Owner Occupant or Investment
424 East Grace Street Richmond Virginia 23219
$1,300,000
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. Contact us to schedule a viewing and take the first step towards realizing your vision for this remarkable property.
ABOUT RICHMOND, VA
Richmond, VA is one of the oldest and most historic cities in the United States. As the site of numerous seminal events in the nation’s history, Richmond has been a center for politics, trade, and commerce for over three centuries. Today, the metro area is home to more than 1.3 million residents and headquarters to ten Fortune 1000 companies including Altria Group, Carmax, Performance Food Group, and Dominion Energy.
In addition to its role as a business hub, Richmond serves a critical role as the center of health care, research, and education in the Mid-Atlantic region. Four universities are located within the metro area including Virginia Commonwealth University — the largest university in Virginia –and the VCU Health System are both located Downtown.
The One South Commercial team has a wide variety of real estate experience between them, and much of that comes from Ann Schweitzer Riley. After graduating from UVA, Ann began exploring real estate from every angle, first as a residential real estate appraiser in Charlottesville, VA. After holding that role and spending some time as a legal assistant, Ann relocated to Richmond in 2008 to work with an affordable housing nonprofit. There, she discovered a new passion for construction and real estate development. This led her to begin a journey to a career in commercial real estate. She worked as a real estate construction project manager and a corporate commercial leasing agent before bringing her talents to One South Commercial as a commercial leasing agent.
Ann’s main focus is urban commercial properties, which includes office, retail, multifamily, industrial, and mixed use properties. Her experience representing commercial property owners, buyers, landlords, and commercial tenants along with her expertise in property investment, development, and leasing makes Ann a standout partner. Her experience in both residential and commercial product applications as well as in commercial sales and leasing provide an unmatched foundation for her expertise in use, property disposition, redevelopment, and asset/product optimization.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
