Move-In Ready Restaurant with
618 N 1st St Richmond, VA 23219
618 N 1st St, Richmond, VA, 23219
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For Sale
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Renovated ground-floor restaurant with rear patio and off-street parking for a smooth owner-operator setup.
Property Size2,667 SF
Price / SF$260.59
Days on Market50
Property Features for 618 N 1st St
General Information
- Standard status
- Active
- Size
- 2,667 SF
- Property subtype
- RETAIL
Listing Agency
One South Commercial
(434) 981-3146
Listed by
Ann Schweitzer Riley
Source
Moodyscre
Added: Jun 2 Updated: Jul 10 at 1:48 pm Checked: Jul 20 at 4:15 am
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 One South Commercial
Investment Insights
Based on property information with market context.
This move-in ready ground floor restaurant features a fully renovated interior completed in 2016, along with a rear patio/courtyard that supports outdoor seating or customer spillover. The property includes three off-street parking spaces, offering convenient, dedicated access for patrons and staff.
The building is positioned for straightforward operations from street level, with restaurant use already in place. A rear outdoor area is on-site, and the property also offers potential to expand the building footprint, depending on buyer and project plans.
With its ready-to-operate condition and owner-occupant focus, this offering suits restaurateurs seeking an immediate path to opening or continuing operations. The combination of ground-floor functionality, private rear patio/courtyard space, and limited on-site parking makes it a practical fit for a small-to-mid-size restaurant concept that values an efficient layout and minimal near-term improvements.
The building is positioned for straightforward operations from street level, with restaurant use already in place. A rear outdoor area is on-site, and the property also offers potential to expand the building footprint, depending on buyer and project plans.
With its ready-to-operate condition and owner-occupant focus, this offering suits restaurateurs seeking an immediate path to opening or continuing operations. The combination of ground-floor functionality, private rear patio/courtyard space, and limited on-site parking makes it a practical fit for a small-to-mid-size restaurant concept that values an efficient layout and minimal near-term improvements.
Key Highlights
- Move‑in ready ground‑floor restaurant with rear patio/courtyard
- Fully renovated in 2016
- Includes 3 off‑street parking spaces
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.6k | $18.60 |
| − Vacancy | −$3.5k | −$1.30 |
| EGI | $46.1k | $17.30 |
| − OpEx | −$11.5k | −$4.32 |
| NOI | $34.6k | $12.97 |
2,667 SF · lease $18.60/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$494.3K
$432.5K – $576.7K
NOI $34,600 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$616.2K
$539.2K – $718.9K
NOI $43,132 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Restaurant Adarra
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Spice of India — 106 N 7th St, Richmond, VA 23219
FAQs
What type of property is this?
Conventional restaurant - Renovated ground-floor restaurant with rear patio and off-street parking for a smooth owner-operator setup.
Where is this conventional restaurant located?
The property is located at 618 N 1st St Richmond, VA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Move‑in ready ground‑floor restaurant with rear patio/courtyard; Fully renovated in 2016; Includes 3 off‑street parking spaces
