Multifamily Housing
1731 East Main Street Richmond, VA 23223
Details & Description
Price: $3,490,000
    Shockoe Bottom Portfolio Sale in OPPORTUNITY ZONE, Eligible for HISTORIC TAX CREDITs and TAX ABATEMENT in one of Richmond's fastest growing neighborhoods at the downtown central business district. 1725, 1726, 1727, 1729, 1731 E. Main St, 11 S. 15th St and 2 S. 18th St consists of 21,335 finished sf 6 brick buildings with 6 Retail spaces and 11 Apartments (9 1-bedroom and 2 2-bedroom units) w/98% occupancy. There is ability to add square footage and value to interiors of individual units (renovated units, new roofs, new HVAC units).Main Street Station transit-oriented development at Richmond's Grand Central Station as Amtrak's $3.8 Billion capital investment creates demand for apts. at transit stations and DBA4 buildings w/ 8 apts. and 4 retail spaces at 1725, 1727/29, 1731 E. Main St and 11 S. 18th St . $2,250,000 -1 building w/ 3 apts., 1 retail l spaces at 1726 E. Main St. $1,300,000 -11 S. 15th St 1-story retail bldg. $475,000 Across from Main Street Station and Farmer's Market, zoned B5 on .41 acres and current cap rate of 5.8% with enormous upside including value-add in 6 Retail and 11 Residential units and opportunities for additional square footage in rear and rooftop patio(s) OPPORTUNITY ZONE, Eligible for HISTORIC TAX CREDITs and TAX ABATEMENTConditions of units range from sophisticated units renting close to the current market rate prices to dated, 1 in need of build-out. Four retail units include fully-equipped kitchens, dining rooms, bars, outdoor patio and basements. All buildings have unfinished space in the basements and opportunities to increase square footage with multi-story addition(s) and/or adding stories to the 2 stand-alone buildings. Rooftop patios are also a possibility with City approval. Apr. 10 Off-street parking spaces are located behind 4 properties on E. Main St. and 18th St. Opportunity Zone Incentives Apply.
    Property Highlights
    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.

    1731 East Main Street

    Richmond, VA 23223

    Listing ID: 273955
    • 1731 East Main Street Richmond, VA 23223 | for Sale | Photo 1
    • 1731 East Main Street Richmond, VA 23223 | for Sale | Photo 2
    • 1731 East Main Street Richmond, VA 23223 | for Sale | Photo 3
    1731 East Main Street | for Sale | Thumbnail 1
    1731 East Main Street | for Sale | Thumbnail 2
    1731 East Main Street | for Sale | Thumbnail 3
    Building Size: 21,359 SF
    Lot Size: 0.407 AC
    Land Size: 17,728 SF
    Building $/SF: $163.40
    Land $/SF: $196.86
    Price
    $3,490,000
    Property Highlights
    6 Mixed-Use Buildings in Shockoe Bottom with Opportunity to Add Value
    One of the fastest growing neighborhood in Richmond
    Transportation Hub of Richmond with High-Density Development
    Eligible for Historic Tax Credits
    Opportunity Zone
    Tax Abatement Incentives
    Description

    Shockoe Bottom Portfolio Sale in OPPORTUNITY ZONE, Eligible for HISTORIC TAX CREDITs and TAX ABATEMENT in one of Richmond's fastest growing neighborhoods at the downtown central business district. 1725, 1726, 1727, 1729, 1731 E. Main St, 11 S. 15th St and 2 S. 18th St consists of 21,335 finished sf 6 brick buildings with 6 Retail spaces and 11 Apartments (9 1-bedroom and 2 2-bedroom units) w/98% occupancy. There is ability to add square footage and value to interiors of individual units (renovated units, new roofs, new HVAC units).Main Street Station transit-oriented development at Richmond's Grand Central Station as Amtrak's $3.8 Billion capital investment creates demand for apts. at transit stations and DBA

