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This property is one of 2 contiguous lots that can be purchased together or seperately at 505 and 508 Savannahe Ave. This listing is 508 Savannah Ave, which is .19ac lot with bungalow-type 1118sf building. This property is located in a fast-growing Opportunity Zone of Eastern Henrico County and is zoned B3 for uses, including Office, Retail, Drive-Thru, Automotive Filling Station, Live/Work Dwellings. It is contiguous to 505 Savannah Ave, which is a vacant .28ac corner lot with good visibility and access on 2 road. Together, they are apr .48ac with 120' fronting Richmond-Henrico Turnpike at Savannah Ave, apr. a half mile from Richmond Raceway and Amazon Robotics Center, 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
| DAYS ON MARKET | 383 | LAST UPDATED | 7/16/2024 |
|---|---|---|---|
| YEAR BUILT | 1940 | COMMUNITY | 32 - Henrico |
| COUNTY | Henrico | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Apr 3, '24 | $425,000 |
|---|---|
| Apr 3, '24 - Apr 3, '24 | $160,000 |
| Apr 3, '24 - Today | $265,000 |
| ADDITIONAL DETAILS | |
| AREA | 32 - Henrico |
|---|---|
| CONSTRUCTION | Metal Siding, Vinyl Siding |
| LOT | 0.46 acre(s) |
| LOT DESCRIPTION | Level |
| STORIES | 1 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with HAAS Realty Group
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Last Updated: 4/18/25 3:34 AM PDT
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