Owner Occupant Or Office Investment
5 East Franklin Street Richmond Virginia 23219
$1,200,000
Constructed in 1890 as a single family home, this executive office building is a one-of-a-kind property located in Richmond’s historic Monroe Ward neighborhood. Totaling 8,096 square feet, this stately building features a finished English basement, restrooms, conference room, kitchen, and individual private offices with many unique, original finishes. The English basement can be included in the total square footage for one user or can easily be leased to a second tenant. Additionally, there is off-street parking available in the rear of the property. Currently home to a team of attorneys, future owner occupants or tenants will have a statement office in this impressive building. The property’s R-3 zoning allows for a variety of uses. Uniquely positioned within the city, 5 E Franklin St is bordered by Virginia Commonwealth University from both the east and west. The property is a short distance to City Hall, the Virginia State Capitol and several courts buildings. This vibrant Monroe Ward neighborhood is walkable to local coffee shops, stores, restaurants and public transit; highly desirable to any office user.
ABOUT MONROE WARD
Monroe Ward (commonly known as “Midtown”) is a historic neighborhood located between Richmond’s Fan District and Central Business District. The city has targeted Monroe Ward for development in recent years by changing zoning, allowing for higher density and less parking. This neighborhood not only is home to the renowned Jefferson Hotel, but is sought after due to its close proximity to VCU, Gambles Hill Park, and Brown’s Island – a popular riverfront park along the James River. With a “Walk Score” of 98, this building has easy access to a number of dining, lodging, and entertainment options, and couldn’t be a better fit for an owner occupant looking to experience all that Richmond has to offer.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
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
