Mixed Use Restaurant Building in Shockoe Bottom | Owner Occupant Opportunity with Off-Street Parking
19 North 18th Street Richmond Virginia 23223
$699,000
One South Commercial is pleased to present 19 & 21 N 18th St. This corner retail, mixed-use opportunity offers a rare and unique investment for any Richmond restaurant operator seeking to own and operate in the historic Shockoe Bottom neighborhood. Just a block from the city’s recently renovated 17th St Farmers Market pedestrian plaza, 19 and 21 N 18th St are situated prominently on the southeast corner of E. Franklin and N 18th St, offering impressive visibility, accessibility, and stature in one of the city’s oldest neighborhoods.
The property consists of two (2) parcels: 21 N 18th St, a 6-car surface lot, and 19 N 18th St, a 2,800 SF 2 story, mixed-use building. 19 N 18th St is comprised of a well-established, ground-floor retail restaurant space and an updated, spacious 2-bedroom apartment on the second floor. The restaurant space features a cozy dine-in space, large bar, and full kitchen. The second-floor, 2-bedroom apartment possesses an open living/dining concept, second-floor balcony, painted brick walls, washer/dryer in unit, private entry on N 18th St, and central air. The unit is currently under market rent for the neighborhood and provides some excellent upside for any incoming buyer to increase the property’s cash flow and offset expenses.
This property’s distinctive historic location and modern functionality make an excellent opportunity to own and invest in an up and coming part of Richmond’s historic urban core.
ABOUT SHOCKOE BOTTOM
Shockoe Bottom is one of Richmond’s oldest and most historic neighborhoods. Today, as a center for lively businesses and entertainment venues, Shockoe Bottom is home to some of Richmond’s most well-known shops and restaurants. In addition, Shockoe Bottom is also a popular residential area for those who choose an urban lifestyle where they can combine the best aspects of city-living.
Richmond’s iconic Main Street Station and the 17th St Farmers Market are famous landmarks in this neighborhood. The central business district, VCU Medical Center, and VA Bio+Tech Park are also within walking distance of this neighborhood. This proximity to some of the region’s largest employers and institutions makes Shockoe Bottom a popular residential area for students and young professionals. This demand can be seen in the number of new and renovated multifamily residential units that have been constructed in the past 20 years. Former tobacco warehouses have been converted to join new construction in providing some of the City’s most
distinctive urban apartments. Historically the hub for Richmond’s shipping and commerce, the area played a major role in trade throughout the 18th and 19th centuries. Until the end of the American Civil War in 1865, this commerce included the human trade as Shockoe Bottom was the second largest slave trading center in the U.S. In 2007, a 15-foot, half-ton bronze sculpture named the Richmond Slavery Reconciliation Statue was unveiled as part of the Richmond Slave Trail to raise awareness and increase informational accuracy about Richmond’s role in the slave trade. This memorial sits not far from the former slave market in Shockoe Bottom.
The One South Commercial team has a wide variety of real estate experience between them, and much of that comes from Ann Schweitzer Riley. After graduating from UVA, Ann began exploring real estate from every angle, first as a residential real estate appraiser in Charlottesville, VA. After holding that role and spending some time as a legal assistant, Ann relocated to Richmond in 2008 to work with an affordable housing nonprofit. There, she discovered a new passion for construction and real estate development. This led her to begin a journey to a career in commercial real estate. She worked as a real estate construction project manager and a corporate commercial leasing agent before bringing her talents to One South Commercial as a commercial leasing agent.
Ann’s main focus is urban commercial properties, which includes office, retail, multifamily, industrial, and mixed use properties. Her experience representing commercial property owners, buyers, landlords, and commercial tenants along with her expertise in property investment, development, and leasing makes Ann a standout partner. Her experience in both residential and commercial product applications as well as in commercial sales and leasing provide an unmatched foundation for her expertise in use, property disposition, redevelopment, and asset/product optimization.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
