Property Summary
ONE SOUTH COMMERCIAL is pleased to present 306 E Grace Street – a strongly performing multi-family asset located in the heart of Richmond’s Central Business District. Built in 1928 and redeveloped in 2014, this property is fully leased and comprises 11 apartments and 1,500 SF of ground floor commercial space
The apartments feature updated appliances, granite countertops, and hardwood floors while the commercial space boasts large display windows, high ceilings, and natural light – perfect for a creative office or retail storefront.
306 E Grace Street’s prime location offers an investor the chance to lease to three different tenant profiles: Young Professionals (working in the CBD or State Capital), Healthcare Tenants (Medical school students, nurses, and hospital staff), and VCU Graduate Students.
With a walk score of “97”, 306 E Grace Street is within walking distance of the largest employers and demand generators for downtown Richmond including the State Capital and office buildings, MCV/VCU Health campus and medical school, VCU’s Monroe Park campus, headquarters for many of the region’s largest companies, and a myriad of local businesses, restaurants, cafes, galleries, retail stores, theaters, and gourmet markets. The property is on the route for the new GRTC Pulse bus rapid transit system and immediately proximate to all major highways.
PROPERTY DETAILS
| Units | 12 |
|---|---|
| Parcel ID | W000-0036-017 |
| Const. Materials | Brick |
| Zoning Desc. | B-4 |
| Addl. Features | Fully Leased |
| Construction Date | 1928 |
| Renovation Date | 2014 |
| Co-broker Fee | Yes |