733 W Cary Street, Richmond, VA 23220

$790,000
Sold Price
$790,000
List Price
$775,000
Days on Market
38
Closing Date
Jun 17, 2021
MLS#
CVR-2105732
Status
CLOSED
Type
Commercial
Year Built
1900
County
Richmond City
Region
10 - Richmond

Property Description

A rare opportunity for an investor/developer to buy a vacant building right across the street from the VCU campus and develop it to its highest and best use. Situated at the fringe of the campus, this building sits amongst new construction apartment and retail developments and is steps from the Business-Engineering School. A buyer can take advantage of numerous incentive programs to supplement the development, including but not limited to the following: Federal Historic Rehabilitation Tax Credits, State of VA Historic Rehabilitation Tax Credits, The State of VA Enterprise Grant Program The building consists of 6,664 SF and has two storefronts that can be used as one space or can be divided into two spaces. It has been used as a restaurant for the past 20 years. It can return to that use or an office or a different retail can move in. The seller has a full set of construction plans to turn the upstairs spaces into 3 apartments. Those plans will be conveyed to the buyer. It is zoned B-3 and was built circa 1900. The area is almost fully developed, so this opportunity allows an investor to get into the neighborhood at a reasonable cost and be part of the VCU – Oregon Hill story.

Additional Information

Acres
0.09
Roof
Metal
Cooling
Central Air
Stories
2
Construction Materials
Brick
Water
Public
Sewer
Septic Tank
Buyer Agency Compensation
3.00
Buyer Agency Compensation Type
%

Mortgage Calculator

Amount of Loan
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Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of One South Realty Group, LLC. Selling Office: Exit First Realty.

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