{"id":1004122526,"date":"2015-07-05T12:12:51","date_gmt":"2015-07-05T20:12:51","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=354484"},"modified":"2020-05-19T04:32:54","modified_gmt":"2020-05-19T12:32:54","slug":"museum-district-landmark-goes-on-the-block-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/museum-district-landmark-goes-on-the-block-2\/","title":{"rendered":"Museum District Landmark Goes on the Block"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Lee-School-Lofts.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-354490\" title=\"Lee School Lofts\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Lee-School-Lofts.jpg\" alt=\"Lee School Lofts\" width=\"198\" height=\"300\" \/><\/a>A century-old school-turned-apartment building in Richmond&#8217;s Museum District is on the auction block.<\/p>\n<p style=\"text-align: justify;\"><em>Richmond BizSense<\/em> <a href=\"https:\/\/richmondbizsense.com\/2015\/07\/02\/kensington-ave-apartments-get-8m-price-tag\/\" rel=\"nofollow\" >reports<\/a> that the Lee School Lofts, a 40-unit apartment building located at 3101 Kensington Ave., was put up for sale last week. The owner, Texas-based Lee School Lofts L.P., is asking $8 million. Real estate website <a href=\"https:\/\/www.propertyshark.com\" rel=\"nofollow\" >PropertyShark<\/a> lists the current market value of the Lee School Lofts at about $5.9 million.<\/p>\n<p style=\"text-align: justify;\">Built in 1917 as the Robert E. Lee School, the 55,000-square-foot property was converted to an apartment building in 2002 by Miller &amp; Associates, a local developer. It offers one-, two-, and three-bedroom lofts.<\/p>\n<p style=\"text-align: justify;\">Wink Ewing, Mike Marshall and Drew White, all of ARA Mid-Atlantic, have been retained to sell the Lee School Lofts. Ewing told <em>Richmond BizSense<\/em> that, although the property\u2019s current occupancy is 97.5 percent, that rate is the result of a move-out week. Occupancy is expected to return to 100 percent by the end of the marketing period. He added that the next owner will have the opportunity to redevelop the property as condominiums.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.monroeproperties.com\/\" rel=\"nofollow\" ><em>Monroe Properties<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Richmond school-turned-apartment building is now for sale. The property is located in the city&rsquo;s Museum District.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004122526","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Museum District Landmark Goes on the Block - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/museum-district-landmark-goes-on-the-block-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Museum District Landmark Goes on the Block\" \/>\n<meta property=\"og:description\" content=\"A Richmond school-turned-apartment building is now for sale. The property is located in the city&rsquo;s Museum District.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/museum-district-landmark-goes-on-the-block-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-05T20:12:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T12:32:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Lee-School-Lofts.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Museum District Landmark Goes on the Block\",\"datePublished\":\"2015-07-05T20:12:51+00:00\",\"dateModified\":\"2020-05-19T12:32:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/\"},\"wordCount\":185,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/Lee-School-Lofts.jpg\",\"articleSection\":[\"Richmond\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/museum-district-landmark-goes-on-the-block-2\\\/\",\"name\":\"Museum District Landmark Goes on the Block - 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