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    1603 Ownby Ln Richmond, VA 23220

    For Sale
    $6,695,000

    Warehouse with multi-family, office, retail, and distribution development potential.

    Property size:
    31,300 SF
    Lot size:
    3.72 Acres

    Property Features for 1603 Ownby Ln

    General Information

    Size
    31,300 SF
    Lot size
    3.72 Acres

    Source: S.L. Nusbaum Realty Co - Corporate Agent Reid Cardon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Richmond Warehouse with Development Potential

    This masonry building features two loading docks and is located in an area with significant development potential. The B-7 zoning allows for multi-family, office, hotel, retail, warehouse, and distribution uses. The property is near the upcoming VCU Athletic Village and new Baseball Stadium, with construction beginning in 2024. The Diamond District development will include a 180-room hotel, 1,100 multi-family units, offices, and 58,000 square feet of retail space. A new condo and multi-family development has been built across the street. Scott's Addition is within walking distance, and the Park RVA Entertainment Center is nearby. The property encompasses 31,300 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cirrus Vodka Bar Main Line Brewery Brewery Fuel Purification Llc Gas Station Tiffany’s Smokehouse Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Self-Storage at U-Haul, Access Moving Company, New Lyfe Xpress Moving Co, Otis Elevator Company

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4571175
    Latitude
    37.5625637

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    FAQs

    What type of property is this?
    Warehouse - Warehouse with multi-family, office, retail, and distribution development potential.
    Where is this warehouse located?
    The property is located at 1603 Ownby Ln Richmond, VA.
    What is the asking price?
    The asking price for this property is $6,695,000.
    What are key features of this property?
    This property features: - B-7 Zoning offers flexibility for multi-family, office, hotel, retail, warehouse and distribution.; - Proximity to the Diamond District development, including a 180-room hotel, 1,100 multi-family units, offices and 58,000 SF of retail space.; - New VCU Athletic Village and new Baseball Stadium construction begins in 2024.
    (804) 683-0361
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    Richmond, VA 23220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1603 Ownby Ln Richmond, VA 23220
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