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    5-7 Broad St Richmond, VA 23219

    Sponsored
    For Lease
    $15 SF/Yr

    Historic Flex Space, Multiple Units Available

    Lot size:
    180,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 180,000 square foot flex space, located in Richmond, Virginia's vibrant Arts District near VCU University, presents a unique investment opportunity. Situated at 5-7 East Broad Street, this Class C property offers multiple tenancy options, with a minimum divisible space of 5,867 square feet and a maximum contiguous space of 5,867 square feet. Currently, 11,734 square feet is available for lease. Built in 1910, this building boasts a rich history and is ideally suited for a variety of businesses seeking a blend of retail, office, and industrial space. The property's prime location in the Arts District provides excellent visibility and accessibility, benefiting from the high foot traffic and proximity to Virginia Commonwealth University. The flexible layout allows for customization to meet diverse business needs. This is an exceptional chance to secure space in a thriving, historic area of Richmond, offering a unique blend of character and modern functionality. The property is located in Richmond City County, Virginia, zip code 23219. The building's total square footage is 180,000 square feet. Two spaces are currently available for lease.

    Property Features for 5-7 Broad St

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    180,000 SF
    Class
    C
    Total Rate
    225000

    Building Details

    Year Built
    1910

    Unit(s) available at that property

    Space
    2nd Floor
    Size
    5,867 SF
    Rate per SF
    $20
    Space
    3rd Floor
    Size
    5,867 SF
    Rate per SF
    $20

    HighLights

    • Asking rent: $15-$20 per square foot.
    • Approximately 12,000 square foot facility.
    • Second and third floors, each 5,867 square feet, divisible or combinable.
    • Arts District location on Broad Street Corridor, Downtown Richmond, VA.
    • Recently renovated.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4420161
    Latitude
    37.5452318

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    FAQs

    What type of property is this?
    Flex space - Historic Flex Space, Multiple Units Available
    Where is this flex space located?
    The property is located at 5-7 Broad St Richmond, VA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Asking rent: $15-$20 per square foot.; Approximately 12,000 square foot facility.; Second and third floors, each 5,867 square feet, divisible or combinable.
    Request Owner's contact information
    5-7 Broad St Richmond, VA 23219
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5-7 Broad St Richmond, VA 23219
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