Property Summary
Located in the historic and revitalized Shockoe Bottom neighborhood, 2025 E Main St offers an investor a highly desirable mix of small office tenants, many long-term, who have contributed to the property’s consistent performance over the years. This rare and unique offering is ideally suited for a multi-pronged and dynamic real estate investment strategy, providing an immediate stable cash flow with long term potential for redevelopment into a scaled multi-family or mixed-use asset.
Situated at the corner of East Main Street and North 21st St, 2025 E Main St features an approximately 36,000 gross square foot mid-century building on a gently sloped site. The property’s unique site allows the property to appear as a 2 story structure on the Main St side and a 3 story structure on the south side, with direct entry from the rear parking lot. There are 42 parking spots in the lot, currently not separately monetized apart from the building’s 23 office suites. Built in 1953 with an addition constructed in 1957, the property features over 26,000 SF of rentable office space and has seen several renovations in recent years including a new roof, lobby, and restroom renovations, a new high efficiency boiler, and a complete re-painting of the entire exterior. The property’s prominent walkable location, range of suite sizes, and off street parking component all offer an attractive occupancy to many small growing firms. The tenant roster is filled with non-profit groups, law offices, therapists and other small businesses. Currently 95% leased, the property consistently achieves a high to full occupancy status.
2025 East Main St checks all the investor boxes: stable income, tenant demand, a seller who has been a great steward of the property, and an incredible location with a favorable zoning classification (B-5) enabling it to be redeveloped into a high density office asset or a multi-family play. The building also sits in an Opportunity Zone and is also in an Enterprise Zone. A truly rare opportunity with plenty of long-term upside potential for both income and redevelopment, this property is an ideal asset for any investor looking for a recession-proof asset.
- 95% Occupied
- 42 Parking Spaces
- Opportunity Zone
- Enterprise Zone
- B-5 Zoning
PROPERTY DETAILS
| Parcel ID | E0000192008 |
|---|---|
| Const. Materials | Brick |
| Zoning Desc. | B-5 |
| Construction Date | 1953 |
| Renovation Date | 1957 |
| Co-broker Fee | Yes |