$1 Auction – Former SunTrust Bank | 18K VPD | Three… — Sale in Richmond, VA
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Richmond, VA 23227
Photos
Description
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/3401/retail/richmond/va Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 1101 Azalea Avenue in Richmond, Virginia is a vacant, ±2,869-square-foot former bank positioned for lease-up, adaptive reuse, or owner-user occupancy. Built in 1981 on a ±0.653-acre dual corner parcel, the freestanding building includes three drive-thru lanes with canopy, a prominent pylon sign, 35 striped parking spaces, and multiple access points supporting efficient ingress/egress. The Property fronts Azalea Avenue, which carries ±17,931 vehicles per day, with nearby corridor volumes reaching ±20,570 VPD, and offers convenient connectivity to I-95, US-301/Chamberlayne Road, and US-1/Brook Road. B-2 Community Business zoning supports a broad mix of potential uses, including financial services, office and medical, convenience retail, restaurant, personal service, and veterinary concepts, subject to applicable approvals. Nearby demand drivers include Walmart Neighborhood Market, Food Lion-anchored Brookhill Azalea Shopping Center, Walgreens, Dollar Tree, Subway, fuel stations, Henrico High School, and Richmond Raceway. Within five miles, the property reaches ±240,828 residents with average household income of ±$100,151. CoStar estimates local retail rents at $17-$21 per square foot, reinforcing the value-add opportunity for investors and owner-users seeking a parking-rich, drive-thru-equipped Richmond asset. Investment Highlights: • ABSOLUTE $1 AUCTION | Former SunTrust Bank | 18K VPD | Three Drive-Thru Lanes | AUCTION OCTOBER 19-21 • Former Bank with Three Drive-Thru Lanes - ±2,869-SF branch combines a canopy, pylon sign, and functional stacking for efficient reuse. • Parking-Rich Corner Site on ±0.65 Acres - 35 striped spaces and multiple curb cuts supporting easy customer circulation. • High-Visibility Azalea Avenue Position - Frontage captures ±17,931 VPD,
Market Context
This retail in Richmond, VA is listed for sale. Compare it against other retail listings for sale in Richmond, VA — view the full market.
As of Q2 2026, the Richmond retail market showed a 3.6% vacancy rate, and average asking rents near $19.71/SF/yr. Source: Cushman & Wakefield Q2 2026 market report.
Tight vacancy keeps competition for quality space elevated.
Retail market FAQ
- Is the Richmond retail market tightening or softening?
- Vacancy is around 3.6% (Q2 2026).
Contact
- Adam Sklaver · (954) 245-3422 · adam.sklaver@marcusmillichap.com
- Philip Kates · (954) 245-3408 · philip.kates@marcusmillichap.com
- Brian Hosey · (202) 536-3700
Explore this market
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