Historical Building on Grace
For Sale
$1,300,000
Pending
424 E Grace Street, Richmond, VA 23219
Prime investment opportunity in a vibrant, walkable Richmond neighborhood.
Property Size11,000 SF
Days on Market1267
Property Features for 424 E Grace Street
General Information
Standard status
Pending
Size
11,000 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1928
Listing Agency:
One South Commercial LLC
(804) 307-4060
Listed By:
Justin Sledd · License #0225191850
(804) 307-4060
Source:
Exitrealty
Added: Feb 22, 2023
Changed: Aug 8
Last Checked: Aug 8 at 6:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial LLC
Investment Insights
Based on property information with market context.
Located at 424 E Grace Street in Richmond, VA, this historical building dates back to 1928. The property, spanning nearly 11,000 square feet, is situated on a corner lot. A ten-year NNN lease covers the first floor and basement, presenting an investment opportunity for investors and owner-occupants. The second floor is fully outfitted and accessible, suitable for a new office tenant. The existing finishes and B-4 zoning allow for maximizing returns, including redevelopment possibilities. The property is ready for immediate occupancy by an owner-user, requiring minimal build-out. The location is suitable for retail or office purposes. Situated one block south of Richmond’s Broad St, the location is near restaurants and cafes such as Lillie Pearl, Wong Gonzales, Secret Sandwich Society, Rappahannock, and Buttermilk & Honey. It is also within walking distance of performing arts centers such as The National and Dominion Energy Center. East Grace Street has experienced new development, transforming the area into a vibrant neighborhood. The property is located at the corner of N 5th St and E Grace St, offering high visibility with a stately architectural profile and glass line. The street is considered walkable, with amenities within easy reach.
Key Highlights
- Lucrative 10‑year NNN lease in place for the first floor and basement, providing immediate and stable income.
- Prime location on a corner lot in a vibrant, walkable area of Richmond, one block south of Broad St.
- Fully outfitted and easily accessible second floor ready for a new office tenant.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 23219, VA
5,307
Population
3,488
Households
1.5
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
1.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$62,533
Median Household Income
$46,509
Median Earnings
$1,439
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Office in Richmond, VA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Prime investment opportunity in a vibrant, walkable Richmond neighborhood.
Where is this nnn property located?
The property is located at 424 E Grace Street Richmond, VA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Lucrative 10‑year NNN lease in place for the first floor and basement, providing immediate and stable income.; Prime location on a corner lot in a vibrant, walkable area of Richmond, one block south of Broad St.; Fully outfitted and easily accessible second floor ready for a new office tenant.
