1600 Altamont AveRichmond, VA 23230

Property Details for 1600 Altamont Ave

Year built

2004

Construction

TYPE NOT SPECIFIED

Lot size

0.38 AC

Property size (Sq ft)

6,000 SF

Zone code

M-1 LIGHT INDUSTRIAL

Property type

Office properties

Property subtype

Office buildings

APN

N-000-1597-006

APU

N0001597006

Description

This exceptional 7,200 square foot retail space, situated on a 0.385-acre lot at 1600 Altamont Ave in Richmond, Virginia (zip code 23230), presents a unique opportunity for a single-tenant business. Previously utilized as a catering kitchen for a prominent local restaurant group, this two-story building offers ample space for a variety of uses, including restaurants and other retail establishments. The property boasts 21 on-site parking spaces, a significant advantage in a vibrant area largely reliant on street parking. This prime location at the corner of Altamont Avenue and West Moore Street, just north of Moore Street Café, places the property in the heart of Scott's Addition, Richmond's renowned "Beverage District," home to over 50 restaurants, bars, and breweries. Its proximity to Arthur Ashe Boulevard, I-64, and the new Diamond District development further enhances its appeal. The building's 7,200 square feet of vacant space provides significant flexibility for a variety of layouts and designs, allowing for the creation of a truly unique and successful business. The ample parking can be utilized for customer parking or potentially expanded to create outdoor patio space, a popular feature among the area's restaurants. This is a rare opportunity to establish a presence in one of Richmond's most sought-after and dynamic neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $1,382,036

  6.5%

  $1,275,726

  7%

  $1,184,602

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,002,060

  Geo Method

  $1,002,060

• Alternative Use

  Use

  Valuation

  Residential

  $1,581,900

  Hospitality

  $1,449,012

  Educational

  $1,205,561

  Medical

  $1,247,022

  Retail

  $1,875,317

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5676

Longitude

-77.4691

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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