306 Libbie AveRichmond, VA 23226

Property Details for 306 Libbie Ave

Year built

1922

Construction

WOOD

Lot size

0.19 AC

Property size (Sq ft)

2,161 SF

Zone code

UB-PO1 PARKING OVERLAY

Property type

Turn key restaurants

APN

W-021-0310-012

APU

W0210310012

Description

This exceptional 2,160 square foot restaurant located at 306 Libbie Avenue in Richmond, Virginia, is offered for sale at $1,650,000. Currently operating at 100% occupancy, the property boasts a highly desirable location in the heart of Richmond's premier boutique shopping and dining district. The lease is in place until April 2026, with an option to extend through 2031, providing excellent long-term stability for the investor. The property includes off-street parking, a significant advantage in this vibrant area. Its strategic proximity to key institutions further enhances its appeal. Less than a mile away are the University of Richmond, the Country Club of Virginia, St. Catherine's and St. Christopher's Schools, and St. Mary's Hospital, ensuring a consistent flow of potential customers. This turnkey operation presents a rare opportunity to acquire a thriving restaurant business in a prime Richmond location with a secure lease and strong future prospects. The property's high-end surroundings and established clientele make it an attractive investment for discerning buyers seeking a profitable and well-positioned commercial asset. The zip code is 23226.

• CAP approach

  CAP return

  Valuation

  6%

  $670,140

  6.5%

  $618,591

  7%

  $574,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $909,490

  Geo Method

  $909,490

• Alternative Use

  Use

  Valuation

  Residential

  $521,805

  Hospitality

  $477,970

  Educational

  $397,666

  Medical

  $411,342

  Retail

  $618,591

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5736

Longitude

-77.5186

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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