Listings update live from CVRMLS · Profile last reviewed June 2026
Nolde Bakery is Richmond's canonical example of the developer-pivot risk in condo ownership — a 32-unit Church Hill loft regime in the 1899 Nolde Brothers Bakery, converted in two waves (2007–08 and 2013) and stable since 2014.
Insider’s view — any red flags?
Nolde Bakery is a well conceived and executed project. Like many of the condo projects in Richmond that were developed in the early 2000s, sales suffered initially and many units were rented, but once the market stabilized, the remaining units were sold and they were absorbed by the market fairly quickly. The interior corridors and common amenities in Nolde are attractive and give the project a fun feel. The majority of the units in Nolde are the classic shotgun style where units run from the interior corridor to an exterior wall with factory windows that light the main living spaces. The units have solid but not spectacular finishes, but this can vary from unit to unit.
Red flags: Not many. Finishes are a bit basic but it is a great starter property.
History
The original 1899 Nolde Brothers Bakery was redeveloped just before the 2008 market crash. The developer sold a handful of units, then froze sales when the market broke, converted the remaining inventory to apartments, and rented through the downturn. The early buyers who had purchased pre-crash discovered themselves owning condos in a 90%-plus rented building, which made resale difficult for several years. By spring 2013, with the crash receding and the rental leases expiring, the developer restarted the sales program — and with Richmond buyers hungry for new condo inventory, Nolde sold out rapidly. The building has been a stable resale regime since 2014.
Design & units
Signature Church Hill loft — industrial-styled units with lofted spaces, large factory windows, and the brick-and-beam character that defined the second wave of Richmond's adaptive reuse. Common areas are unusually creative for the regime size, including a movie theater room for residents that is genuinely one of the more unique amenity packages in the Richmond inventory. Parking, exercise room, green space round out the package.
Neighborhood
2520 East Broad Street sits in Church Hill, directly across from The Belfry. The neighborhood's daily-life density — Sub Rosa, Alamo BBQ, Proper Pie, Patrick Henry's — has grown steadily over the past decade. St. John's Church and the Church Hill historic streetscape are immediately east.
What sets it apart
Nolde is the building Richmond agents reference when they talk about developer-pivot risk — a cautionary case study that makes the rest of the city's mid-2000s conversion stock easier to underwrite by contrast. The 2013 restart and the building's stable performance since 2014 made the Church Hill condo cluster (with The Reserve, The Belfry, and Rocketts Landing) credible at premium pricing.
See it in context
Open full 3D view in Google Maps → · Photorealistic 3D Tiles via Google Maps Platform · coords from MLS-median (30 listings).
Available now
1 under contract · live from CVRMLS
Recent sales
| Address | Beds / Baths | Sq Ft | Sold | Price |
|---|---|---|---|---|
| 306 N 26th St Unit#U124 | 2 / 1 | 1,158 | Jul 2026 | $378,000 |
| 306 N 26th St Unit#206 | 1 / 1 | 1,205 | Jun 2026 | $372,000 |
| 306 N 26th St Unit#U208 | 2 / 1 | 1,133 | Jun 2026 | $335,000 |
| 306 N 26th St Unit#U216 | 2 / 1 | 1,229 | Jun 2026 | $368,800 |
| 306 N 26th St Unit#U230 | 1 / 1 | 971 | May 2026 | $362,000 |
| 306 N 26th St Unit#U128 | 1 / 1 | 882 | Apr 2026 | $313,950 |
| 306 N 26th St Unit#U227 | 2 / 1 | 1,253 | Feb 2026 | $362,000 |
| 306 N 26th St Unit#U210 | 2 / 1 | 1,103 | Nov 2025 | $348,000 |
| 306 N 26th St Unit#U222 | 2 / 1 | 1,142 | Oct 2025 | $355,000 |
| 306 N 26th St Unit#U238 | 2 / 1 | 1,100 | Jul 2025 | $345,000 |
Frequently asked
Where exactly is Nolde Bakery?
Church Hill, VA 23223. In the Church Hill neighborhood.
When was Nolde Bakery built?
Nolde Bakery dates to 1920 (Historic conversion).
How many units are in Nolde Bakery?
Nolde Bakery is a 32-unit condominium regime in Church Hill.
Is Nolde Bakery a condo conversion or new construction?
Nolde Bakery is a historic conversion — an older building adapted into condominiums, dating to 1920.
