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Carriage Club

7098 Fernwood Street, Henrico, VA 23228

  • For Sale Contact for pricing
  • Property Type Other
  • Lot Size 15.2 Acre
  • Building Class B
  • Year Built 1966
  • Date Updated Aug 18, 2022

​​​​​​​Colliers International Mid-Atlantic Multifamily Advisory is pleased to present Carriage Club Apartments, a prime value-add opportunity consisting of 297 spacious apartment homes in one of Richmond’s most affluent submarkets.  The property occupies a strategic location less than a ¼ mile from the highly traveled intersection of Broad Street and Glenside Avenue and minutes to the Interstate 64 interchange, providing easy and efficient travel to the downtown central business district, Short Pump, Innsbrook, and all points of the Richmond MSA.  Carriage Club benefits from proximity to an abundance of retail, key employment nodes, and Henrico County’s superior school system.  
The property presents an ideal investment opportunity, specifically a value-add execution of investing capital to upgrade interiors and enhance common areas and green spaces to compete both against neighboring communities and new Class A product in the submarket.  Only 40% of the property has been renovated leaving significant upside for future ownership to continue value-add improvements.  Top-of-the-market competing properties are experiencing rent levels over $500 above current rents at Carriage Club, presenting an ideal setting for future ownership to continue improvements at the property.  In addition, renovated units at Carriage Club are showing rent premiums in excess of $100 further justifying the value-add strategy.  Rent growth projections in the West End submarket of Richmond are arguably one of the highest in the thriving Mid-Atlantic market.  Average annual rent growth over the next five years is projected to be nearly 9% in the submarket providing investors with an exciting investment opportunity at Carriage Club Apartments.  

Under Access Agreement

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Location

  • Walk Score ® Car-Dependent (47)
  • Bike Score ® Somewhat Bikeable (40)
Powered by Walk Score ®
  • City Henrico, VA
  • Neighborhood West Broad Street Gardens
  • Zip Code 23228
  • Market Richmond Tidewater

Points of Interest

Richmond Staples Mill Road

0.53 miles

AR Cab Service

0.88 miles

Richmond Main Street

6.94 miles

Citgo

0.45 miles

Mobil

0.56 miles

Sunoco

0.61 miles

Shell

0.75 miles

Sheetz

0.84 miles

Hess

1.10 miles

Mobil

1.30 miles

Valero

1.40 miles

Chubby's

1.42 miles

Wawa

1.44 miles

Pony Pasture

4.48 miles

Lot G

4.68 miles

Lot J

4.95 miles

Midway

4.97 miles

Lot F

4.98 miles

Lot A

5.00 miles

Bowe Street Parking Deck

5.05 miles

Lot C

5.19 miles

VCU - HB Lot

5.21 miles

VCU - AR Extension Lot

5.23 miles

Hampton Inn & Suites Richmond/Glenside

0.62 miles

Residence Inn Richmond Midtown/Glenside

0.64 miles

Extended Stay America

0.65 miles

Extended Stay America

0.70 miles

WoodSpring Suites

0.76 miles

Super 8

0.82 miles

Rodeway Inn

0.83 miles

Baymount Inn and Suites

0.86 miles

Econo Lodge-Broad St

0.87 miles

Best Western Executive Hotel

0.89 miles

Little Caesars

0.39 miles

Dunkin'

0.40 miles

Wendy's

0.43 miles

McDonald's

0.46 miles

Captain D's

0.46 miles

Shoney's

0.52 miles

Corner Cafe

0.60 miles

Tip Thai

0.68 miles

Bob Evans

0.72 miles

Mission BBQ

0.77 miles

Johnson Elementary School

0.78 miles

Holladay Elementary School

0.87 miles

Crestview Elementary School

1.29 miles

Hermitage High School

1.44 miles

Lakeside Elementary School

1.44 miles

Hermitage Technical Center

1.45 miles

Moody Middle School

1.45 miles

Our Lady of Lourdes Elementary School

1.61 miles

Skipwith Elementary School

1.71 miles

Trevvett Elementary School

1.76 miles

Kingdom Kidz Child Development Center

0.58 miles

Faison Center Early Education Center

2.22 miles

Chamberlayne Baptist Preschool

3.57 miles

The Learning Experience

3.98 miles

Bundle of Joy Child Care

4.19 miles

Child Development Center

4.26 miles

Tuckaway Complete Childcare

4.91 miles

School of Andrew

4.99 miles

Heavenly Child Care

5.81 miles

Toddler University

5.91 miles

Contacts

broker

Charles Wentworth

broker

Garrison Gore

broker

George Hankins

broker

Victoria Pickett

Frequently Asked Questions

What is the total square footage of Carriage Club?

Carriage Club totals 15 square feet.

When was this property built?

Carriage Club was built in 1966.

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