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Property profile & analytics
OFF-MARKET Estimated value $845,000
Turn key restaurants

1005 Main St Richmond, VA 23219-3503

5,044 SF 0.09 ac lot Built 1910
Entity Owned 5-yr Hold Free & Clear
Property ID
US87-0043095
Property summary
AI-generated overview

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 profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1910
Construction TYPE NOT SPECIFIED
Total area 5,044 SF
Lot 0.09 ac (3,823 SF)
Zoning code B-4 CENTRAL BUSINESS
APN E-000-0080-003
UPID US87-0043095
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$825k
CAP Approach CAP
by Request
Comparable Approach Comparable
$579k
Blend (final) Blend
$845k
Owner & transaction history
Cedars LLC · 5 yrs held
Cedars LLC
since 2021
Last sale
$1.0M
6 recorded transactions
2021
$598,500
2016
Price N/A
2015
$1.0M
2005
$450,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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