Renovated Freestanding Retail
For Sale
$249,000
3004 Hull St, Richmond, VA 23224
B-1/B-2 zoning supports retail, office, and professional service uses with street access and rear parking.
Property Size1,300 SF
Price / SF$191.54
Days on Market53
Property Features for 3004 Hull St
General Information
Standard status
Active
Size
1,300 SF
Zoning
B-1/B-2
Building Details
Year Built
1974
Year Renovated
2020
Buildings
1
Construction
block
Listing Agency:
Hardesty Homes
Listed By:
Amanda Hardesty · License #0225203718
(804) 651-2157
Source:
Riverfoxrealty
Added: Aug 23
Changed: Oct 10
Last Checked: Oct 5 at 8:44PM
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 Hardesty Homes
Investment Insights
Based on property information with market context.
This freestanding 1,300-square-foot block building provides a compact commercial layout with a private 8-by-8-foot office and two 8-by-8-foot restrooms. Improvements completed in 2020 include updated electrical service and wiring, plumbing upgrades, a tankless water heater, and luxury floating laminate flooring. The property is currently used as an event center and will convey in as-is condition.
B-1/B-2 General Business zoning supports retail, office, and professional service applications. Parking is available along the Hull Street frontage, with an additional private gravel area behind the building. The configuration offers a straightforward option for an owner-user or investor seeking a small commercial property with recent building-system improvements.
B-1/B-2 General Business zoning supports retail, office, and professional service applications. Parking is available along the Hull Street frontage, with an additional private gravel area behind the building. The configuration offers a straightforward option for an owner-user or investor seeking a small commercial property with recent building-system improvements.
Key Highlights
- 1,300‑square‑foot freestanding block retail building
- 2020 improvements include electrical, plumbing, flooring, and tankless water heater upgrades
- Private 8‑by‑8‑foot office and two 8‑by‑8‑foot restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,188
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,760
$283.8K
Cap Rate 7%
$202,686
$202.7K
Cap Rate 9%
$157,644
$157.6K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$22.2K $17.04/SF
− Vacancy
−$1.9K −$1.45/SF
EGI
$20.3K $15.59/SF
− OpEx
−$6.1K −$4.68/SF
NOI
$14.2K $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%
$283,760
Cap Rate 7%
$202,686
Cap Rate 9%
$157,644
Alternative Uses
Best Use
Retail
$202.7K
$177.4K – $236.5K
NOI $14,188 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.3K
$262.8K – $350.4K
NOI $21,024 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
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 - B-1/B-2 zoning supports retail, office, and professional service uses with street access and rear parking.
Where is this storefront property located?
The property is located at 3004 Hull St Richmond, VA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,300‑square‑foot freestanding block retail building; 2020 improvements include electrical, plumbing, flooring, and tankless water heater upgrades; Private 8‑by‑8‑foot office and two 8‑by‑8‑foot restrooms
