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    1005 Main St Richmond, VA 23219

    Sponsored
    For Sale
    $1,400,000

    Iconic Downtown Building, 12,000 SF

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 12,000 square foot commercial property, located at 1005 E. Main Street in Richmond, Virginia, presents a unique investment opportunity. The three-story building, including a mezzanine, boasts classic early 20th-century architecture and is situated in the heart of downtown, surrounded by offices, apartments, hotels, and prominent Richmond landmarks. Its versatile design allows for a multitude of uses, making it ideal for a variety of businesses. Currently zoned for retail, office, hospitality, and special purpose uses, the property is particularly well-suited for restaurants, creative office spaces, or entertainment venues. The building's substantial size and prime location offer significant potential for expansion, with the possibility of adding a rooftop patio or additional stories. The asking price for this iconic property is $1,400,000. This presents a rare chance to acquire a landmark building in a thriving urban core, offering both immediate income potential and long-term appreciation. The property's adaptable layout and central location make it an attractive investment for discerning buyers seeking a high-impact commercial space in a vibrant and growing city. The zip code is 23219.

    Property Features for 1005 Main St

    General Information

    Property type
    Restaurants
    Square Feet
    12,000 SF

    Building Details

    Stories
    3

    HighLights

    • 12,000 SF on three floors plus mezzanine.
    • Ideal for restaurant, entertainment, office, hospitality, or other creative uses.
    • Iconic early 20th‑century architecture.
    • Potential for rooftop patio or additional stories.
    • Prime downtown location surrounded by offices, apartments, hotels, and landmarks.
    • Asking price: $1,400,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond city
    State
    Virginia
    Longitude
    -77.435372
    Latitude
    37.537281

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    FAQs

    What type of property is this?
    Restaurant - Iconic Downtown Building, 12,000 SF
    Where is this restaurant located?
    The property is located at 1005 Main St 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: 12,000 SF on three floors plus mezzanine.; Ideal for restaurant, entertainment, office, hospitality, or other creative uses.; Iconic early 20th-century architecture.
    Request Owner's contact information
    1005 Main St Richmond, VA 23219
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    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
    1005 Main St Richmond, VA 23219
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