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Chimborazo Mini-mall 515 Chimborazo Blvd 14,250 SF Retail Building Richmond, VA 23223 $3,000,000 ($210.53/SF)
Investment Highlights
- The sponsor’s preliminary concept contemplates a townhome community of 16 to 24 units
- Excellent location in Richmond's historic Church Hill.
- Good location relative to major employers, VCU Medical Center and loads of neighborhood amenities such as parks and restaurants.
- Development site for upscale townhomes or 2 Over 2 condos with higher density.
- Site is already improved roads, walks and all utilities to site.
Executive Summary
INVESTMENT OVERVIEW
515 Chimborazo Blvd offers a rare 1.01-acre infill redevelopment opportunity in Richmond's historic Church Hill. The site may
support an upscale townhome or 2 Over 2 concept under new MX-5 zoning. Located in high-demand, affluent neighborhood
with strong demographic growth. Flexible MX-3 zoning allows for mixed-use or residential development, and the property
benefits from proximity to major employers and top educational institutions.
The property is currently improved with a 14,250-square-foot retail building and 70 surface parking spaces offering near-term
holding income potential and a longer-term residential redevelopment path.
515 Chimborazo Blvd offers a rare 1.01-acre infill redevelopment opportunity in Richmond's historic Church Hill. The site may
support an upscale townhome or 2 Over 2 concept under new MX-5 zoning. Located in high-demand, affluent neighborhood
with strong demographic growth. Flexible MX-3 zoning allows for mixed-use or residential development, and the property
benefits from proximity to major employers and top educational institutions.
The property is currently improved with a 14,250-square-foot retail building and 70 surface parking spaces offering near-term
holding income potential and a longer-term residential redevelopment path.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,250 SF
Building Class
C
Year Built
1973
Price
$3,000,000
Price Per SF
$210.53
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.33
Lot Size
1.01 AC
Zoning
B-1 - Proposed MX - 5 zoning to change from B 1. See documents for city press release
Parking
70 Spaces (4.95 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | E000-0972-001 | Improvements Assessment | $265,000 |
| Land Assessment | $525,000 | Total Assessment | $790,000 |
Property Taxes
Parcel Number
E000-0972-001
Land Assessment
$525,000
Improvements Assessment
$265,000
Total Assessment
$790,000
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Videos
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Photos
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Chimborazo Mini-mall | 515 Chimborazo Blvd
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