10 Crenshaw AveRichmond, VA 23221

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 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.

• 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

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

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