ONE SOUTH COMMERCIAL FOR SALE | SHOCKOE BOTTOM OFFICE AND MULTIFAMILY 1707 EAST MAIN STREET Richmond VA 23223 $750,000 PID: E0000109004 Ground and Lower Level Office Space 2 Residential Units on Second Level 4,860 SF Office Space B-5 Central Business Zoning Pulse BRT Corridor Location 0.05 AC Parcel Area Opportunity Zone PETERSBURG[1] MULTIFAMILY PORTFOLIO TABLE OF CONTENTS* 3 PROPERTY SUMMARY 4 PHOTOS 2 8 SHOCKOE BOTTOM NEIGHBORHOOD RESIDENTIAL UNITS 10 PULSE CORRIDOR PLAN 11 RICHMOND METRO AREA 12 RICHMOND ECONOMIC DEVELOPMENT OFFICE 13 RICHMOND MAJOR EMPLOYERS 4,860 SF 14 DEMOGRAPHICS 15 ONE SOUTH COMMERCIAL TEAM B-5 CENTRAL BUSINESS ZONING OPPORTUNITY ZONE 2008 RENOVATION Communication: One South Commercial is the exclusive representative of Seller in its disposition of the 1707 E Main St. All communications regarding the property should be directed to the One South Commercial listing team. Property Tours: Prospective purchasers should contact the listing team regarding property tours. Please provide at least 72 hours advance notice when requesting a tour date out of consideration for current residents. Offers: Offers should be submitted via email to the listing team in the form of a non- binding letter of intent and should include: 1) Purchase Price; 2) Earnest Money Deposit; 3) Due Diligence and Closing Periods. 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. 1707 E MAIN ST | RICHMOND VA Office Space and Multifamily in Shockoe Bottom 1707 E Main Street is comprised of two Class A 1bedroom/1bathroom apartments and 4,860 square feet of modern creative office space that is available for lease. This is a perfect opportunity for a business owner-user to capture reliable residential income from the apartments and enjoy high quality office space in the heart of Shockoe Bottom. The apartments are on 12-month leases at $1,200 per month. Asking rent for the office space is $12 per square foot, full-service. The 4,860 SF office offers open space along the street front, two glass-wall enclosed offices, and a kitchen area. Walk up to the mezzanine level to an additional office that opens to the first level by sliding glass walls. The full length lower level also makes ideal additional office or production space and is easily accessible from two separate stairways. 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. VIRTUAL TOUR https://my.matterport.com/show/?m=ok1L83ebM5Q [3] 1707 E MAIN ST | RICHMOND VA VIRTUAL TOUR https://my.matterport.com/show/?m=ok1L83ebM5Q [4] 1707 E MAIN ST | RICHMOND VA VIRTUAL TOUR https://my.matterport.com/show/?m=ok1L83ebM5Q [5] 1707 E MAIN ST | RICHMOND VA VIRTUAL TOUR https://my.matterport.com/show/?m=ok1L83ebM5Q [6] 1707 E MAIN ST | RICHMOND VA [7] 1707 E MAIN ST | RICHMOND VA SHOCKOEPETERSBURG BOTTOM DEMOGRAPHICS* NEIGHBORHOOD 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. Historically the hub for Richmond’s shipping and commerce, the area played a major role in trade throughout the 18th and 19th centuries. Until the end of the American Civil War in 1865, this commerce included the human trade as Shockoe Bottom was the second largest slave trading center in the U.S. In 2007, a 15-foot, half-ton bronze sculpture named the Richmond Slavery Reconciliation Statue was unveiled as part of the Richmond Slave Trail to raise awareness and increase informational accuracy about Richmond’s role in the slave trade. This memorial sits not far from the former slave market in Shockoe Bottom. [8] 1707 E MAIN ST | RICHMOND VA SHOCKOE BOTTOM NEIGHBORHOOD E BROAD ST MAIN ST STATION SHOCKOE SLIP N 17TH ST 17TH ST FARMER’S MARKET N 19TH ST 1707 E MAIN ST SHOCKOE BOTTOM THE POE MUSEUM E MAIN ST S 14TH ST E CARY ST VA HOLOCAUST MUSEUM JAMES RIVER SHOCKOE BOTTOM POPULATION MEDIAN PROPERTY VALUE AREA 2,545 $331,171 129 AC MEDIAN RENT PERCENTAGE RENT VS OWN MED AGE $1,197 87:13 31.3 [9] 1707 E MAIN ST | RICHMOND VA PULSE CORRIDOR PLAN In July 2017, the Richmond City Council approved the