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Bobbi Farquhar

[email protected] +1(301) 752-3088

$ 425,000

Est. payment -/mo

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Active

505 AND 508 SAVANNAH AVE Richmond, VA 23222

1,100 SqFt

UPDATED:

02/20/2025 05:34 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 1,100 sqft

Price per Sqft $386

MLS Listing ID VAHN2000670

Originating Board BRIGHT

Year Built 1940

Annual Tax Amount $258

Tax Year 2022

Lot Size 0.750 Acres

Acres 0.75

Property Sub-Type Retail

Property Description

Offering 505 and 508 Savannah Ave.75Ac with additional land available, up to 3 Acres, located in an Opportunity Zone in Eastern Henrico County, zoned B3 for uses, including Office, Retail, Drive-Thru, Automotive Filling Station, Live/Work Dwellings. 505 Savannah Ave is a vacant corner lot with 120' fronting Richmond-Henrico Turnpike at Savannah Ave, apr. a half mile from Richmond Raceway and Amazon Robotics Center, and 508 is a contiguous lot with an 1100sf Bungalow. Approximately 10,000 vehicles pass per day. a half mile from Richmond Raceway and Amazon Robotics Center, with ingress and egress on both heavily traveled corridors. This location is experiencing growth with nearby development of homes and businesses, in addition to a major roadway enhancement project on Azalea, across Laburnum from this location, including bike lanes, streetlights and a new water main. The B-3 district is intended to provide a mix of commercial, automotive, and recreational activities, typically located along arterial roadways. Amazon Robotics Center, Richmond International Raceway, Memorial Regional Medical Center and Laburnum Medical Centers are located nearby. There is opportunity to redevelop the existing building for business use and add onsite parking. Street parking is also available on Savannah Ave. This corridor connects significant residential and retail development nearby, as well as the $22.5 million enhancement project from Richmond-Henrico Turnpike and Laburnum Ave south, with plans for 6 lanes, sidewalks, bike lanes, landscaping, and new water main.

Location

State VA

County Henrico

Zoning B-3

Interior

Hot Water Electric

Heating None

Cooling None

Flooring Hardwood

Heat Source None

Exterior

Garage Spaces 2.0

Utilities Available Electric Available, Phone Available, Water Available

Water Access N

View City

Roof Type Composite

Street Surface Paved

Accessibility None

Road Frontage City/County

Total Parking Spaces 2

Garage N

Building

Lot Description Additional Lot(s), Backs to Trees, Cleared, Road Frontage, Subdivision Possible

Foundation Crawl Space

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Henrico County Public Schools

Others

Tax ID 794-737-5854

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Listed by Susanne Azizi Haas • Haas Realty Group

Bobbi Farquhar

Advisor | License ID: 603292

+1(301) 752-3088

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