7 N 18th Street, Richmond, VA 23223

Property Description

7–9 North 18th Street represents an incredible opportunity to own and redevelop a significant piece of historic Shockoe Bottom. Currently in shell condition, the building offers a blank canvas for investors and developers seeking to create a transformative project in one of Richmond’s most dynamic neighborhoods. With three entrances along North 18th Street, the property provides strong frontage and design flexibility, while its B-5 zoning supports development up to five stories in height with multifamily permitted by right — a rare combination that positions the asset for a wide range of high-impact uses. Further enhancing its appeal, a Special Use Permit approved in 2025 allows for the construction of a 17-space parking garage within the building, accessed from the alley off 18th Street — a unique and highly valuable entitlement in an urban setting where parking is at a premium. This approval can be integrated into a larger multi-story residential or mixed use development or executed as a standalone, income-producing parking facility. Alternatively, the property is well-suited for retail or other commercial redevelopment, capitalizing on the neighborhood’s continued growth and energy. Don’t miss this rare chance to acquire a large historic asset on North 18th Street and bring a visionary project to life in the heart of Shockoe Bottom.