For Sale
$1,750,000
2712 E Leigh St, Richmond, VA 23223
Mixed-use properties
Property Size4,835 SF
Price / SF$361.94
Days on Market148
Property Features for 2712 E Leigh St
General Information
Standard status
Active
Size
4,835 SF
Site & Location
Neighborhood
Chbz
Building Details
Year Built
1971
Listing Agency:
Virginia Capital Realty
Listed By:
Susanne Gibson · License #0225192688
(804) 300-7383
Source:
Onedreamrealty
Added: May 31
Changed: Oct 10
Last Checked: Oct 7 at 2:31PM
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 Virginia Capital Realty
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Investment Insights
Based on property information with market context.
Key Highlights
- Fully occupied, income‑generating 8‑unit mixed‑use building with 7 apartments and 1 retail space.
- Recently totally rehabbed in 2019.
- Located in the desirable Church Hill district known for historic charm, walkability, dining, and nightlife.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,377
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,540
$1.2M
Cap Rate 7%
$862,529
$862.5K
Cap Rate 9%
$670,856
$670.9K
Market Conditions
NOI Build-Up for 4,835 SF
Gross rent
$107.3K $22.20/SF
− Vacancy
−$10.7K −$2.22/SF
EGI
$96.6K $19.98/SF
− OpEx
−$36.2K −$7.49/SF
NOI
$60.4K $12.49/SF
Area
Richmond, VA
Vacancy
10.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,540
Cap Rate 7%
$862,529
Cap Rate 9%
$670,856
Alternative Uses
Best Use
Mixed Use
$862.5K
$754.7K – $1.01M
NOI $60,377 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$855.7K
$748.7K – $998.3K
NOI $59,898 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.12M
$977.4K – $1.30M
NOI $78,193 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,315
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 2712 E Leigh St Richmond, VA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Fully occupied, income‑generating 8‑unit mixed‑use building with 7 apartments and 1 retail space.; Recently totally rehabbed in 2019.; Located in the desirable Church Hill district known for historic charm, walkability, dining, and nightlife.
