Three Richmond industrial properties sold for $21.5M
The seven acres of investment land offer a redevelopment upside
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Three industrial parcels in Richmond have sold for $21.5 million, Avison Young Commercial Real Estate reports.
Two of the lots are vacant land parcels that offer immediate development potential. The third parcel has an 83,902-square-foot industrial facility providing holding income. The properties offer a current net operating income of $629,560. The total land size of the three parcels is nearly seven acres.
The properties are located at 15100 River Rd., 1600 Savage Rd. and 1611 Patrick St., Richmond.
Lot Size: 6.9 acres
Property Type: Industrial
Date of Sale: 04/13/2018
Name of Brokerage: Avison Young Commercial Real Estate
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