In an effort to stabilize her rent for the long term, a Carytown clothing store became its own owner.
The owners of the AlterNatives store at 3320 W. Cary Street bought the building he calls Jim Stevens’ home for $ 430,000 in an agreement that was registered with the city earlier this month. of May.
The threat of rising rents motivated AlterNatives owners Ben Blevins and Guadalupe Ramirez to buy in order to better cover the costs of doing business. The boutique has been housed in this 1,100 square foot one-story building for over 20 years.
âThe problem all local traders face is that property tax and rent payments continue to rise while sales volume and margins do not increase,â Blevins said.
AlterNatives sells clothing, jewelry accessories and household items.
Ramirez runs the daily operations of the store while her husband Blevins keeps the books.
The property was recently appraised at $ 410,000. Stevens bought the property for $ 62,000 in 1983, according to city property records.
AlterNatives is not the only recent tenant-owner in Carytown. Citizen Burger Bar owner Andy McClure bought his restaurant space for $ 1.5 million in April.