M-1 Zoned Retail
For Sale
$288,018
2206 East Main Street, Richmond, VA 23223
Commercial space supports retail or studio apartment use in Downtown Richmond.
Property Size1,800 SF
Price / SF$160.01
Days on Market136
Property Features for 2206 East Main Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Retail
Zoning
M-1
Listing Agency:
CBRE | Richmond
Listed By:
Matt Hamilton
(804) 401-4005
Source:
Cbre
Added: Jun 2
Changed: Oct 6
Last Checked: Oct 14 at 9:47PM
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 CBRE | Richmond
Investment Insights
Based on property information with market context.
Located at 2206 East Main Street, this approximately 1,800 SF retail space offers a flexible commercial layout with potential for retail or studio apartment use. The property is positioned in Historic Shockoe Bottom and carries M-1 zoning within Downtown Richmond.
The East Main Street setting provides a highly visible presence, while the M-1 zoning district is identified with available tax incentives. The combination of adaptable space, established urban context, and documented zoning supports consideration for both commercial and residential-oriented occupancy.
The East Main Street setting provides a highly visible presence, while the M-1 zoning district is identified with available tax incentives. The combination of adaptable space, established urban context, and documented zoning supports consideration for both commercial and residential-oriented occupancy.
Key Highlights
- ±1,800 SF of versatile space
- M‑1 zoning district with tax incentives
- Located in Historic Shockoe Bottom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,645
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,900
$392.9K
Cap Rate 7%
$280,643
$280.6K
Cap Rate 9%
$218,278
$218.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$30.7K $17.04/SF
− Vacancy
−$2.6K −$1.45/SF
EGI
$28.1K $15.59/SF
− OpEx
−$8.4K −$4.68/SF
NOI
$19.6K $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%
$392,900
Cap Rate 7%
$280,643
Cap Rate 9%
$218,278
Alternative Uses
Best Use
Retail
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.9K
$363.9K – $485.2K
NOI $29,110 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,743
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Richmond, VA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial space supports retail or studio apartment use in Downtown Richmond.
Where is this retail space located?
The property is located at 2206 East Main Street Richmond, VA.
What is the asking price?
The asking price for this property is $288,018.
What are key features of this property?
This property features: ±1,800 SF of versatile space; M‑1 zoning district with tax incentives; Located in Historic Shockoe Bottom
