1627 Main St Richmond, VA 23220-4632

This exceptional mixed-use property, located at 1627 W Main St in Richmond, VA, presents a compelling investment opportunity. The 5,090 square foot building, constructed in 1900 and situated on a 0.055-acre lot, boasts a prime location in the vibrant Fan District. Currently operating at 100% occupancy with five tenants, the property features three units: a ground floor commercial space (approximately 1,919 square feet, currently leased, lease terms to be renegotiated upon sale), a three-bedroom/two-bathroom apartment, and a one-bedroom/one-bathroom apartment. Both residential units are currently occupied. The building is a two-story structure classified as Class C, with a permitted UB (Urban Business) zoning. The property's strategic location offers excellent visibility and accessibility, with 35 feet of frontage on W Main Street. Its proximity to Virginia Commonwealth University (VCU), the Museum District, and a diverse array of restaurants and shops enhances its appeal and rental potential. The asking price is $1,700,000. This is a net lease investment with multiple tenants, offering a rare chance to acquire a piece of Richmond's history in a highly sought-after location. The property's strong tenant base and desirable location contribute to its significant investment potential. The building has undergone multiple renovations throughout its history. The property's APN is W0000658001. The occupancy date is December 1, 2024. There are no air rights associated with this property. This is a fee simple ownership held by an LLC. There are no ground leases or gas pumps associated with this property.