100-102 Lombardy St, Richmond, VA 23220

4,687 SF | 81% Leased | Retail Building | Richmond, VA 23220 | $1,671,700 ($357/SF) | 5.63% Cap Rate

Asking Price $1,671,700

Property Type: Retail
Square Feet: 4,687 SF
Price / Square Foot: $357

Listing Contacts

Mike Morrow

Verified Profile

Lauren Gerardi

Verified Profile

Property Info

Property Overview

Remarkable, mixed-use property in the heart of the Fan District located at the corner of Lombardy Street and Floyd Avenue. Property consisting of cash-flowing laundromat (commercial unit) and 3 residential apartments. Laundromat business and assets are to be sold with the sale of the real property. Machines are new & utilize the Laundry Boss platform. Purchaser will have the option to continue the business or redevelop. Well maintained and renovated apartment units: Luxurious, 1st level owner's suite (APT 3) consists of hardwood floors, granite kitchen counter tops, and in-unit laundry. 1 Bath,1-BDRM/Studio unit (APT 1) with LVP flooring and walk-in closet off en suite. Large, second-level 3 BDRM 2 full bath unit with newly renovated kitchen, LVP floors and rooftop deck. All utilities for the laundromat are separately metered, residential units share metering for water only and are paid by the landlord. Additionally, a generous storage room is located at the rear of the first level (not included in any unit's measurement) & accessible only by the landlord. Unique opportunity combines option to continue a low-involvement business and passive real estate investment. Gross monthly income is $11,388.

Property Details

Class: C
Year Built/Renovated: 1893/2021
Stories: 2
Property Subtype: Storefront Retail/Residential
Lot Size (sq. ft): 3,485 SF

Highlights

High Demand Location in The Fan District
Nearby Virginia Commonwealth University with Student rental needs
Minimal effort and maintenance with strong income from laundromat business

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