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    424 Grace St Richmond, VA 23219

    Sponsored
    For Lease
    $16 SF/Yr ($14,640 /Mo)

    Move-in ready creative office, 3660 SF

    Lot size:
    10,980 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,660 square foot, move-in ready office space is located on the second floor of a historic, two-story building in Richmond's vibrant Arts District/Monroe Ward. The building, situated at the corner of East Grace and 5th Streets, boasts prominent architectural details and an abundance of natural light thanks to its impressive glass line. Recently renovated, this former SunTrust banking location offers a flexible, dynamic floor plan ideal for a variety of uses, from architectural firms to art galleries or non-profits. The space includes 8-9 large private offices surrounding a spacious open collaborative area. Its prime location provides easy access to popular destinations such as The National, Dominion Energy Center, and the Convention Center, as well as numerous acclaimed restaurants. The property features convenient proximity to interstates, parking garages, and public transportation. The building sits on a 0.08-acre lot and was constructed in 1928. The entire building encompasses 10,980 square feet, with a single suite currently available. The zoning is B-4. The property's APN is W0000025015. This is a unique opportunity to secure a highly visible and functional office space in the heart of Richmond's thriving downtown area. The minimum divisible space is 3,660 square feet, and the maximum contiguous space available is also 3,660 square feet.

    Property Features for 424 Grace St

    General Information

    Property type
    Coworking space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,980 SF
    Total Rate
    14640

    Building Details

    Year Built
    1928
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    2nd Floor
    Size
    3,660 SF
    Rate per SF
    $16

    HighLights

    • 3,660 SF of move‑in ready creative office space on the second floor.
    • Recently renovated, historic building in Richmond's Arts District/Monroe Ward.
    • High‑profile location near popular restaurants and entertainment venues.
    • Convenient access to interstates, parking garages, and public transportation.
    • Features a dynamic floor plan with 8‑9 private offices and a large open collaborative space.
    • Total building size: 10,980 SF, situated on a 0.08‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Healthcare Fraud Group ... Criminal Justice Attorney Richmond Generator Systems Electric Generator Shop

    Suggested Use

    Realty agency Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4382323
    Latitude
    37.5423435

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    FAQs

    What type of property is this?
    Coworking space - Move-in ready creative office, 3660 SF
    Where is this coworking space located?
    The property is located at 424 Grace St Richmond, VA.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 3,660 SF of move-in ready creative office space on the second floor.; Recently renovated, historic building in Richmond's Arts District/Monroe Ward.; High-profile location near popular restaurants and entertainment venues.
    Request Owner's contact information
    424 Grace St Richmond, VA 23219
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    Richmond, VA 23219
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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
    424 Grace St Richmond, VA 23219
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