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2614 W Cary Street, Richmond, VA 23220 (MLS # 2526765)

Price $1,800,000
Status Active
Size 7,808 sqft
Lot Size 7,157 sqft
Days on Market 77
**PRIME INVESTMENT OPPORTUNITY - 5.8% CAP RATE** Fully renovated mixed-use building on high-traffic West Cary Street. Turn-key investment with established cash flow and built-in growth. **FINANCIAL HIGHLIGHTS:** - $1,800,000 asking price - 5.8% cap rate - 7,808 SF approx. - 100% occupied - $122,878 projected 2026 income - 1% annual escalations through 2029 **TENANTS:** TBT El Gallo (Mexican restaurant) and Tequila & Deadlifts (boutique fitness) provide complementary businesses with dedicated customer bases. Both have leases through 2029 with renewal options. **PROPERTY FEATURES:** Complete renovation 2016-2018 included electrical, plumbing, HVAC replacement. Recent roof improvements 2024. Two-story structure with flexible layouts, excellent street visibility, large windows, outdoor patios, loading access. **LOCATION:** West Cary Street offers strong pedestrian/vehicle traffic. Prime residential neighborhoods nearby support local businesses. Walk Score 96. Proximity to downtown Richmond. **INVESTMENT BENEFITS:** Passive income opportunity with minimal future CapEx due to recent renovations. Established tenant relationships provide predictable cash flow. Mixed lease structure reduces risk. Richmond's growing economy and millennial population support continued demand for restaurant/fitness concepts. Property positioned for stable returns with appreciation potential in dynamic commercial corridor.
Property Type(s): Commercial
Last Updated 9/22/2025 Year Built 1900
Community 10 - Richmond County Richmond City

Additional Details

AIR Central Air
AIR CONDITIONING Yes
AREA 10 - Richmond
CONSTRUCTION Block
INTERIOR MultiTenant, NoElevators
LOT 7157 sq ft
LOT DESCRIPTION Level
SEWER Public Sewer
STORIES 2
WATER Public

Location

 

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Listed with Sperity Real Estate Ventures

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Last Updated: 12/7/25 6:04 PM PST

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