10 Crenshaw AveRichmond, VA 23221

  • Retail properties
  • 4,058 SF
For Lease
$25/SF/YR View listing

Property Details for 10 Crenshaw Ave

Year built
1924
Construction
TYPE NOT SPECIFIED
Lot size
0.07 AC
Property size (Sq ft)
4,058 SF
Zone code
UB-PO2 PARKING OVERLAY
Property type
Retail properties
Property subtype
Retail space
APN
W-000-1592-020
APU
W0001592020

Description

This two-story, 4,058-square-foot commercial property at 10 South Crenshaw Avenue, located in Richmond's vibrant Carytown submarket, presents a unique opportunity for retail or office tenants. Situated just off West Cary Street, this location offers the benefits of Carytown's bustling atmosphere without the premium rent of a Cary Street address. The building features a flexible layout, currently offering 4,058 square feet of vacant space divisible to a minimum of 360 square feet. The first floor boasts a previously established salon setup with a large adaptable room, suitable for retail or office use. The second floor includes a small suite with a reception area, two treatment rooms, and an apartment. A basement provides additional space ideal for storage or administrative offices. Separate entrances allow for partial leasing options. The property's zoning is B-4. While on-site parking is not available, a nearby public parking deck provides convenient access. The building's previous tenant, a successful local business, highlights the location's potential for growth and profitability within Carytown's diverse and established commercial environment. This property is move-in ready and offers a chance to establish or expand a business in a high-traffic area known for its eclectic mix of boutiques, cafes, and specialty stores. The adaptable space allows for customization to suit various business needs.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,316,486
    6.5%
    $1,215,218
    7%
    $1,128,416
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,707,871
    Geo Method
    $1,707,871
  • Alternative Use

    Use
    Valuation
    Residential
    $1,025,082
    Hospitality
    $938,969
    Educational
    $781,211
    Medical
    $808,078
    Retail
    $1,215,218
10 Crenshaw Ave, Richmond, Virginia

Location Insight

City
Richmond
County
Richmond City
State
Virginia
Latitude
37.5554
Longitude
-77.4849
CBSA code
40060
CBSA name
RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$20
$172,000
$423,000
$595,000
-
$172,000
$423,000
$595,000

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