402-1/2 2Nd St Richmond, VA 23219

Property Details for 402-1/2 2Nd St

Year built

1986

Construction

TYPE NOT SPECIFIED

Lot size

0.06 lot acres

Property size

1,968 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Retail space

APN

N-000-0061-020

APU

N0000061020

Description

This exceptional mixed-use property, located at 402 1/2 N 2nd St in Richmond, Virginia (zip code 23219), presents a compelling investment opportunity with a strong rental history and a desirable 7.00% cap rate. The 2,700 square foot building is zoned B-4 and sits on a 0.042-acre lot. The property features a fully equipped, second-generation bakery/coffee shop storefront complete with sidewalk seating, adding immediate income potential. Above the retail space is a studio apartment, providing additional rental income streams. The building also includes a basement, offering versatile storage or expansion possibilities. Its prime location in the vibrant Jackson Ward neighborhood places it in close proximity to the Convention Center and VCU Hospital, ensuring high foot traffic and strong tenant demand. This property is ideal for both investors seeking a stable, high-yield investment and owner-occupants looking to establish their business in a thriving urban setting. The building's existing setup as a bakery/coffee shop and apartment provides a turnkey operation, minimizing initial setup costs and maximizing immediate returns. This is a rare opportunity to acquire a well-maintained, income-producing property in a highly sought-after location.

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Longitude

-77.4394

Latitude

37.5457

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments