Property profile

217 Clay St Richmond, VA 23219

OFF-MARKET
Office buildings
Property ID
US87-0926235
3,028 SF 0.05 ac lot Built 1861
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 3,000 square foot executive office building, located at 217 E Clay St in Richmond, Virginia, presents a unique investment opportunity. Built in 1861 and renovated in 1999, this historic Jackson Ward property boasts a rich history and versatile layout. The building currently sits vacant, offering a blank canvas for a new owner. The property features a permitted B-2 zoning classification and sits on a 0.05-acre lot. The asking price is $425,000, translating to $155 per square foot. The City of Richmond has approved a conversion plan allowing for residential apartments on upper floors, provided a portion of the ground floor maintains commercial use. This adaptable space has previously housed a law office on the top two floors and various retail tenants in the raised basement, most recently a wig maker. The building's history, combined with its approved mixed-use potential and prime Richmond location (zip code 23219), makes it an attractive proposition for investors seeking a blend of historical charm and modern adaptability. The property's vacant status allows for immediate customization and tenant selection, maximizing return on investment. This is a rare chance to acquire a piece of Richmond's vibrant history and shape its future.

Property profile

Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1861
Construction TYPE NOT SPECIFIED
Total area 3,028 SF
Lot 0.05 ac (2,249 SF)
Zoning code B-2 COMMUNITY BUSINESS
APN N-000-0038-009
UPID US87-0926235

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bar & Pub Restaurant
  • Hair Salon Nail Salon
  • Law Firm

Location

217 Clay St Richmond, VA 23219-1325
Richmond metro Census 30200 RICHMOND, VA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$220k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$220k

Owner & transaction history

since 2025
1 recorded transaction
2025
$375,000

Zoning & alternative use

B-2 COMMUNITY BUSINESS · Richmond, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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