112 8Th StRichmond, VA 23219

Property Details for 112 8Th St

Year built

1950

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

100,256 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Retail properties

Property subtype

Parking lots & garages

APN

W-000-0003-010

APU

W0000003010

Description

This exceptional 4,708-square-foot single-tenant office space is ideally situated in Richmond's Central Business District (CBD), at 112 N 8th Street, between Grace and Franklin Streets. The property boasts a Class B designation and offers excellent visibility and high traffic counts, making it perfect for a variety of businesses. Its versatile nature allows for use as executive, medical, or creative office space. The building's total square footage is 4,708 square feet, with the entire space currently vacant and ready for immediate occupancy. This prime location offers unparalleled convenience, being within walking distance of key landmarks including the Virginia State Capitol and U.S. Court Buildings, the Dominion Energy Center, the Greater Richmond Convention Center, and the VCU Medical Campus. The property is classified as Retail, Office, and Special Purpose, providing flexibility for a range of potential tenants. The address is 112 N 8th Street, Richmond, VA 23219. This presents a unique opportunity to establish a presence in a thriving and highly accessible area of Richmond's downtown core. The property's location ensures high visibility and easy access for clients and employees alike. The single-tenant occupancy provides a unique opportunity for a business seeking a prominent and well-located space.

• CAP approach

  CAP return

  Valuation

  6%

  $32,528,054

  6.5%

  $30,025,896

  7%

  $27,881,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $42,194,260

  Geo Method

  $42,194,260

• Alternative Use

  Use

  Valuation

  Residential

  $25,327,966

  Hospitality

  $23,200,280

  Educational

  $19,302,362

  Medical

  $19,966,200

  Retail

  $30,025,896

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5402

Longitude

-77.4363

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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