306 Main StRichmond, VA 23219

Property Details for 306 Main St

Year built

1915

Construction

TYPE NOT SPECIFIED

Lot size

0.13 AC

Property size (Sq ft)

6,705 SF

Zone code

B-4 CENTRAL BUSINESS

Property type

Office properties

Property subtype

Office buildings

APN

W-000-0034-022

APU

W0000034022

Description

This exceptional Class A office building, located at 306 E Main Street in Richmond, Virginia, presents a unique investment opportunity. The 7,500 square foot property, situated in the Enterprise Zone, boasts a desirable multi-tenancy setup, perfect for generating strong rental income. The building, a two-story painted brick structure, underwent a complete renovation in 2016, including a new roof with a 20-year warranty. The interior features exposed brick, hardwood floors, and other high-end finishes ideal for creative office spaces. The building also includes a finished basement, providing additional usable space, and a rooftop deck offering stunning city views. The asking price is $1,400,000, translating to a price per square foot of $186.67. The property is listed as a Net-Net-Net (NNN) lease, meaning tenants are responsible for property taxes, insurance, and maintenance. This prime location in Downtown Richmond, with its vibrant atmosphere and convenient access to amenities, ensures strong tenant demand and long-term investment potential. The zip code is 23219.

• CAP approach

  CAP return

  Valuation

  6%

  $1,479,875

  6.5%

  $1,366,038

  7%

  $1,268,464

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,119,802

  Geo Method

  $1,119,802

• Alternative Use

  Use

  Valuation

  Residential

  $1,693,888

  Hospitality

  $1,551,592

  Educational

  $1,290,906

  Medical

  $1,335,302

  Retail

  $2,008,076

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5415

Longitude

-77.441

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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