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2500 E Marshall Street

Redevelopment Opportunity | Richmond, VA

Listing Contacts

Active

Asking Price: $1,500,000
Address 

2500 E Marshall St, Richmond, VA 23223

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Date Added
Aug 1, 2023
Days on Market
597 days
Time Since Last Update
37 days

Details

Property TypeMixed Use, Multifamily, Office
SubtypeApartment Building, Creative Office
Investment TypeRedevelopment
TenancyVacant
Square Footage13,695
Net Rentable (sq ft)13,695
Price/Sq Ft$109.53
OccupancyVacant
Year Built1917
Buildings1
Stories3
ZoningR0-2-PE2
Lot Size (acres)0.29
Broker Co-OpYes

Marketing Description

THE OFFERING

Range Commercial Partners is pleased to present for sale 2500 E Marshall Street, Richmond, VA.​ Built in 1917, the property served as one of the oldest funeral homes in Richmond, Billups Funeral Home, for over 100 years and still bares the original, historic signage.​ Its location in the newly revitalized historic Church Hill neighborhood makes it the ideal site for multiple adaptive reuses including multi-family, student housing, office, or mixed use.​ The property consists of 13,695 SF of existing improvements on 0.29 acres and includes a surface lot, a garage, and a sub-basement.​

The property is located in the Church Hill North City Old & Historic District and qualifies for Historic Tax Credits.​ The property was most recently home to Billups Funeral Home which until recently had occupied the property since 1925, one of the oldest funeral homes in Richmond and the first fully air conditioned funeral home in Virginia.​ The building still bares the signage of its original user and is well known within the community having doubled as a gathering place for many generations.​ Under the existing zoning, residential or office uses are allowed and as mentioned, the property is parking exempt even though it has ample off street parking.​ The main portion of the building lends itself to housing while the garage would make a unque commercial space.​ Given its proximity to Shockoe Bottom, Rocketts Landing and Manchester, visibility within the community, and considering all of the new development in the immediate area, the site is ideal for multiple adaptive reuses including multifamily, student housing, office and mixed use.​

Investment Highlights

  • Off street Parking with rear alley access

  • Located within walking distance of Shockoe Bottom and dozens of local restaurants and businesses

  • Proximate to Union Hill, Rockets Landing, Manchester and Shockoe Bottom

  • Surrounded by historical homes, churches and parks 

  • Easy Access to the Downtown Expressway and I-95

  • Zoned R0-2-PE2 (Residential Office Parking Exempt)

  • Future Uses include Apartments

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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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Listing Contacts


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Broker Information
Broker Name
Hamilton Shaheen
Broker License
VA VA 0225232446
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