    4 buildings w/ 8 apts. and 4 retail spaces at 1725, 1727/29, 1731 E. Main St and 11 S. 18th St . $2,250,000 -1 building w/ 3 apts., 1 retail l spaces at 1726 E. Main St. $1,300,000 -11 S. 15th St 1-story retail bldg. $475,000 Across from Main Street Station and Farmer's Market, zoned B5 on .41 acres and current cap rate of 5.8% with enormous upside including value-add in 6 Retail and 11 Residential units and opportunities for additional square footage in rear and rooftop patio(s) OPPORTUNITY ZONE, Eligible for HISTORIC TAX CREDITs and TAX ABATEMENT

    Conditions of units range from sophisticated units renting close to the current market rate prices to dated, 1 in need of build-out. Four retail units include fully-equipped kitchens, dining rooms, bars, outdoor patio and basements. All buildings have unfinished space in the basements and opportunities to increase square footage with multi-story addition(s) and/or adding stories to the 2 stand-alone buildings. Rooftop patios are also a possibility with City approval. Apr. 10 Off-street parking spaces are located behind 4 properties on E. Main St. and 18th St. Opportunity Zone Incentives Apply.

    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 1731 East Main Street Richmond, VA 23223

    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 Population17,818123,859246,763
    Population Median Age333637
    Population by Age0-9 Yrs1412 (7%)11914 (9%)26933 (10%)
    10-19 Yrs1174 (6%)14713 (11%)26952 (10%)
    20-29 Yrs6576 (36%)31431 (25%)49731 (20%)
    30-39 Yrs3508 (19%)19231 (15%)39131 (15%)
    40-49 Yrs1801 (10%)12387 (10%)26324 (10%)
    50-59 Yrs1851 (10%)14479 (11%)31193 (12%)
    60-69 Yrs987 (5%)11422 (9%)25918 (10%)
    70+ Yrs509 (2%)8283 (6%)20580 (8%)
    Median HH Income$51,328$40,966$46,151
    Total Household Income< 24K2424 (26%)16881 (33%)29031 (29%)
    25-49K2004 (21%)11684 (23%)24229 (24%)
    50-74K1913 (20%)8256 (16%)17450 (17%)
    75-99K1178 (12%)4803 (9%)10254 (10%)
    100-199K1255 (13%)6083 (12%)14100 (14%)
    200K+353 (3%)1960 (3%)4657 (4%)
    Highest Education LevelNo Diploma12851212824842
    Diploma or GED19741945541898
    Some College18131610233180
    Assoc. Degree692487110717
    Bachelors Degree40461817937078
    Higher Degree28261140223679
    Total Housing Units10,20856,188110,593
    --Owner-Occupied1,55017,45843,243
    --Renter-Occupied7,57732,20956,478
    Owner-Occupied Values< 100K17635816704
    100-199K436661917024
    200-299K36331738243
    300-399K21116454618
    400-499K1098412432
    500K+25616004222
    Total Working Age Population15,967105,233205,662
    In Work Force11,82368,905136,927
    Not In Work Force4,14436,32968,735
    Workforce Employed11,43763,835127,478
    Workforce Unemployed2974,6708,854
    Civlian Workforce11,73468,505136,331
    Military Workforce89399596
    Total Households9,12749,66699,720
    Family Households2,38119,65644,832
    Non-Family Households6,74730,01054,889
    Married Couple1,3759,27923,766
    Other Family1,00610,37721,066
    Married w/Child2702,4257,519
    Single Male w/Child847141,468
    Single Female w/Child3954,5008,513

    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
    King William County13,146+2115,935+817,167+1119,011
    Richmond city197,790+3204,214+14232,533+6245,483

    Total Working Age Population:

    Total Households:

    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 1731 East Main Street in Richmond?
    The asking price for 1731 East Main Street is $3,490,000
    What is the building size of this Multifamily property in Richmond, VA?
    The size of the building/unit at 1731 East Main Street in Richmond is 21,359 square feet
    How much land does the Richmond, VA property at 1731 East Main Street include?
    1731 East Main Street in Richmond includes 0.407 acres of land
    What is the population within 1 mile of 1731 East Main Street in Richmond?
    The population within 1 mile of 1731 East Main Street Richmond, VA 23223 is 17,818 people.
    Who do I contact for questions about 1731 East Main 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) 6
    Newport News Williamsburg International Airport (PHF) 58
    Norfolk International Airport (ORF) 81