Property Summary
Welcome to 424 E Grace Street in Richmond, VA, a stunning historical building dating back to 1928.
This property offers a unique opportunity for a redevelopment into a mixed-use property with potential for commercial space with retail frontage on the first floor and apartments on the second floor. With a total of 7,320 square feet on the first and second floors and a finished basement level of an additional
3,660 square feet, the options for this property are endless.
The property’s current finishes and desirable B-4 zoning allow for a number of stabilization strategies including multiple iterations of a full redevelopment as a mixed-use asset with a multifamily component– or an equally attractive property was previously in use as a retail bank location and as creative office
and is potentially in “move-in ready” condition based on an owner occupant’s build-out needs.
With a range of highly reputed restaurants and cafes just steps away, the location of 424 E Grace Street is a bustling area one block south of Richmond’s iconic Broad St. Enjoy the convenience of being on the doorstep of popular establishments like Lillie Pearl, Wong Gonzales, Secret Sandwich Society, Rappahannock, and Buttermilk & Honey. The property is also walking distance to performing arts centers such as, The National and Dominion Energy Center.
East Grace Street has undergone a transformation in recent years, with a wave of new development that has transformed the area into a vibrant and bustling neighborhood. The property sits prominently at the corner of N 5th St and E Grace St, making it a highly visible location with a stately architectural profile and glass line. The street is considered to be very walkable, with a range of amenities within easy reach.
Contact us to schedule a viewing and take the first step towards realizing your vision for this remarkable property.
- B-4 Zoning
- 10,980 SF
- Elevator on Basement & First Floor
- Corner Lot
PROPERTY DETAILS
| Parcel ID | W0000025015 |
|---|---|
| Const. Materials | Masonry |
| Zoning Desc. | B-4 |
| Construction Date | 1928 |
| Co-broker Fee | Yes |