1525 Front St, Richlands, VA 24641
10,195 SF | 100% Leased | Retail Building | Richlands, VA 24641 | $150,000 ($15/SF) | 14.40% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $150,000
- Property Type
-
Retail
- Square Feet
- 10,195 SF
- Price / Square Foot
- $15
Listing Contacts
David Burks
Verified Profile
- Property Info
Property Overview
Nestled amidst the breathtaking Appalachian Mountains, Coldwell Banker Commercial BRE proudly presents an exceptional investment opportunity in the bustling heart of downtown Richlands, VA. Located at 1525 Front St, the main thoroughfare through downtown, this 10,195 sq ft commercial building is a prime prospect for savvy investors.
The ground floor boasts two well-maintained retail spaces: a 2,552 sq ft hair salon and a 2,289 sq ft boutique store. Both units are in excellent condition, with one featuring a brand-new HVAC system and the other recently serviced. Above, the 4,417 sq ft second floor offers unfinished space, originally designed for offices but ideal for conversion into apartments—a significant value-add given the local housing shortage.
Recent structural inspections by Tazewell County authorities confirm the building's soundness, providing peace of mind to prospective buyers. This property is offered at a competitive 14% CAP rate, making it a compelling investment in a vibrant community.
Don't miss out on this unique opportunity to invest in a prime location with substantial value-add potential!
The ground floor boasts two well-maintained retail spaces: a 2,552 sq ft hair salon and a 2,289 sq ft boutique store. Both units are in excellent condition, with one featuring a brand-new HVAC system and the other recently serviced. Above, the 4,417 sq ft second floor offers unfinished space, originally designed for offices but ideal for conversion into apartments—a significant value-add given the local housing shortage.
Recent structural inspections by Tazewell County authorities confirm the building's soundness, providing peace of mind to prospective buyers. This property is offered at a competitive 14% CAP rate, making it a compelling investment in a vibrant community.
Don't miss out on this unique opportunity to invest in a prime location with substantial value-add potential!
Property Details
- Year Built
- 1936
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential
Highlights
- Investment Opportunity: 14% CAP Rate plus Value Add
- Mixed use. Retail on the bottom and residential on the top
- Prime Location on Front St. in the heart of town
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