2614 W Cary ST new Save Request In-Person Tour Request Virtual Tour
Richmond,VA 23220
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,808 sqft
Price per Sqft $230
MLS Listing ID 2526765
Construction Status Approximate
HOA Y/N No
Year Built 1900
Lot Size 7,156 Sqft
Acres 0.1643
Property Description
**PRIME INVESTMENT OPPORTUNITY - 5.8% CAP RATE**
Fully renovated mixed-use building on high-traffic West Cary Street. Turn-key investment with established cash flow and built-in growth.
**FINANCIAL HIGHLIGHTS:**
- $1,800,000 asking price
- 5.8% cap rate
- 7,808 SF approx.
- 100% occupied
- $122,878 projected 2026 income
- 1% annual escalations through 2029
**TENANTS:**
TBT El Gallo (Mexican restaurant) and Tequila & Deadlifts (boutique fitness) provide complementary businesses with dedicated customer bases. Both have leases through 2029 with renewal options.
**PROPERTY FEATURES:**
Complete renovation 2016-2018 included electrical, plumbing, HVAC replacement. Recent roof improvements 2024. Two-story structure with flexible layouts, excellent street visibility, large windows, outdoor patios, loading access.
**LOCATION:**
West Cary Street offers strong pedestrian/vehicle traffic. Prime residential neighborhoods nearby support local businesses. Walk Score 96. Proximity to downtown Richmond.
**INVESTMENT BENEFITS:**
Passive income opportunity with minimal future CapEx due to recent renovations. Established tenant relationships provide predictable cash flow. Mixed lease structure reduces risk. Richmond's growing economy and millennial population support continued demand for restaurant/fitness concepts.
Property positioned for stable returns with appreciation potential in dynamic commercial corridor.
Location
State VA
County Richmond City
Area 10 - Richmond
Interior
Cooling Central Air
Exterior
Roof Type Flat
Topography Level
Handicap Access Accessibility Features
Building
Lot Description Level
Building Description Block, Multi-Tenant,No Elevators
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Block
Construction Status Approximate
Others
Tax ID W000-1160-030
Ownership Investment