Auction Summary – 2824 North Avenue, Richmond, VA Auction Date & Time: Thursday, September 25, 2025 – 11:00 AM Auction Format: October Monthly Real Estate Consignment Auction (online bidding) Property Overview Address: 2824 North Avenue, Richmond, VA Parcels Included: 2824 North Ave – Professional Office Building (PIN N0000783003) 2820 North Ave – Paved Surface Parking Lot (PIN N0000783004) Lot Size (Combined): ±0.33 acres (0.186 acres + 0.153 acres) Building Size: ±5,122 SF (Class C Office, built 1930/1966 per records) Stories: 1 story masonry with basement area Parking: On-site paved lot, approx. 10 marked spaces Zoning/Use: Professional office with paved parking Market & Investment Highlights Northside Submarket Vacancy: 4.4% (below metro average 8.7%) Comparable Rents: $18–22/SF in similar peer offices Peer Sales: $128–$158/SF in recent comparable trades Walk Score: 74 (Very Walkable) Transit Score: 43 (Some Transit) Auction Terms Opening Bid: $350,000 Buyer’s Premium: 10% added to the high bid Deposit: $5,000 non-refundable, due day of sale Closing: Balance due within 45 days Contingencies: Sale is as-is, contingency-free Tax & Assessment Information 2824 North Ave (Office): 2025 Assessment: $516,000 ($85,000 land + $431,000 improvements) Building Area: 5,122 SF 2820 North Ave (Parking Lot): 2025 Assessment: $85,000 ($79,000 land + $6,000 improvements) Lot Size: 0.153 acres Combined 2025 City Assessment: $601,000 Auctioneer’s Note This North Avenue office building with adjacent parking lot offers a strong opportunity in Richmond’s stabilizing office market. While currently vacant, the property sits in a walkable corridor of the city’s Northside neighborhood. With limited new supply, modest rent growth, and comparable buildings achieving steady occupancy, this property positions the buyer to capture upside through repositioning, owner-occupancy, or investment lease-up.