700 Franklin StRichmond, VA 23219

Property Details for 700 Franklin St

Year built

1951

Construction

TYPE NOT SPECIFIED

Lot size

0.53 AC

Property size (Sq ft)

94,170 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Residential income properties

Property subtype

High-rise multifamily apartments

APN

W-000-0003-021

APU

W0000003021

Description

This exceptional office opportunity is situated at 700 E Franklin St in Richmond, Virginia, within the vibrant Central Business District. Located on the first floor of the Edison Apartments, a 174-unit multi-family complex, this Class B building offers immediate access to key city landmarks. The property boasts a total of 94,170 square feet, spread across a single story, and was constructed in 1951. Currently, there are 15,488 square feet of vacant space available, divisible into units as small as 3,061 square feet, with a maximum contiguous space of 7,320 square feet. The building is comprised of three total suites, providing flexibility for various business needs. Its convenient location places it within easy walking distance of the State Capitol, Richmond Courthouse, City Hall, other government agencies, and the VCU Medical Campus. This prime location offers unparalleled accessibility and visibility, making it an ideal choice for businesses seeking a prestigious and well-connected address in Richmond's thriving downtown core. The property's proximity to major transportation routes and amenities further enhances its appeal. This is a rare opportunity to secure high-quality office space in a highly desirable location. The address is 700 E Franklin St, Richmond, VA 23219, in Richmond County.

• CAP approach

  CAP return

  Valuation

  6%

  $25,772,960

  6.5%

  $23,790,424

  7%

  $22,091,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,377,364

  Geo Method

  $24,377,364

• Alternative Use

  Use

  Valuation

  Residential

  $23,790,424

  Hospitality

  $21,791,902

  Educational

  $18,130,606

  Medical

  $18,754,146

  Retail

  $28,203,166

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5401

Longitude

-77.4367

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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