Vacant Jiffy Lube - Richmond, VA
Former Jiffy Jube | Value-add or Owner/User
Marketing description
Richmond, Virginia is a dynamic regional hub in Central Virginia, known for its diversified economy, historic character, and growing population. As the state capital, the city benefits from strong employment anchors in government, healthcare, finance, education, and logistics, supported by institutions such as Virginia Commonwealth University and a growing professional services sector. Its affordability relative to Northern Virginia and proximity to Washington, D.C., continue to attract residents and businesses.
Real estate fundamentals in Richmond remain solid, driven by steady population growth and demand across multifamily, industrial, and healthcare sectors. Industrial and logistics assets benefit from the city's strategic location along I-95 and access to the Port of Virginia, while residential demand is supported by in-migration and job growth. Overall, Richmond offers long-term stability and attractive growth potential within the Mid-Atlantic region.
Investment highlights
- Rare Second-Generation Auto Service Opportunity — Well-maintained automotive service property offering the potential for immediate occupancy or backfill by a new operator, reducing downtime and minimizing conversion costs.
- Flexible Redevelopment & Repositioning Potential — Zoned to accommodate a wide range of commercial uses, including retail, restaurant, office, automotive, service, hotel/motel, commercial parking, and other permitted uses. Contact broker for zoning details and permitted uses.
- Strong Surrounding Demographics — Serving a population of approximately 200,000 residents within a five-mile radius, supported by continued residential growth and a well-established consumer base.
- Excellent Retail Synergy — Surrounded by nationally recognized retailers and daily traffic generators, including Wawa, 7-Eleven, Dollar Tree, CITGO, CVS, Taco Bell, and numerous additional national brands.
- Fee Simple Ownership — Investors acquire fee simple ownership of both the land and improvements, providing complete control of the real estate.
- High-Traffic Commercial Corridor — Positioned along North Laburnum Avenue, which carries approximately 28,000 vehicles per day, providing outstanding visibility and convenient customer access.
- Prime Richmond Location — Located within the Richmond metropolitan area, Virginia's capital and one of the Mid-Atlantic's strongest economic and commercial markets, benefiting from a diverse employment base and continued population growth.
- Potential Tax Benefits — Automotive service properties may offer opportunities for accelerated depreciation and other tax advantages. Prospective buyers should consult their tax and accounting advisors regarding their specific circumstances.
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