2028 W Cary St - Apartments FOR SALE


Richmond, VA 23220- Uptown Richmond
$2,750,000 USD
804-539-3017
2028 W Cary St, Richmond, VA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/42
null | Request Cap Rate

2028 W Cary St
Richmond, VA 23220
Uptown Richmond


HIGHLIGHTS

  • 1,470 SF commercial space
  • Outdoor patio seating
  • Off street parking
  • Full service NNN restaurant lease with 3.5 years remaining
  • 2 buildings
  • 7 units total: 1 commercial and 6 residential units

OVERVIEW

2028 W Cary is an exceptionally rare opportunity to own a luxury renovated/new construction mixed use asset in Richmond’s most sought after “blue-chip” neighborhood, the Fan District. Designed by David Johannas of Johannas Design Group, this award winning project is a stunning and successful example of “historic meets modern” design and construction in an excellent central location with unparalleled access to some of the City’s most desirable amenities. The offering consists of two (2) structures, designed to complement one another. The existing historic structure is a fully renovated 3,100 SF 2- story retail building, tenanted by a local restaurant tenant on the ground floor. On the additional floor above is one (1) apartment. The historic building is flanked by a dramatic 5,600 SF 3-story modern addition of five (5) unique apartments, completed in 2016 to maximize density across the entire 0.162 acre site. Walkable to Richmond’s local shopping mecca, Carytown, and recently developed mixed use community, Cary Street Station, 2028 W Cary offers a high profile luxury investment with long term upside for both rent and value appreciation. Apartments include a range of 1-3 bedroom floor plans across both buildings, beautifully executed with high end condo-grade finishes, multi-level layouts, strategic preservation of historic elements, commercial grade windows and doors, and private balcony/patio space: all of which could recommend the property for condo conversion in the future. A low maintenance luxury asset for an owner-occupant buyer or a boutique multifamily investor, 2028 W Cary offers a “turn-key” investment opportunity with a diversified revenue stream.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$302 USD /SF

# OF UNITS

6

PRICE/UNIT

$458,333

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Renovated Luxury Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R-63

APN/PARCEL ID

W000-0898-032

ASK ABOUT THIS PROPERTY

Tom RosmanOne South CommercialMore Info
804-539-3017

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Tom RosmanOne South CommercialMore Info
804-539-3017

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.