Building Details

Stories 2

Listing Agency: Sperity Real Estate Ventures Show Phone

Listed By: Nathan Hughes · License #0225084857 Show Phone

Source: Moodyscre

Added: Aug 20 Changed: Oct 2 Last Checked: Oct 15 at 2:14AM

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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 Sperity Real Estate Ventures

Investment Insights

Based on property information with market context.

This two-story storefront property contains 7,808 square feet and offers flexible commercial layouts across both levels. Large windows line the street-facing facade, bringing natural light into the interior while supporting visibility from the surrounding commercial corridor. Exterior access provides loading capability for receiving and operations.

The property is located at 2614 W Cary St in Richmond, Virginia, within a high-traffic commercial corridor. Its combination of two-story configuration, storefront presentation, and loading access supports a range of retail-oriented commercial uses.

Key Highlights

• 7,808‑square‑foot two‑story storefront property
• Flexible commercial layouts across two levels
• Large storefront windows provide natural light

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,217

Cap Rate

4.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,704,340 $1.7M

Cap Rate 7%

$1,217,386 $1.2M

Cap Rate 9%

$946,856 $946.9K

Market Conditions

NOI Build-Up for 7,808 SF

Gross rent

$133.0K $17.04/SF

− Vacancy

−$11.3K −$1.45/SF

EGI

$121.7K $15.59/SF

− OpEx

−$36.5K −$4.68/SF

NOI

$85.2K $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%

$1,704,340

Cap Rate 7%

$1,217,386

Cap Rate 9%

$946,856

Alternative Uses

Best Use

Retail

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,217 @ 7.0% cap · market cap 4.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,274 @ 7.0% cap · market cap 7.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Tequila & Deadlifts Gym & Fitness Center Rickman Therapeutics Alternative Medicine Practice First and Forever Fitness Gym & Fitness Center Serpentine Studio Hair Salon Blacksheep Brows & Beauty Medical Clinic

Suggested Use

Top Pick Auto Parts Store Storage Facility HVAC Service Daycare Center (Bike/Boat/Book/etc) Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,740

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

Market

Vacancy Rate% for Retail in Richmond, VA

6.9% 2019

7.5% 2020

7% 2021

5.2% 2022

4.2% 2023

4.9% 2024

5.7% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Storefront property - Flexible commercial layouts feature expansive storefront glazing and exterior loading access.

Where is this storefront property located?

The property is located at 2614 W Cary St Richmond, VA.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 7,808‑square‑foot two‑story storefront property; Flexible commercial layouts across two levels; Large storefront windows provide natural light