508 Savannah Avenue, Richmond, VA 23222

Located in the rapidly developing Opportunity Zone of Eastern Henrico County, this property at 508 Savannah Avenue features a 0.19-acre lot improved with an 1118-square-foot bungalow-type building. Zoned B3, the site allows for a variety of uses, including office, retail, drive-thru, automotive filling station, and live/work dwellings. The property is contiguous to 505 Savannah Ave, a vacant 0.28-acre corner lot, offering combined development potential. Together, the lots total approximately 0.48 acres with 120 feet of frontage on Richmond-Henrico Turnpike at Savannah Avenue. The location benefits from high visibility and access on two roads, with approximately 10,000 vehicles passing per day. It is situated approximately half a mile from Richmond Raceway and the Amazon Robotics Center. The area is experiencing growth, with new homes and businesses under development, along with a major roadway enhancement project on Azalea Avenue, across from Laburnum Avenue, which includes bike lanes, streetlights, and a new water main. The B-3 district is designed to accommodate a mix of commercial, automotive, and recreational activities, typically along arterial roadways. Nearby are the Amazon Robotics Center, Richmond International Raceway, Memorial Regional Medical Center, and Laburnum Medical Centers. There is an opportunity to redevelop the existing building for business use and add on-site parking. Street parking is available on Savannah Avenue. The location is near a $22.5 million enhancement project from Richmond-Henrico Turnpike and Laburnum Avenue south, with plans for 6 lanes, sidewalks, bike lanes, landscaping, and a new water main.