172 East Belt Boulevard — Lease in Richmond, VA

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Richmond, VA 23224

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Description

2,508 SF Wendy's for Sublease The property features a freestanding building encompassing 2,508 square feet, complete with a convenient drive-thru, situated on a 0.93-acre lot. Its prime location offers close proximity to Richmond’s Manchester District, an area of the city experiencing an explosion of multi-family development (3,500+ units under construction or delivered since 2022), and Midlothian’s major retail corridors (Midlothian Turnpike and Hull Street Road). Additionally, the site boasts excellent visibility and full-access along E Belt Boulevard, capturing 19,000 vehicles per day, making it an attractive option for any business. Currently built out as a drive-thru restaurant, the property can be reused for a myriad of retail end-users.

Market Context

This retail in Richmond, VA is listed for lease. Compare it against other retail listings for lease 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).

Estimated Market Rate

$1.34/SF/mo – $1.82/SF/mo

Mid: $1.58/SF/mo

Based on comparable properties in similar markets rather than local sales.

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