Retail in Richmond, VA — Lease in Richmond, VA

  • Price: $2.5M
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Richmond, VA 23222

Photos

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Description

3,025 SF Wendy's For Sale/Sublease Well-positioned retail opportunity located on one of Richmond’s primary commercial corridors at the intersection of E. Laburnum Avenue and Richmond-Henrico Turnpike (US-360). The property features a freestanding retail building totaling approximately 3,025 SF situated on 1.20 acres, providing excellent visibility, multiple points of access, and ample on-site parking. The site benefits from strong frontage along E. Laburnum Avenue, exposure to significant daily traffic volumes, and proximity to major retail, residential, and employment centers throughout Richmond’s east and north submarkets. The property is approximately 1.5 miles from Richmond Raceway, a regional destination that attracts tens of thousands of visitors annually, further enhancing area traffic and consumer activity. Originally developed as a quick-service restaurant, the building offers an established retail presence with excellent accessibility and visibility for retailers, restaurant users, service businesses, and other customer-facing operations. The property includes approximately 37 surface parking spaces and is zoned B-2, supporting a variety of commercial uses.

Market Context

This retail in Richmond, VA is listed for lease at $2,500,000. 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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