$3,000,000

5255 Hull Street Road

Richmond, Virginia 23224

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5255 Hull Street Road

Property Description

Offered at $3,000,000, This industrial property in Richmond, Virginia offers an enormous income producing opportunity with a positive cash flow in an up and coming commercially developing Commercial/Industrial Business Plaza. This building contains 17 individual units for lease and additional garages. Units equipped with hydraulic lifts. Last reported (by the owner) Gross Revenues was exceeding $300,000 per year.
Net pay out a month after care taker and all expenses is 28,000. This property includes 2 outside storage gated areas, and 5 free standing buildings. Currently this property stays rented at 95% to 90% r with the majority of the tenants who have been renting for 10 to 15 years. This property has a positive cash flow with a 8% cap rate. No other property like this in the Richmond area. Last reported Net Gross (by the owner) is $344,340.
Owner has currently added some more outside storage buildings, as well as the outside space has a fenced in area that is rented for car storage to a tenant. There is a small parcel on the side of the property that is vacant land, which had dry cleaners on years ago, but was torn down. You as the new owner of the property could build a other business or add more rental storage. YOU HAVE TO SEE THIS PROPERTY TO UNDERSTAND IT. This is a unique investment, which throws off cash profits, and is located in an area of economical revamping. This is a true industrial trade center, which has its on retention pond and you as the new owner could redo it for other venues. Come and take a look at this and think outside the box!

Brokered And Advertised By: RE/MAX Capital
Listing Agent: Elaine VonCannon

Features

Year Built:
 1983
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Neighborhood Information

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URL for this listing: http://www.realestatebook.com/homes/listing/106-1085926/5255-Hull-Street-Road-Richmond-VA-23224/

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This property located at 5255 Hull Street Road is currently for sale.  5255 Hull Street Road is in the 23224 ZIP code in Richmond, Virginia. This property is listed by Elaine VonCannon for $3,000,000. 5255 Hull Street Road, and was built in1983.