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1005 Westover Hills Blvd - 1005 Westover Hills Boulevard | Richmond, VA 0.24 Acres of Commercial Land Offered at $650,000 in Richmond, VA 23225
Investment Highlights
- Fully Approved Mixed-Use Development Opportunity
- Medical, Dental, Office, Retail & Restaurant Uses Permitted
- Flexible Commercial Layout Accommodating One or Multiple Tenants
- Up to 12 Residential Units + ±4,500 SF Commercial
- Pre-Leasing Opportunities Available at $32.00/SF NNN
- Prime Westover Hills Location within Richmond's Community Mixed-Use Corridor
Executive Summary
The approved development program permits construction of a three-story mixed-use building featuring approximately 4,500 square feet of ground-floor commercial space and up to 12 residential units above. The approved concept includes dedicated off-street parking, elevator access, outdoor patio areas, and prominent frontage along Westover Hills Boulevard.
Positioned within the Westover Hills Neighborhood Node and designated Community Mixed-Use under the Richmond 300 Master Plan, the site is ideally suited for developers, investors, owner-users, and builders seeking a long-term mixed-use opportunity in one of Richmond's most active redevelopment corridors.
The approved commercial component may accommodate a variety of office, medical, dental, retail, restaurant, and service-oriented users, creating a flexible mixed-use environment designed to serve both the surrounding neighborhood and the broader South Richmond market. The residential component further enhances the project's long-term viability by capitalizing on continued demand for walkable urban housing within an established and growing corridor.
Ownership is also exploring pre-leasing opportunities for the future commercial component at an asking rate of $32.00/SF NNN. Any future construction, permitting, financing, and development activities shall be the responsibility of the purchaser.
This offering presents a unique opportunity to acquire a development-ready site with significantly reduced entitlement risk, allowing buyers to focus on execution rather than approvals. Whether pursued as a developer acquisition, owner-user project, or long-term mixed-use investment, the property offers multiple avenues for value creation within one of Richmond's most desirable neighborhood commercial districts.
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Property Facts
1 Lot Available
Lot
| Price | $650,000 | Lot Size | 0.24 AC |
| Price Per AC | $2,765,957.45 |
| Price | $650,000 |
| Price Per AC | $2,765,957.45 |
| Lot Size | 0.24 AC |
Description
Fully entitled mixed-use development opportunity in Richmond’s Westover Hills corridor Approved Special Use Permit allowing a three-story mixed-use building with up to 12 residential units and approximately 4,500 SF of ground-floor commercial space Commercial component may support office, medical, dental, retail, restaurant, café, wellness, and service-oriented uses Ground-floor commercial space may be pre-leased at $32.00/SF NNN Ability to accommodate one full-floor commercial user or multiple commercial tenants depending on tenant requirements and final buildout strategy Prominent frontage along Westover Hills Boulevard with outdoor patio opportunities and dedicated off-street parking Located within the Westover Hills Neighborhood Node and Richmond 300 Community Mixed-Use designation Architecturally designed plans, renderings, and approved development concept available for review Targeted opportunity for developers, owner-users, medical operators, restaurant/café users, and long-term mixed-use investors
Property Taxes
| Parcel Number | S006-0371-001 | Improvements Assessment | $0 |
| Land Assessment | $113,000 | Total Assessment | $113,000 |
Property Taxes
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1005 Westover Hills Blvd - 1005 Westover Hills Boulevard | Richmond, VA