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Broad Street bank branches purchased for $6M

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Posted at 11:17 AM, Nov 16, 2018
and last updated 2018-11-17 16:04:52-05

RICHMOND, Va. — Two freestanding bank buildings along West Broad Street each fetched seven-figure sale prices in recent weeks.

The larger deal was for the SunTrust branch at the northern edge of the Fan at 1801 W. Broad Street, which sold for $3.6 million on Nov. 8, according to city property records.

The 10,600-square-foot building sits on 0.4 acres and most recently was assessed by the city for $1.4 million.

Mullco LLC, a Henrico-based entity registered to David and Shirley Mullins, was the buyer. Orlando, Florida-based NNN Sun LLC was the seller.

David Mullins said after selling their funeral businesses in Fredericksburg and Stafford, the couple, which owns Affinity Funeral Services in Henrico County, was looking to invest their capital in a 1031 Exchange.

Read More on Richmond BizSense.