For Sale · Blank Slate for Retail, Office or Multifamily
Redevelopment Opportunity in Historic Shockoe Bottom
7 North 18th Street Richmond Virginia 23223
Asking$595,000
For Sale · Blank Slate for Retail, Office or Multifamily
7 North 18th Street Richmond Virginia 23223
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.
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.
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.
Ann Schweitzer Riley has become a distinguished figure in commercial real estate, focusing primarily on sales of urban commercial properties, including office spaces, retail locations, multi-family buildings, industrial facilities, and mixed-use developments. With a rich background that spans over a decade, Ann has developed a keen expertise in property sales, investment, and development.
A graduate of UVA, Ann’s journey in real estate began as a residential real estate appraiser in Charlottesville, VA. Her career path led her to roles as a legal assistant and later to Richmond in 2008, where she worked with an affordable housing nonprofit. There, she gained a passion for construction and real estate development. This foundation allowed her to excel as a real estate construction project manager and later as a corporate commercial sales agent.
Today, at One South Commercial, Ann is renowned for her sharp insights in market trends, her strategic approach to property disposition, and her ability to optimize asset value for her clients. Her comprehensive understanding of both residential and commercial real estate markets, combined with her specific expertise in commercial sales, makes her an invaluable partner to property owners and buyers alike.
Ann’s commitment to her clients and her profound market knowledge ensure tailored, effective strategies for those looking to invest in or divest commercial real estate assets.
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