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Property profile & analytics
OFF-MARKET
Turn key restaurants

306 Libbie Ave Richmond, VA 23226-2614

2,161 SF 0.19 ac lot Built 1922
Entity Owned Free & Clear
Property ID
US87-0911026
Property summary
AI-generated overview

This exceptional 2,160 square foot restaurant located at 306 Libbie Avenue in Richmond, Virginia, is offered for sale at $1,650,000. Currently operating at 100% occupancy, the property boasts a highly desirable location in the heart of Richmond's premier boutique shopping and dining district. The lease is in place until April 2026, with an option to extend through 2031, providing excellent long-term stability for the investor. The property includes off-street parking, a significant advantage in this vibrant area. Its strategic proximity to key institutions further enhances its appeal. Less than a mile away are the University of Richmond, the Country Club of Virginia, St. Catherine's and St. Christopher's Schools, and St. Mary's Hospital, ensuring a consistent flow of potential customers. This turnkey operation presents a rare opportunity to acquire a thriving restaurant business in a prime Richmond location with a secure lease and strong future prospects. The property's high-end surroundings and established clientele make it an attractive investment for discerning buyers seeking a profitable and well-positioned commercial asset. The zip code is 23226.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1922
Construction WOOD
Total area 2,161 SF
Lot 0.19 ac (8,364 SF)
Zoning code UB-PO1 PARKING OVERLAY
APN W-021-0310-012
UPID US87-0911026
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
Current use
Occupant on record · Public records
  • ManCave Aesthetics Barber Shop
  • Cameo Cakery And Cafe Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Somerset Properties LLC
Somerset Properties LLC
since 2025
Last sale
$1.5M
2 recorded transactions
2025
$1.5M
2023
Price N/A
Zoning & alternative use
UB-PO1 PARKING OVERLAY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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