505 Savannah Ave Richmond, VA 23222
- Commercial land
- 0.28 lot acres
Current Use by Public Records
- Commercial land
Property Details for 505 Savannah Ave
- Lot size
- 0.28 lot acres
- Zone code
- B-3
- Property type
- Commercial land
- APN
- 794-737-5854
- APU
- 7947375854
Description
This exceptional mixed-use property presents a compelling investment opportunity in Richmond, VA. Encompassing a 0.75-acre corner lot at the intersection of Savannah Avenue and the Richmond-Henrico Turnpike, this offering includes two parcels totaling 1,100 square feet of building space. The existing vacant bungalow sits on a highly visible location with approximately 120 feet of frontage on the Turnpike, benefiting from an estimated 10,000 vehicles per day passing by. Its B3 zoning allows for diverse business uses, making it ideal for redevelopment or adaptive reuse. The property's strategic location offers convenient access to major transportation arteries, placing it approximately half a mile from both the Richmond Raceway and the Amazon Robotics Center. On-site parking can be added, supplementing the existing street parking available on Savannah Avenue. The sale includes two separate lots: Edwards Park Lot Pt 36 3 7 2 A1 22 (508 Savannah Ave) and Edwards Park Lot Pt 38 39 40 41 2 A1 22 (505 Savannah Ave). The property is being sold "as is." Note that an adjacent 2.1-acre parcel at 3810 Meadowbridge Road is also available, presenting the potential for a combined 2.9-acre development (see MLS # VAHN2000668 for details). This is a rare chance to acquire a prime commercial property in a rapidly growing area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Henrico
- State
- Virginia
- Longitude
- -77.4244
- Latitude
- 37.5828
- CBSA code
- 40060
- CBSA name
- RICHMOND, VA METROPOLITAN STATISTICAL AREA
