The Penny
Price
Price on request
Market rate estimate — not broker-provided
Cost-of-Business Details
Very Low ConfidenceTransferred from peer market greenville (similarity: 100%) with 7 comparable listings.
| Component | Value | Detail | Source |
|---|---|---|---|
| Base Rent | $26.50/SF | — | peer_city_transfer |
| Utilities | — | 9.6¢/kWh | OpenEI URDB |
| Property Tax | — | 0.0% eff. rate | API Ninjas |
| Labor Index | — | $1556/wk | BLS QCEW |
Source Provenance (1)
| Source | Type | Count | Year | Freshness | Peer |
|---|---|---|---|---|---|
| Peer City Transfer | economic_similarity | 7 | — | real-time | greenville (100%) |
Description
Now Available for Lease, Office, The Penny located at 2 W Marshall St. Available square footage 2,200 SF.
Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.
Location
2 w marshall st richmond, va, 23219, richmond, VA 23219
Market Context
As of Q1 2025, the Richmond office market showed a 31.4% vacancy rate, average asking rents near $33.43/SF/yr, and rents up 1.4% year over year. Source: Cushman & Wakefield Q1 2025 market report.
Projected current pricing
low confidenceModeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2025 curated:CBRE U S Cap Rate Sur data (cap rate 9.5%, asking rent held flat).
Rising rents point to a competitive market where well-priced, well-located assets trade quickly.
Compare it against other office listings for sale in Richmond, VA to benchmark pricing and space — view the full market.
Office market FAQ
- Is the Richmond office market tightening or softening?
- Vacancy is around 31.4%, with asking rents rising year over year (Q1 2025).
Unified Estimate
Very Low ConfidenceRate-first confidence-weighted blend with cost-of-business adjustment.
No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market greenville (similarity: 100%) with 7 comparable listings.
Sale Price History
Market report quarterly trend fallbackFIPS 51760
- Avg Rent ($/SF/yr) (market data)
- Vacancy %
Investment Analysis
Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.
Financing Assumptions
Insufficient financial data for full analysis. Add more financial fields to improve metric coverage.
Market Employment Trend
December 2025 • Source: BLS QCEW
Economic Indicators
Source: FRED
Market Demographics
Census ACS 20242024 American Community Survey 5-Year Estimates •Released annually by U.S. Census Bureau
Assumptions
- Interest rate: 6.47% (FRED live)
- Loan term: 25 years
- Down payment: 25.0%
- Market comparison: office in richmond, VA
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