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Property profile & analytics
OFF-MARKET Estimated value $815,000
Office buildings

1600 Altamont Ave Richmond, VA 23230-4502

6,000 SF 0.38 ac lot Built 2004
Entity Owned 9-yr Hold Free & Clear
Property ID
US87-3894512
Property summary
AI-generated overview

This exceptional 7,200 square foot retail space, situated on a 0.385-acre lot at 1600 Altamont Ave in Richmond, Virginia (zip code 23230), presents a unique opportunity for a single-tenant business. Previously utilized as a catering kitchen for a prominent local restaurant group, this two-story building offers ample space for a variety of uses, including restaurants and other retail establishments. The property boasts 21 on-site parking spaces, a significant advantage in a vibrant area largely reliant on street parking. This prime location at the corner of Altamont Avenue and West Moore Street, just north of Moore Street Café, places the property in the heart of Scott's Addition, Richmond's renowned "Beverage District," home to over 50 restaurants, bars, and breweries. Its proximity to Arthur Ashe Boulevard, I-64, and the new Diamond District development further enhances its appeal. The building's 7,200 square feet of vacant space provides significant flexibility for a variety of layouts and designs, allowing for the creation of a truly unique and successful business. The ample parking can be utilized for customer parking or potentially expanded to create outdoor patio space, a popular feature among the area's restaurants. This is a rare opportunity to establish a presence in one of Richmond's most sought-after and dynamic neighborhoods.

Property profile
Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 2004
Construction TYPE NOT SPECIFIED
Total area 6,000 SF
Lot 0.38 ac (16,754 SF)
Zoning code M-1 LIGHT INDUSTRIAL
APN N-000-1597-006
UPID US87-3894512
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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$537k
Blend (final) Blend
$815k
Owner & transaction history
Boo Crunch LLC · 9 yrs held
Boo Crunch LLC
since 2016
3 recorded transactions
2016
$805,000
2006
Price N/A
1998
$95,000
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.1M +34.1%
Medical building $1.0M +22.6%
Neighborhood: shopping center $985,000 +21.0%
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