Shoetree
Owner willing to take a serious offer due to retiring!!
Marketing description
Prime Redevelopment Opportunity in Downtown Richmond
Located in the heart of Richmond’s vibrant Arts and Cultural District, 307 East Broad Street offers a rare opportunity to redevelop a historic three-story retail building in the City’s B-4 Central Business District. This 6,630-square-foot structure sits on a 0.083-acre parcel and is ready for transformation—ideal for a mix of retail, office, and residential uses.
Originally built in 1940, the building is offering creative flexibility for developers or owner-users. Although currently in shell condition, the property is a blank canvas for high-impact adaptive reuse or modern mixed-use redevelopment.
Zoned B-4, this property allows for unlimited building height, a minimum three-story requirement, and encourages dense, transit-oriented development. Ground-floor commercial use is required on major corridors like Broad Street, aligning perfectly with retail, dining, gallery, or boutique concepts—while upper floors can support residential or office uses.
Located within both a Richmond Enterprise Zone and a CARE Program District, this property may qualify for city incentives.
RVA Facade improvement program: https://www.rva.gov/planning-development-review/facade-improvement-program
This is a strategic location within walking distance to VCU, the Convention Center, Jackson Ward, and Bus Rapid Transit (Pulse) stations—ideal for businesses and residents alike seeking access, culture, and visibility in one of Richmond’s most dynamic corridors.
Investment highlights
Zoning Intent and Regulations for the B-4 Central Business District in the City of Richmond
Purpose & Intent
Define the urban center with dense, transit-oriented development.
Encourage redevelopment and placemaking by using currently underutilized space (like surface parking lots).
Improve the streetscape and enhance public safety through active, pedestrian-friendly environments.
Design & Use Requirements
Mixed-use character is emphasized: combining residential, commercial, and service uses.
Active ground-floor uses (like retail or restaurants) are required on streets such as East Broad Street to keep the street lively.
If residential units are included on street-oriented commercial frontage:
The ground floor must include at least one-third or 1,000 sq ft (whichever is greater) of non-residential principal uses.
These uses must have a minimum depth of 20 feet across the entire street frontage, except for access points.
Building Regulation
No maximum height, encouraging vertical growth.
Minimum height of three stories to maintain density and scale.
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