Downtown Richmond Creative Office
For Sale
Contact for pricing
306 E Main Street, Richmond, VA 23219
Creative office building for sale in downtown Richmond.
Property Size7,500 SF
Price / SF$186.67
Days on Market2968
Property Features for 306 E Main Street
General Information
Standard status
Active
Size
7,500 SF
Class
A
Property subtype
Office
Lease Type
Modified Gross
Building Details
Year Renovated
2016
Stories
2
Tenancy
Multi
Listing Agency:
@S.L. Nusbaum Realty Co Richmond
Listed By:
Trib Sutton · License #0225018992
(804) 477-8785
Source:
Crexi
Added: Aug 23, 2018
Changed: Oct 3
Last Checked: Oct 5 at 7:04PM
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 @S.L. Nusbaum Realty Co Richmond
Investment Insights
Based on property information with market context.
This commercial property, located in downtown Richmond, is a creative office space available for sale. The building offers 7,500 square feet of space suitable for creative office use.
Key Highlights
- Creative office space in Downtown Richmond
- Building for sale: Investment Opportunity
- Property in Downtown Richmond
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,837
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,016,740
$2.0M
Cap Rate 7%
$1,440,529
$1.4M
Cap Rate 9%
$1,120,411
$1.1M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$159.3K $21.24/SF
− Vacancy
−$24.9K −$3.31/SF
EGI
$134.4K $17.93/SF
− OpEx
−$33.6K −$4.48/SF
NOI
$100.8K $13.44/SF
Area
Richmond, VA
Vacancy
15.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,016,740
Cap Rate 7%
$1,440,529
Cap Rate 9%
$1,120,411
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,837 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,293 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,974
Businesses Nearby
Explore this area
Business Placement
Demographics for 23219, VA
5,307
Population
3,488
Households
1.5
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
1.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$62,533
Median Household Income
$46,509
Median Earnings
$1,439
Median Rent
$287,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Creative office building for sale in downtown Richmond.
Where is this creative space located?
The property is located at 306 E Main Street Richmond, VA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Creative office space in Downtown Richmond; Building for sale: Investment Opportunity; Property in Downtown Richmond
