201 Franklin StRichmond, VA 23219

Property Details for 201 Franklin St

Year built

1986

Construction

TYPE NOT SPECIFIED

Lot size

0.45 AC

Property size (Sq ft)

21,486 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Office properties

Property subtype

Other office properties

APN

W-000-0047-001

APU

W0000047001

Description

This unique 24,659 square foot free-standing office building, formerly the Richmond Fire Department headquarters, presents a compelling investment opportunity in the Central Business District. The two-story Class B building, constructed in 1986, offers a blend of traditional and creative office space, ideal for a single tenant. The property boasts 35 on-site parking spaces, a significant advantage in the downtown core, and is conveniently elevator-served. Its prominent location offers excellent building signage opportunities. The 0.45-acre lot provides ample surface parking, a rare find in this submarket. Local ownership and management ensure responsive service and a commitment to the property's long-term success. The building's proximity to the riverfront adds to its appeal and enhances its desirability. This is a rare chance to acquire a substantial, well-located office building with significant parking in a thriving downtown area. The property's history and unique character offer a distinctive opportunity for a discerning buyer. Further details regarding pricing are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $4,742,212

  6.5%

  $4,377,427

  7%

  $4,064,754

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,588,377

  Geo Method

  $3,588,377

• Alternative Use

  Use

  Valuation

  Residential

  $5,428,010

  Hospitality

  $4,972,028

  Educational

  $4,136,668

  Medical

  $4,278,935

  Retail

  $6,434,818

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5424

Longitude

-77.4417

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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