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$ 639,900
Est. payment /mo
Active
108 N 7th ST Richmond, VA 23219
2,520 SqFt
UPDATED:
02/04/2025 07:08 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,520 sqft
Price per Sqft $253
MLS Listing ID 2501663
Construction Status Actual
HOA Y/N No
Year Built 1917
Lot Size 2,613 Sqft
Acres 0.06
Property Description
An exceptional opportunity to own a fully renovated mixed-use property, strategically located, versatile investment opportunity with strong income potential. Perfect for an owner-user or investor. This 2,520 SF building, excluding the unfinished basement, features a first-floor retail/office space (1260 SF) and two residential apartment units on the second floor. The front apartment Unit #1 (550 SF) is currently vacant, while the back apartment Unit #2 (600 SF) is leased $1,200 per month, w/ the tenant vacating 4/30/25. The area is supported by a strong mix of commercial office buildings and residential apartments, consistent foot traffic & visibility. Blocks away from restaurants, bars, and cafés. 10-minute walk, to VCU Hospital, Brown's Island, Belle Isle's scenic riverfront walking paths, and the highly anticipated outdoor concert amphitheater currently under development. 5 minute drive to VCU Campus. Built in 1917, full renovation 2016, including structural upgrades from the joists up. Roof membrane replaced in 2017, seam sealing completed in 2022. 2020 property underwent building-wide waterproofing, including the 3 permanent dehumidifiers, and sump pump. Retail HVAC blower replaced in Feb 2024 for improved climate control. The property is equipped with 4 electrical meters—one for each unit and a separate house meter servicing shared utilities such as hot water & dehumidifiers. Luxury plank vinyl flooring on the first level, floor outlets for added convenience, & fresh paint throughout. Recent exterior improvements include a new mortar brick back patio and wall, a fresh coat of exterior paint, a new awning at the front entrance, and a newly installed metal roof over the back patio. The main roof was also re-sealed, with 4 TPO vents added for improved ventilation. Property includes dedicated rear parking for two vehicles with direct access to the building's back entrance. All apartment appliances convey, including washer, dryer, dishwasher, refrigerator, as well as 3 affixed dehumidifiers & 2 portable units.
Location
State VA
County Richmond City
Area 10 - Richmond
Interior
Heating Electric, Forced Air, Individual, Other, Wall Furnace
Cooling Central Air
Exterior
Roof Type Flat
Topography Level
Handicap Access Accessibility Features
Total Parking Spaces 2
Building
Lot Description Level
Building Description Brick, No Elevators,Single-Tenant
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick
Construction Status Actual
Others
Tax ID W000-0008-012
Ownership Investment,Owner-User
Listed by Liz Moore & Associates