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123 E Broad Richmond, VA 23220
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2624539
Style Other
Construction Status Approximate
HOA Y/N No
Year Built 1910
Property Sub-Type Multi Family
Property Description
The Jewelry Building, a distinctive mixed-use investment opportunity located at 119–123 E Broad Street in the heart of Downtown Richmond's Broad Street Arts District. Originally constructed in 1910, the historic property was comprehensively renovated in 2007 and transformed into the mixed-use asset it is today. The building has remained under the ownership of the same developer since its renovation, providing a rare opportunity to acquire a well-established property that combines residential income, long-term commercial tenancy, historic character, and dedicated off-street parking. The 22,406-square-foot building features eight spacious apartments above a 6,941-square-foot commercial space. The residential mix includes two oversized 1BD with den residences of approximately 824 square feet each and six expansive 2BD/2BA apartments of approximately 1,108 square feet each. Each residence offers the scale and functionality that distinguish the property from many downtown apartment offerings, along with modern finishes, central air conditioning, and in-unit washers and dryers.The first floor and basement are occupied by Jefferson Loan Office, a FirstCash company and the world's largest operator of pawn stores, providing a substantial commercial income component. FirstCash stands out as one of the most financially sound, recession-resistant companies in the mid-cap specialty finance sector. The commercial premises encompass approximately 6,941 rentable square feet, with the current lease extending through 2031 and providing the tenant with two additional five-year renewal options. The lease also provides for reimbursement of the tenant's proportionate share of real estate taxes and qualifying building operating costs. The offering also includes the adjacent 3,365-square-foot parcel at 216 N 2nd Street, positioned directly behind the main building and improved with eight off-street parking spaces.
Location
State VA
County Richmond City
Area 10 - Richmond
Exterior
Roof Type Flat
Garage No
Building
Story 3
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories Three Or More
Structure Type Brick
Construction Status Approximate
Schools
Elementary Schools Fox
Middle Schools Dogwood
High Schools Thomas Jefferson
Others
Tax ID W0000064010 & W0000064013
Ownership Individuals
Listed by One South Commercial LLC