Multifamily Housing
412 North 3rd Street Richmond, VA 23219
Details & Description
Price: $3,500,000
    Prime Investment Opportunity in one of Richmond's fastest growing, connected locations - tourist destination and home of the Medical College of Virginia and Biotechnology Research Center. This pedestrian and mass-transit-oriented location offers a stable income and opportunity to convert apr. 3,000sf parking garage to street retail use(s) and/or additional apartments, add square footage onto the rear of the building, up to 6 stories above the garage and/or main building as the area continues to become more populated. The need for short-term rentals is increasing in this location and offers the opportunity to convert some or all of the units to air b&b for increased NOI.
    Property Highlights
     15 Luxury-Apartments with Opportunity to Transition existing parking garage to commercial andor residential units
     Located Directly Across from 700,000sf Greater Richmond Convention Center
    Listing Agents
    Susan Haas

    O: 804-349-5788
    M: 804-349-5788
    susan.haas@joynercommercial.net
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    412 North 3rd Street

    Richmond, VA 23219

    Listing ID: 273950
    • 412 North 3rd Street Richmond, VA 23219 | for Sale | Photo 1
    • 412 North 3rd Street Richmond, VA 23219 | for Sale | Photo 2
    • 412 North 3rd Street Richmond, VA 23219 | for Sale | Photo 3
    412 North 3rd Street | for Sale | Thumbnail 1
    412 North 3rd Street | for Sale | Thumbnail 2
    412 North 3rd Street | for Sale | Thumbnail 3
    Building Size: 18,336 SF
    Lot Size: 0.317 AC
    Land Size: 13,828 SF
    Building $/SF: $190.88
    Land $/SF: $253.11
    Price
    $3,500,000
    Property Highlights
    15 Luxury-Apartments with Opportunity to Transition existing parking garage to commercial andor residential units
    Custom Renovations with Low-Maintenance and Eco-Friendly Systems
    Located at the City Center at Pulse Rapid Transit Stops
    Walk to Downtown, MCV, Restaurants and Shops
    Located Directly Across from 700,000sf Greater Richmond Convention Center
    1 block to $1.4 Billion Navy Hill Project
    Description

    Prime Investment Opportunity in one of Richmond's fastest growing, connected locations - tourist destination and home of the Medical College of Virginia and Biotechnology Research Center. This pedestrian and mass-transit-oriented location offers a stable income and opportunity to convert apr. 3,000sf parking garage to street retail use(s) and/or additional apartments, add square footage onto the rear of the building, up to 6 stories above the garage and/or main building as the area continues to become more populated. The need for short-term rentals is increasing in this location and offers the opportunity to convert some or all of the units to air b&b for increased NOI.

    Attachments & Files

    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Richmond History of Multifamily Housing for Sale

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    Richmond Area Market Trends

    Listing Demographics for 412 North 3rd Street Richmond, VA 23219

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population22,855136,431257,217
    Population Median Age293738
    Population by Age0-9 Yrs1815 (7%)12276 (8%)27584 (10%)
    10-19 Yrs4670 (20%)14521 (10%)27423 (10%)
    20-29 Yrs9121 (39%)35179 (25%)51492 (20%)
    30-39 Yrs2680 (11%)22113 (16%)40475 (15%)
    40-49 Yrs1315 (5%)13144 (9%)27825 (10%)
    50-59 Yrs1491 (6%)16018 (11%)32804 (12%)
    60-69 Yrs1146 (5%)13434 (9%)26782 (10%)
    70+ Yrs617 (2%)9745 (7%)22832 (8%)
    Median HH Income$28,487$44,594$47,536
    Total Household Income< 24K3980 (46%)17539 (31%)29678 (28%)
    25-49K1714 (20%)13011 (23%)25414 (24%)
    50-74K1325 (15%)9492 (16%)17912 (16%)
    75-99K743 (8%)5580 (9%)11009 (10%)
    100-199K563 (6%)7981 (14%)15711 (14%)
    200K+231 (2%)2659 (4%)5805 (5%)
    Highest Education LevelNo Diploma15971217424029
    Diploma or GED20871985742320
    Some College17771763634861
    Assoc. Degree561504711054
    Bachelors Degree27262393541279
    Higher Degree20051509726453
    Total Housing Units9,64863,507116,741
    --Owner-Occupied1,17020,80546,988
    --Renter-Occupied7,38535,45658,541
    Owner-Occupied Values< 100K13434396583
    100-199K390661817527
    200-299K32240249656
    300-399K10427325228
    400-499K10715922752
    500K+11224015243
    Total Working Age Population20,388117,644215,160
    In Work Force12,12078,908144,025
    Not In Work Force8,26838,73671,136
    Workforce Employed10,66873,604134,483
    Workforce Unemployed1,3364,8628,900
    Civlian Workforce12,00478,466143,383
    Military Workforce116442642
    Total Households8,55556,261105,529
    Family Households2,10921,60447,732
    Non-Family Households6,44634,65757,797
    Married Couple80011,20926,285
    Other Family1,31010,39521,447
    Married w/Child1162,9238,409
    Single Male w/Child756811,580
    Single Female w/Child7154,2298,675

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    Virginia7,078,515+138,001,024+88,655,021+89,331,666
    Chesterfield County259,903+22316,236+12353,841+12396,647
    Hanover County86,320+1699,863+9109,244+9119,360
    Henrico County262,300+17306,935+8332,103+9363,259
    Richmond city197,790+3204,214+14232,533+6245,483

    Total Working Age Population:

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    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 412 North 3rd Street in Richmond?
    The asking price for 412 North 3rd Street is $3,500,000
    What is the building size of this Multifamily property in Richmond, VA?
    The size of the building/unit at 412 North 3rd Street in Richmond is 18,336 square feet
    How much land does the Richmond, VA property at 412 North 3rd Street include?
    412 North 3rd Street in Richmond includes 0.317 acres of land
    What is the population within 1 mile of 412 North 3rd Street in Richmond?
    The population within 1 mile of 412 North 3rd Street Richmond, VA 23219 is 22,855 people.
    Who do I contact for questions about 412 North 3rd Street?
    You should contact the listing agent, Susan Haas, for any details regarding this commercial listing.

    Closest Commercial Airports

    Airport Distance (mi)
    Richmond International Airport (RIC) 7
    Newport News Williamsburg International Airport (PHF) 59
    Norfolk International Airport (ORF) 82