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The Gather Arts District Building 309-315 E Broad St 32,178 SF 100% Leased Office Building Richmond, VA 23219 $10,728,200 CAD ($333.40 CAD/SF) 10.29% Cap Rate

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Investment Highlights

100% occupied mixed-use property
Located between Virginia Commonwealth Univ (VCU) and Medical College of Virginia (MCV)

Beautifully renovated in 2019
Keep as income-producing or reposition

Executive Summary

The Gather Arts District Building is a 47,461SF mixed-use building located at 309-317 E. Broad St. in Downtown Richmond, VA. The majority of the building was magnificently renovated in 2019 for Gather, a provider of flexible co-working creative office space with premium amenities. Gather occupies roughly two-thirds of the property while Metro by T-Mobile, Ember Music Hall and SinnerG Tattoo occupy the ground floor retail. The offering presents an opportunity to own and maintain an income-producing asset or eposition for a future redevelopment opportunity.

Gather Arts District Bldg OM

Property Facts

Sale Type

Investment

Property Type

Office

Property Subtype

Office/Residential

Building Size

32,178 SF

Building Class

Year Built/Renovated

1900/2019

Price

$10,728,200 CAD

Price Per SF

$333.40 CAD

Cap Rate

10.29%

NOI

$1,104,151 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

3 Stories

Typical Floor Size

10,726 SF

Building FAR

2.74

Lot Size

0.27 AC

Zoning

B-4 CENTRA

Parking

2 Spaces (0.06 Spaces per 1,000 SF Leased)

24 Hour Access
Atrium
Controlled Access
Concierge

Conferencing Facility
Property Manager on Site
Security System
Skylights

Wheelchair Accessible
Reception
Roof Terrace
Storage Space

Outdoor Seating
Air Conditioning
Balcony

Information
99,999 SF
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Metro by T-Mobile began in 1994 as General Wireless, Inc., later became MetroPCS, and now operates as a T-Mobile US brand focused on prepaid wireless service. The company offers no-contract phone plans, device sales, and related mobile services through a consumer-facing brand built around prepaid pricing and network access. After a reverse merger with T-Mobile USA in 2013, Metro’s services were folded into T-Mobile’s network, and the brand was relaunched under the Metro by T-Mobile name in 2018. Recent company materials show a focus on value-oriented prepaid plans, unlimited 5G data, and device promotions for new customers.