Mixed-use property in Richmond sells for $4.6 million

A mixed-use property with 17 apartments near Virginia Commonwealth University in Richmond has sold to Thalhimer Realty Partners (TRP) for $4.68 million. The seller was Richmond I LLC, according to CBRE|Richmond, which represented the seller.

The 24,223-square-foot property at 1508-1510 Broad St. in the Fan district is known as 1510 Lofts Apartments.  The 17 apartments include a mix of studio, one-and two-bedroom units ranging in size from 620 square feet to 875 square feet. Monthly rental rates start at $925 and go up to $1,300. Thalhimer’s Residential Property Services will manage the property on behalf of TRP.

The building also includes nearly 11,000 square feet of retail space occupied by Dollar Tree.

It's next to Virginia Commonwealth University and is less than a mile from downtown Richmond. It is one of 20 buildings constructed between 1900 and the late 1930s that contributed to the nationally registered West Broad Street Commercial Historic District. 

Charles Wentworth and Peyton Cox of CBRE|Richmond, Jay O’Donnell of CBRE|Charlottesville, and Ryan Sciullo of the CBRE Group, Inc. office in Washington, D.C., handled the sales transaction.