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$ 1,300,000
Est. payment /mo
Active
424 E Grace ST Richmond, VA 23219
10,980 SqFt
UPDATED:
09/30/2024 05:02 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,980 sqft
Price per Sqft $118
MLS Listing ID 2303990
Style Garden Home
HOA Y/N No
Year Built 1928
Property Description
Welcome to 424 E Grace Street in Richmond, VA, a stunning historical building dating back to 1928. With the recent signing of a lucrative ten-year NNN lease covering both the first floor and basement, 424 E Grace emerges as a prime investment opportunity for both seasoned investors and prospective owner-occupants alike. Boasting a fully outfitted and easily accessible second floor, tailored to suit the needs of a new office tenant, this property stands ready to accommodate various business ventures. Its existing finishes coupled with favorable B-4 zoning present a multitude of avenues for maximizing returns, including several redevelopment possibilities. Moreover, it is primed for immediate occupancy by an owner-user, with minimal build-out requirements. Spanning nearly 11,000 square feet and strategically situated on a corner lot, the location remains an enticing prospect for retail or office purposes. 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.
Location
State VA
County Richmond City
Area 10 - Richmond
Interior
Cooling Central Air
Exterior
Roof Type Flat
Topography Level
Handicap Access Accessibility Features
Building
Lot Description Level
Building Description Block, Elevator(s),Multi-Tenant
Story 2
Sewer Public Sewer
Water Public
Architectural Style Garden Home
Level or Stories Two
Structure Type Block
Others
Tax ID W000-0025-015
Ownership ,Investment,Owner-User
Listed by One South Commercial LLC