Pulse Corridor Plan envisioning the future of development along its new Bus Rapid Transit line running east to west throuigh the City. The Plan’s main purpose was to support a walkable urban environment around the Pulse stations through the adoption of principles, goals, and recommendations. A major component of these recommendations in Shockoe Bottom is to ensure that existing active ground floor uses are complemented by new infill development with street-oriented commercial uses. New development promotes better connections to the Virginia Capital Trail, the Low Line, and other Riverfront amenities and public spaces, while respecting the viewshed of the “view that named Richmond” from Libby Hill Park to the James River. The historic character of the greater neighborhood continues to be a great asset that new development respects and is inspired by, continuing to attract new visitors, residents, and businesses to the area. 1707 E MAIN ST Pulse Corridor Plan: Shockoe Bottom Neighborhoods Pulse Corridor Plan: Shockoe Bottom Existing Land Use [10] 1707 E MAIN ST | RICHMOND VA RICHMOND METRO AREA Richmond is one of the oldest and most historic cities in the United States. As the site of numerous seminal events in the nation’s history, Richmond has been a center for politics, trade, and commerce for over three centuries. Today, the metro area is home to more than 1.3 million residents and headquarters to ten Fortune 1000 companies including Altria Group, Carmax, Performance Food Group, and Dominion Energy. In addition to its role as a business hub, Richmond serves a critical role as the center of health care, research, and education in the Mid-Atlantic region. Four universities are located within the metro area including Virginia Commonwealth University -- the largest university in Virginia -- and the VCU Health System both located in Downtown. The New York Times lists Richmond as one of “52 Places to Go in 2020” in the world Kehinde Wiley’s “Rumors of War” Statue The James River and Downtown Fan District Richmond is comprised of neighborhoods that are both unique and significant. The Fan District is the largest intact residential neighborhood featuring Victorian architecture in the United States. Church Hill overlooks the James River where similarities to the London suburb gave Richmond its name,. The neighborhood is also home to St. John’s Church where Patrick Henry gave the speech that changed the course of the country. Naturally, visitors come to Richmond for its history, but they also flock to the area for many other attractions. The Virginia Museum of Fine Arts, Capitol Square, the City’s famous restaurants and breweries, and a host of other attractions draw over 7 million people to the region annually. Maymont Park and the natural areas of the James River also offer delights specifically for nature lovers. More and more people are becoming aware of all that the Richmond Metro Area has to offer. Unsurprisingly, the New York Times lists Richmond as one of “52 Places to Go in 2020”. [11] 1707 E MAIN ST | RICHMOND VA RICHMOND METRO AREA ECONOMIC DEVELOPMENT Throughout its long history, Richmond has been a center for economic development with wide ranging impacts for the region and beyond. Its economy is based on a business-friendly setting and infrastructure that make the area attractive to both large and small businesses and organizations. KEY INDUSTRIES FORTUNE 500 Seven Fortune 500 companies call Metro Richmond home including the COMPANIES Altria Group, Carmax, Owens and Minor, and Genworth Financial. These HEADQUARTERS IN 7 RICHMOND and other companies represent diverse industries including creative, high-tech, health care, traditional manufacturing, and financial services. Adweek’s “Agency of the Year”, the Martin Agency, is located in Richmond along with many other leading design, architecture, and creative companies. In addition, VCU is one of the top creative and design universities in the country.