For Sale
Clay Suites – Investment Sale
3117 West Clay Street Richmond Virginia 23230
Asking$5,200,000
For Sale
3117 West Clay Street Richmond Virginia 23230
One South Commercial is pleased to present for sale the office building located at 3117 West Clay Street. Take advantage of this incredible opportunity to buy a cash flowing asset at an attractive cap rate in the heart of Scotts Addition. Current ownership renovated the property in 2020 and has been fully occupied with a stable tenant base ever since.
All leases are NNN protecting the new owner from increased cost or tax assessments. Rents are arguably below market for this location with excellent parking. Opportunities like this don’t come around often.
ABOUT SCOTT’S ADDITION
Scott’s Addition is one of Richmond’s most vibrant and rapidly evolving neighborhoods, known for its dynamic blend of historic charm and modern innovation. Once an industrial district, it has transformed into a thriving hub for creative businesses, award-winning breweries, popular restaurants, luxury apartments, and boutique fitness studios. The area’s adaptive reuse of historic warehouses and factories has attracted a diverse mix of tenants—from tech startups and design firms to retail brands and entertainment venues—making it a sought-after destination for both locals and visitors.
With excellent access to I-95, I-64, and the Downtown Expressway, Scott’s Addition offers unbeatable connectivity while maintaining a walkable, energetic urban atmosphere. Its proximity to the Fan, Museum District, and Downtown Richmond further enhances its appeal. Whether you’re an investor, business owner, or developer, Scott’s Addition represents a prime opportunity to be part of Richmond’s continued growth in one of its most desirable and forward-thinking neighborhoods.
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.
Mark R. Merhige was born and raised in Richmond, Virginia and attended the Collegiate School, Randolph-Macon College & VCU. He brings more than 35 years of specialized real estate experience as a founder, principal, manager and consultant across numerous organizations.
Mark is a pioneer of RVA’s urban redevelopment, forming the pre-cursor to Shockoe Properties in 1986 and creating some of the first warehouse lofts in downtown Richmond – the majority of which are in the Shockoe Slip Historic District. He has since been involved in the development of over $70 million of mixed use and apartment projects and continues to own and manage many of these properties which include apartments, restaurants, retail and
commercial space.
He loves spending time with his wife, Laura, their four children, Sayre, Mark, Jr, Mariah, and Alex. When he’s not toiling away behind a desk, you can find him back home on the farm communing with his cow and horse brethren.
Chris is a Richmond native and industry veteran with extensive experience in real estate investment and development. For 13 years he served as Principal and in-house Broker with Riverstone Properties, managing and growing a diverse portfolio for one of Virginia’s prominent families. This provided the opportunity to work in all sectors of commercial real estate.
Prior to joining Riverstone, Chris served as a Vice President and Project Manager with East West Partners of Virginia for 10 years. He holds an MBA with a concentration in Real Estate Development from VCU and an undergraduate degree from East Carolina University.
In 2024, Chris started his consulting company, Double C Real Estate, and joined One South Commercial as an Associate Broker to draw on his experience and help families, businesses and investors evaluate, optimize and grow their commercial real estate holdings.
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
