The Scott’s Addition property that houses The Dairy Bar sold for $7 million. (Mike Platania photo)
The home of a longtime local diner is the latest Scott’s Addition property to get snatched up by a developer.
Last week 1600-1602 Roseneath Road sold for $7 million, city property records show. The buyer was an entity tied to Jimmy Stanley of local development firm Stanley Shield Partnership.
The 1.5-acre property houses three buildings totaling about 44,200 square feet. Its most visible tenant is The Dairy Bar Restaurant, which faces the intersection of Roseneath Road and West Moore Street. Other tenants in the buildings include Hack.RVA, Rhudy & Co. Strategic Communications and Chemical Supply Inc.
The seller was an entity tied to Frank J. Wyatt Jr., who couldn’t be reached for comment. City records show entities affiliated with the Wyatts had owned the real estate since 1988, when they bought it for $400,000. It was most recently assessed at $4.5 million.
It’s unclear whether any changes are planned for the buildings. Emails sent to Stanley went unreturned. Dairy Bar owner Corey Martin declined to comment.
Stanley Shield has previously done work in the Scott’s Addition area. In 2018 it was involved in the redevelopment of the former Interbake Foods site at 947 Myers St. into The Scout, a mixed-use project with over 200 apartments and office space. Stanley Shield worked on that project with fellow local firm Spy Rock Real Estate Group.
Last summer, Stanley Shield sold the Brookfield Commons office building near West Broad Street and Forest Avenue for $32.5 million to a Nashville-based investment firm after heavy renovations to the property.
The deal for the Dairy Bar property is the third multi-million-dollar real estate transaction in Scott’s Addition in 2022. Last month NoVa-based development firm Bonaventure bought Ironwood Automotive’s building and the 0.2-acre parcel on Belleville Street it sits on for $2 million, and to the north Thalhimer Realty Partners spent $2 million on a pair of warehouses at 1711-1801 Ellen Road near The Diamond.
The Scott’s Addition property that houses The Dairy Bar sold for $7 million. (Mike Platania photo)
The home of a longtime local diner is the latest Scott’s Addition property to get snatched up by a developer.
Last week 1600-1602 Roseneath Road sold for $7 million, city property records show. The buyer was an entity tied to Jimmy Stanley of local development firm Stanley Shield Partnership.
The 1.5-acre property houses three buildings totaling about 44,200 square feet. Its most visible tenant is The Dairy Bar Restaurant, which faces the intersection of Roseneath Road and West Moore Street. Other tenants in the buildings include Hack.RVA, Rhudy & Co. Strategic Communications and Chemical Supply Inc.
The seller was an entity tied to Frank J. Wyatt Jr., who couldn’t be reached for comment. City records show entities affiliated with the Wyatts had owned the real estate since 1988, when they bought it for $400,000. It was most recently assessed at $4.5 million.
It’s unclear whether any changes are planned for the buildings. Emails sent to Stanley went unreturned. Dairy Bar owner Corey Martin declined to comment.
Stanley Shield has previously done work in the Scott’s Addition area. In 2018 it was involved in the redevelopment of the former Interbake Foods site at 947 Myers St. into The Scout, a mixed-use project with over 200 apartments and office space. Stanley Shield worked on that project with fellow local firm Spy Rock Real Estate Group.
Last summer, Stanley Shield sold the Brookfield Commons office building near West Broad Street and Forest Avenue for $32.5 million to a Nashville-based investment firm after heavy renovations to the property.
The deal for the Dairy Bar property is the third multi-million-dollar real estate transaction in Scott’s Addition in 2022. Last month NoVa-based development firm Bonaventure bought Ironwood Automotive’s building and the 0.2-acre parcel on Belleville Street it sits on for $2 million, and to the north Thalhimer Realty Partners spent $2 million on a pair of warehouses at 1711-1801 Ellen Road near The Diamond.
Guess I should go enjoy their breakfast while I still can 🙁
Okay. I was GOING to say that this is getting a little ridiculous, someone buying a dairy bar for 7M there, but now I see that that is just a small part of the parcel.
Ain’t nobody buying those buildings for $7M and is “unclear” about changes, lol. Those buildings will be mediocre 1 and 2 bdrm “market rate” apartments with a brewery underneath in T-minus 10, 9, 8, 7…