206 Broad StRichmond, VA 23220

Property Details for 206 Broad St

Year built

1940

Construction

TYPE NOT SPECIFIED

Lot size

0.10 AC

Property size (Sq ft)

3,946 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Retail properties

Property subtype

Retail space

APN

N-000-0037-027

APU

N0000037027

Description

This exceptional mixed-use commercial property, located at 206 W Broad Street in Richmond, Virginia, presents a unique investment opportunity. The building encompasses a substantial 5,543 square feet and offers a versatile blend of office and multi-family residential space. Its strategic location in Richmond ensures high visibility and accessibility, making it ideal for a variety of businesses and tenants. The property's layout allows for flexible configurations, catering to diverse operational needs. The building's current configuration is suited for both commercial office use and multi-family residential occupancy, providing a strong foundation for immediate income generation and long-term growth. The asking price of $1,200,000 reflects the property's significant potential for return on investment. This is a rare chance to acquire a well-situated mixed-use property in a thriving urban environment. The property sits on a lot with no acreage, making it a compact and efficient investment. Serious inquiries are encouraged to explore the full potential of this remarkable opportunity. Detailed financial information and property plans are available upon request. Don't miss this chance to secure a valuable asset in a dynamic and growing market. This property is being offered as-is.

• CAP approach

  CAP return

  Valuation

  6%

  $1,280,269

  6.5%

  $1,181,787

  7%

  $1,097,373

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,660,734

  Geo Method

  $1,660,734

• Alternative Use

  Use

  Valuation

  Residential

  $996,881

  Hospitality

  $913,138

  Educational

  $759,720

  Medical

  $785,848

  Retail

  $1,181,787

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5447

Longitude

-77.4396

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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