Shockoe Bottom Mixed-Use Investment Opportunity
Restaurant + Apartment
3 North 17th Street Richmond Virginia 23219
$750,000
This beautiful stately historic building is a unique mixed-use investment opportunity in the heart of Richmond’s Shockoe Bottom neighborhood. With prime frontage along the City’s recently renovated 17th St Farmers Market pedestrian plaza, this asset offers impressive visibility, accessibility, and stature in one of the city’s oldest neighborhoods. 3 N 17th was constructed in 1833 and possesses an array of historic features from its era including original fireplaces, heart pine flooring, high ceilings, and original millwork.
The property is comprised of a recently renovated ground floor restaurant space and a 2 story 1-2 bedroom apartment on the 2nd and 3rd floors. The restaurant space resides in a classic storefront and offers a turnkey full service opportunity with all equipment in place. In addition, the restaurant includes both a cozy dine-in space as well as a substantial outdoor patio with plenty of seating. The restaurant space is currently leased to an established user who has another 3.5 years left on a NNN lease. The 2 story apartment is spacious and full of natural light and can accommodate a 1-2 bedroom occupancy. The 2nd floor entry features a lovely living space with dramatic ceiling height, large fireplace, and heart pine flooring and a potential second bedroom or office. The 3rd floor of the apartment includes the balance of the living space and features an upgraded kitchen, second fireplace, bedroom and large bath.
This property’s distinctive historic features and modern functionality make this an excellent opportunity to own and invest in an up and coming part of Richmond’s historic urban core.
ABOUT SHOCKOE BOTTOM
Shockoe Bottom is one of Richmond’s oldest and most historic neighborhoods. Today, as a center or 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.
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.
Born and raised on a Virginia farm just outside the City of Richmond, Lory Markham has always been fascinated by settlement patterns and how urban growth happens. Her professional history, market knowledge, and passion for making places better equip her to work toward the continued growth of Richmond.
Lory graduated summa cum laude from Hollins University and earned her MA in Urban and Environmental Planning at the University of Virginia’s School of Architecture. After two years at the Richmond Regional Planning District Commission, she continued her public service at the City of Richmond. As Principal Planner for the City of Richmond, Lory served as Secretary to the city’s Planning Commission and managed the review of all development projects in the City that needed special approval. Her contributions to development in the City were recognized in her selection as a “Top 40 Under 40” by Style Weekly.
After over a decade of experience in with the City of Richmond, Lory started a planning consulting company, Markham Planning, and joined One South Commercial as a commercial agent. Her extensive knowledge of the Richmond market, zoning and development review process, historic tax credits, and neighborhood development has made her a prominent figure in the Richmond real estate market. And her focus remains in making places better and maximizing their potential.
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
