$1,800,000

2614 W Cary St, Richmond, VA 23220

  • 7,808 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon7,157sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $231/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

**PRIME INVESTMENT OPPORTUNITY - 5.8% CAP RATE** Fully renovated mixed-use building on high-traffic West Cary Street. Turn-key investment with established cash flow and built-in growth. **FINANCIAL HIGHLIGHTS:** - $1,800,000 asking price - 5.8% cap rate - 7,808 SF approx. - 100% occupied - $122,878 projected 2026 income - 1% annual escalations through 2029 **TENANTS:** TBT El Gallo (Mexican restaurant) and Tequila & Deadlifts (boutique fitness) provide complementary businesses with dedicated customer bases. Both have leases through 2029 with renewal options. **PROPERTY FEATURES:** Complete renovation 2016-2018 included electrical, plumbing, HVAC replacement. Recent roof improvements 2024. Two-story structure with flexible layouts, excellent street visibility, large windows, outdoor patios, loading access. **LOCATION:** West Cary Street offers strong pedestrian/vehicle traffic. Prime residential neighborhoods nearby support local businesses. Walk Score 96. Proximity to downtown Richmond. **INVESTMENT BENEFITS:** Passive income opportunity with minimal future CapEx due to recent renovations. Established tenant relationships provide predictable cash flow. Mixed lease structure reduces risk. Richmond's growing economy and millennial population support continued demand for restaurant/fitness concepts. Property positioned for stable returns with appreciation potential in dynamic commercial corridor.

Listing Status:
Active
Listing Office:
Sperity Real Estate Ventures : (804) 349-1000
Listing Agent:
Nathan Hughes : (804) 349-1000
MLS ID:
2526765
  • A/C: Central Air
  • Disability Feature: Accessibility Features
  • Parking: Parking spaces: 0
  • Roofing: Flat
  • General: Block2
  • Road/Access: City Street
  • Originating MLS: CVR
  • County: Richmond City
  • Topography: Level
  • Zoning: 0055.17X0129.75 0000.000W000-1160-030
  • Water: Public
  • Sewer: Public Sewer
  • Source: CVR
  • Ownership: Investment

This listing courtesy of Nathan Hughes, Sperity Real Estate Ventures

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

William Fox Elementary School

2300 Hanover Ave, Richmond, VA, 23220

Grades KG-5

0.41 miles away

B

Binford Middle School

1701 Floyd Ave, Richmond, VA, 23220

Grades 6-8

0.68 miles away

A

Amelia Street Special Education

1821 Amelia St, Richmond, VA, 23220

Grades PK-12

0.90 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.