1005 Main St Richmond, VA 23219
- Turn key restaurants
- 5,044 SF
- 0.09 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1005 Main St
- Year built
- 1910
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.09 lot acres
- Property size
- 5,044 SF
- Zone code
- B-4 CENTRAL BUSINESS
- Property type
- Turn key restaurants
- APN
- E-000-0080-003
- APU
- E0000080003
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $770,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,100,000
- 6.5%
- $1,000,000
- 7%
- $1,095,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,085,000
- Geo Method
- $1,185,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,240,000
- Retail
- $1,105,000
- Mixed-Use
- $1,225,000
- Hospitality
- $1,155,000
- Educational
- $1,145,000
- Residential Income
- $960,000
- Energy
- $1,225,000
- Income-Based Land
- $955,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.4354
- Latitude
- 37.5373
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
