Description

This renovated 4,090 SF mixed-use property offers a compelling blend of historic character, flexibility, and investment potential.—directly across from the Convention Center. Currently operated as a duplex, the building could be reconfigured to function as a triplex or quadplex, including the potential for two separate commercial suites on the ground floor and two residential units on the second floor. Benefiting from extensive street frontage along both E. Clay Street and N. 3rd Street, the property enjoys exceptional visibility and accessibility. A standout corner storefront anchors the building and presents an outstanding opportunity for retail, restaurant, office, gallery, or other creative commercial uses in one of Richmond’s most active and rapidly evolving urban districts. The property’s second-floor residential unit currently operates as a high-performing Airbnb, with all personal property in that unit conveying with the sale, providing immediate income potential for a new owner. Ideal for an owner-user seeking rental income to offset occupancy costs or an investor looking to maximize returns through a more optimized unit mix, the property offers multiple avenues for value creation. Additional upside exists through the potential development of a small courtyard, creating a unique destination atmosphere or creative enclave that complements the building’s historic charm and prominent location. Further enhancing the investment appeal, the property is situated within an Enterprise Zone, CARE District, and Opportunity Zone, providing access to a variety of potential economic development incentives and tax advantages. Well maintained and thoughtfully renovated, 221 E Clay Street represents a rare opportunity to acquire a flexible mixed-use asset in one of Richmond’s most sought-after neighborhoods.