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4312 Grove Ave
Richmond, VA 23221
Office Property For Sale


Investment Highlights
- Corner-lot property positioned between the Libbie & Grove corridor and Carytown, offering exceptional connectivity to some of Richmond’s most desirabl
- Multiple development concepts available, including townhomes and multifamily layouts requiring a Special Use Permit, offering strong future upside pot
- Walkable to upscale retail, dining, and boutique amenities with immediate access to the Fan District, VMFA area, and Libbie & Grove shops
- Strong surrounding demographics with high household incomes and a dense daytime population supporting both residential and office demand
Executive Summary
4312 Grove Avenue presents an opportunity to acquire an office property positioned on a 0.59-acre corner parcel within Richmond’s established Near West End. The existing building contains 3,560 square feet and is supported by 18 on-site parking spaces, providing flexibility for owner-users, professional firms, medical office users, or investors seeking a well-located asset with future repositioning potential.
The property benefits from frontage along Grove Avenue and proximity to some of Richmond’s most recognizable neighborhoods, including Libbie & Grove, Carytown, Windsor Farms, and the Fan District. The surrounding area offers a diverse mix of residential communities, retail destinations, restaurants, professional services, and neighborhood amenities that contribute to sustained demand from both businesses and residents. Convenient access to Interstate 195 further enhances regional connectivity throughout the Richmond metropolitan area.
Current RO-2 zoning supports office use, while conceptual redevelopment studies included in the marketing materials illustrate potential future residential redevelopment scenarios, subject to municipal approvals. The combination of an established location, existing improvements, parking availability, and redevelopment potential creates multiple pathways for value creation depending on a purchaser’s investment objectives.
Richmond continues to serve as a major employment and business center in Virginia, supported by a diverse economy, higher education institutions, healthcare systems, and government operations. The property’s location within a mature, highly amenitized corridor offers access to nearby employment centers, retail services, and neighborhood conveniences that support long-term occupancy and investment appeal.
The property benefits from frontage along Grove Avenue and proximity to some of Richmond’s most recognizable neighborhoods, including Libbie & Grove, Carytown, Windsor Farms, and the Fan District. The surrounding area offers a diverse mix of residential communities, retail destinations, restaurants, professional services, and neighborhood amenities that contribute to sustained demand from both businesses and residents. Convenient access to Interstate 195 further enhances regional connectivity throughout the Richmond metropolitan area.
Current RO-2 zoning supports office use, while conceptual redevelopment studies included in the marketing materials illustrate potential future residential redevelopment scenarios, subject to municipal approvals. The combination of an established location, existing improvements, parking availability, and redevelopment potential creates multiple pathways for value creation depending on a purchaser’s investment objectives.
Richmond continues to serve as a major employment and business center in Virginia, supported by a diverse economy, higher education institutions, healthcare systems, and government operations. The property’s location within a mature, highly amenitized corridor offers access to nearby employment centers, retail services, and neighborhood conveniences that support long-term occupancy and investment appeal.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
Medical
Building Size
3,560 SF
Building Class
C
Year Built
1964
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,560 SF
Building FAR
0.14
Lot Size
0.58 AC
Zoning
R-5 SINGLE
Parking
18 Spaces (5.06 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
Property Taxes
| Parcel Number | W019-0281-021 | Improvements Assessment | $313,000 |
| Land Assessment | $933,000 | Total Assessment | $1,246,000 |
Property Taxes
Parcel Number
W019-0281-021
Land Assessment
$933,000
Improvements Assessment
$313,000
Total Assessment
$1,246,000
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