond, VA 23220
Ground-floor space with display windows, natural light, and flexibility for retail, service, office, or boutique use.
Property Size983 SF
Price / SF$374.36
Days on Market87
Property Features for 1921 W Cary St
General Information
Standard status
Active
Size
983 SF
Additional Details
Floor
Ground
Building Details
Year Built
2006
Listing Agency:
One South Commercial LLC
Listed By:
Ann Schweitzer · License #0225211714
(434) 981-3146
Source:
Riverfoxrealty
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 5 at 10:41PM
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.
Located at 1921 W Cary Street, this 983-square-foot ground-floor storefront was renovated with a clean, contemporary interior and an efficient layout. Large display windows bring in natural light and create a clear street presence. The space is suited to retail, personal service, office, and boutique commercial uses, offering a practical setting for a range of business concepts.
The property sits in Richmond’s Fan District along W Cary Street, surrounded by locally owned businesses including Shyndigz, Shyndigz Market, Nate’s Bagels, and Fancy Biscuit. The Visual Arts Center is a little over one block away, while pedestrian activity is generated by neighborhood residents, VCU students, and visitors. The building was constructed in 2006.
The property sits in Richmond’s Fan District along W Cary Street, surrounded by locally owned businesses including Shyndigz, Shyndigz Market, Nate’s Bagels, and Fancy Biscuit. The Visual Arts Center is a little over one block away, while pedestrian activity is generated by neighborhood residents, VCU students, and visitors. The building was constructed in 2006.
Key Highlights
- 983 SF renovated ground‑floor storefront
- Large display windows with abundant natural light
- Efficient layout adaptable to retail, personal service, office, or boutique commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,729
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,580
$214.6K
Cap Rate 7%
$153,271
$153.3K
Cap Rate 9%
$119,211
$119.2K
Market Conditions
NOI Build-Up for 983 SF
Gross rent
$16.8K $17.04/SF
− Vacancy
−$1.4K −$1.45/SF
EGI
$15.3K $15.59/SF
− OpEx
−$4.6K −$4.68/SF
NOI
$10.7K $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%
$214,580
Cap Rate 7%
$153,271
Cap Rate 9%
$119,211
Alternative Uses
Best Use
Retail
$153.3K
$134.1K – $178.8K
NOI $10,729 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.1K
$198.7K – $265.0K
NOI $15,897 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,656
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor space with display windows, natural light, and flexibility for retail, service, office, or boutique use.
Where is this storefront property located?
The property is located at 1921 W Cary St Richmond, VA.
What is the asking price?
The asking price for this property is $368,000.
What are key features of this property?
This property features: 983 SF renovated ground‑floor storefront; Large display windows with abundant natural light; Efficient layout adaptable to retail, personal service, office, or boutique commercial use
