1603 Ownby Ln Richmond, VA 23220

Property Details for 1603 Ownby Ln

Year built

1942

Construction

TYPE NOT SPECIFIED

Lot size

3.52 lot acres

Property size

31,129 SF

Zone code

M-2 HEAVY INDUSTRIAL

Property type

Warehouses

APN

N-000-1294-056

APU

N0001294056

Description

This exceptional 31,300 square foot warehouse property, located at 1603 Ownby Ln in Richmond, Virginia, presents a unique investment opportunity. Built in 1985, this masonry structure sits on a 3.889-acre lot and boasts two convenient loading docks. The asking price is $7,200,000, translating to $230.03 per square foot. The property is zoned B-7, offering versatile development potential, including multi-family, office, hotel, warehouse, and distribution uses. Its strategic location within the burgeoning Diamond District places it within walking distance of Scott's Addition and offers significant upside potential. Nearby amenities include the Park RVA Entertainment Center and the soon-to-be-constructed VCU Athletic Village and new baseball stadium (construction commencing in 2024). The Diamond District's planned expansion includes a substantial addition of residential units (1,100 multi-family units), a 180-room hotel, office space, and 58,000 square feet of retail space. Further enhancing the property's value is the recent construction of new condo and multi-family developments directly across the street. This warehouse represents a rare opportunity to acquire a significant asset in a rapidly developing and highly desirable area of Richmond. The property's zoning and location make it ideally suited for a variety of uses, promising strong returns for the discerning investor.

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Longitude

-77.4577

Latitude

37.5623

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments