Downtown Richmond Redevelopment Opportunity

422 E Franklin St, Richmond, VA 23219

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For Sale

$2,800,000

Historic 23,187 SF building ready for reimagining.

Type:Commercial

Property size:

23,187 SF

Price / SF:

$120/SF

HighLights

Prime downtown Richmond location across from the Hotel John Marshall, near the State Capitol and Riverfront.
Redevelopment opportunity for residential or mixed‑use property.
Historic building with potential Historic Tax Credit and Enterprise Zone incentives.
Large floor plates (approximately 7,729 SF per floor) with high ceilings, large windows, and abundant natural light.
Award‑winning 2002 renovation (Golden Hammer Award).
High walk, bike, and transit scores (83, 89, and 63 respectively).

We can help!

Listing Contact

Jennie Dotts

Learn more

For Sale

$2,800,000

Historic 23,187 SF building ready for reimagining.

Type:Commercial

Property size:

23,187 SF

Price / SF:

$120/SF

Added:: Apr 24, 2026
Days on Market:: 49
Last Refresh:: Apr 24 at 5:46 pm

Property Features for 422 E Franklin St

General Information

Standard status: Active
Size: 23,187 SF
Property subtype: Commercial

Building Details

Year Built: 1923

We can help!

Listing Contact

Jennie Dotts

Listing agent Jennie Dotts License #0225214844

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Jennie Dotts

HighLights

Prime downtown Richmond location across from the Hotel John Marshall, near the State Capitol and Riverfront.
Redevelopment opportunity for residential or mixed‑use property.
Historic building with potential Historic Tax Credit and Enterprise Zone incentives.
Large floor plates (approximately 7,729 SF per floor) with high ceilings, large windows, and abundant natural light.
Award‑winning 2002 renovation (Golden Hammer Award).
High walk, bike, and transit scores (83, 89, and 63 respectively).

Overview

Located in downtown Richmond, this three-story, 23,187 SF office building, constructed in 1923 for the Imperial Tobacco Co., stands as a landmark. The Imperial Building, clad in limestone with Neoclassic entrances, is situated on a corner across from the Hotel John Marshall, near the State Capitol and the Riverfront. The building, which received a Golden Hammer Award for its 2002 renovation, currently houses the Richmond Free Press and other businesses, and is suited for redevelopment as a residential or mixed-use property. Historic Tax Credit and Enterprise Zone incentives are available. Each floor measures approximately 7,729 SF and features high ceilings, large windows, and natural light. The main level includes a lobby extending from the front to the rear, with parking located below. The second floor contains wood-paneled executive offices with fireplaces, a board room, conference rooms, offices, and a break room. The third floor offers spacious suites and storage. The Imperial Building reflects the history of the global tobacco trade during the Gilded Age and Civil Rights advocacy. The location is considered very bikeable with a score of 89, very walkable with a score of 83, and has good transit with a score of 63.

Location Intelligence

Current Use by Public Records

McCollum at Law P.C Law Firm HDH Department Store Community Staffing Employment Agency HDH Copying & Printing ... (Bike/Boat/Book/etc) Store Richmond Free Press Publishing House

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Location Insight

Map
Local Demand

City: Richmond
County: Richmond City
State: Virginia
Longitude: -77.4392306
Latitude: 37.5414821

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For sale
Office buildings
VA
Richmond
23219
422 E Franklin St

What type of property is this?

Office building - Historic 23,187 SF building ready for reimagining.

Where is this office building located?

The property is located at 422 E Franklin St Richmond, VA.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: Prime downtown Richmond location across from the Hotel John Marshall, near the State Capitol and Riverfront.; Redevelopment opportunity for residential or mixed‑use property.; Historic building with potential Historic Tax Credit and Enterprise Zone incentives.