Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    505 Main St Richmond, VA 23219

    Sponsored
    For Sale
    $725,000

    Prime Richmond location, multifamily & office space.

    Property size:
    3,954 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 505 E Main St, Richmond, VA 23219 presents a unique investment opportunity. The building, classified as a Class B property, boasts a total of 3,954 square feet spread across two stories. The property includes a 1,318 square foot apartment currently generating a monthly rental income of $1,500, providing immediate cash flow. In addition to the residential component, there is 2,634 square feet of office space, ideal for an owner-occupant or for lease to generate additional income. The property features two dedicated parking spaces, a valuable asset in a bustling urban environment. This property is being sold "As-Is," allowing for flexibility and potential for renovation or customization to suit the buyer's specific needs. Located in the heart of Richmond, this mixed-use building offers excellent visibility and accessibility, making it an attractive proposition for investors seeking a blend of residential and commercial income streams. The property's strong rental income and versatile layout make it a compelling investment opportunity in a thriving Virginia market. The convenient location and existing income stream make this a truly attractive proposition.

    Property Features for 505 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,954 SF
    Class
    B

    Building Details

    Stories
    2

    HighLights

    • 3,954 square foot building.
    • 1,318 square foot apartment generating $1,500 monthly rent.
    • 2,634 square foot office space.
    • Ideal owner‑occupant opportunity.
    • Two dedicated parking spaces.
    • As‑is sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mc Cabe Nicole ... Attorney Marshall & Marshall Insurance Attorney Crown Vending Coffee ... Vending Machine Supplier

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond
    State
    Virginia
    Longitude
    -77.4398058
    Latitude
    37.5400694

    Nearby Similar for Sale

    • $1,200,000
      0.14 Acres

      Historic Richmond Office Building Auction

      Iconic office building in Richmond's Central Business District.
      819 E Main St, Richmond, VA 23219
      View Details
    • $600,000
      2,838 SF

      Richmond Duplex with Income Potential

      Duplex in Richmond with two units and income potential.
      710 Chimborazo Blvd, Richmond, VA 23223
      View Details
    • $599,950
      3,356 SF

      Modern Duplex in Richmond's Northside

      Renovated duplex with strong rental potential in thriving Richmond community.
      2111 North Ave, Richmond, VA 23222
      View Details
    • New
      $349,900
      3,416 SF

      Richmond Duplex on Semmes Avenue

      Over/under duplex with development potential near Semmes Avenue.
      3318 Semmes Ave, Richmond, VA 23225
      View Details
    • $695,000
      Pending

      New Construction Multifamily in Richmond

      New construction duplex near downtown Richmond, completion January 2026.
      905 Bainbridge St, Richmond, VA 23224
      View Details
    • $695,000
      Pending

      New Construction Multifamily in Richmond

      New construction duplex in historic Manchester, Richmond, scheduled for completion.
      907 Bainbridge St, Richmond, VA 23224
      View Details
    • New
      $525,000
      1,810 SF

      Updated Colonial in Gated Community

      Updated 3-bed, 2-bath home in Richmond's Chatham Square.
      6161 River Rd, Richmond, VA 23226
      View Details
    • $585,000
      Pending

      Updated Duplex in West End

      Turnkey duplex in a sought-after location with modern upgrades.
      12300 Poplar Forest Dr, Richmond, VA 23238
      View Details
    • $300,000
      2,072 SF

      Historic Duplex in Oakwood-Chimborazo District

      1910 bungalow-style duplex with income potential near downtown Richmond.
      1619 Oakwood Ave, Richmond, VA 23223
      View Details
    • $625,000
      2,102 SF

      Duplex in the Heart of Fan

      Duplex with hardwood floors, laundry, yard, and off-street parking.
      2618 W Main St, Richmond, VA 23220
      View Details
    • $650,000
      0.31 Acres

      Richmond Industrial Cold-Storage Facility For Sale

      6,410 SF industrial/cold-storage facility in Richmond's Chamberlayne Industrial Center.
      1505 Brook Rd, Richmond, VA 23220
      View Details
    • $2,200,000
      8,296 SF

      Fan District Multifamily Investment Property

      Fully leased, renovated six-unit building in Richmond's Fan District.
      1012 W Franklin St, Richmond, VA 23220
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime Richmond location, multifamily & office space.
    Where is this multifamily property located?
    The property is located at 505 Main St Richmond, VA.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 3,954 square foot building.; 1,318 square foot apartment generating $1,500 monthly rent.; 2,634 square foot office space.
    Request Owner's contact information
    505 Main St Richmond, VA 23219
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    505 Main St
    Richmond, VA 23219
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    505 Main St Richmond, VA 23219
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.