CM-5 Mixed-Use Development Opportunity 245 24th St 4,000 SF Retail Building Richmond, CA 94804 $1,773,512 CAD ($443.38 CAD/SF)

CM-5 Mixed-Use Development Opportunity – Richmond, CA
This offering presents a rare opportunity to acquire a CM-5 (Commercial Mixed-Use – Activity Center) zoned property located within Richmond’s T5 Core-Open high-density district, allowing for a wide range of potential uses including residential, commercial, and mixed-use development (buyer to verify).
The property is currently improved with a fully built-out auto body facility, providing immediate utility for an owner-user or tenant, while also offering long-term redevelopment potential.
INVESTMENT HIGHLIGHTS
~ CM-5 Commercial Mixed-Use zoning
~ Located in Richmond’s T5 Core-Open high-density district
~ Approx. 5,009 SF lot | ~4,000–4,500 SF building
~ Mixed-use and residential development potential (buyer to verify)
~ Existing improvements allow for immediate occupancy or interim income
~ Dual access via 24th Street and Exchange Blvd
~ Three-phase power, gas, and water utilities in place
~ Built-in paint booth and infrastructure (optional use)
~ Property can be delivered vacant or with improvements in place
~ Flexible positioning: owner-user, investor, or developer
PROPERTY DESCRIPTION
This property offers a compelling urban infill investment opportunity with both immediate functionality and long-term upside.
Located in one of Richmond’s designated growth areas, the site falls within the CM-5 zoning district and the T5 Core-Open designation, which supports higher-density development and a mix of residential and commercial uses.
The existing improvements include a production-grade auto body facility with built-in infrastructure, allowing for immediate use or lease-up. However, the true value lies in the flexibility of the site, as buyers may retain, repurpose, or remove improvements depending on their intended use.
Based on preliminary feasibility analysis, the site may support lower-density residential or mixed-use development concepts (such as 4–6 units), with additional density potential subject to design, approvals, and city requirements (buyer to verify).
POTENTIAL USES / STRATEGIES
~ Owner-user occupancy
~ Lease to automotive or light industrial operator
~ Hold for appreciation in a supply-constrained market
~ Mixed-use redevelopment (residential + commercial)
~ Small-scale multifamily development (conceptual)
~ Reposition to alternative industrial or commercial use
ADDITIONAL INFORMATION
~ Existing auto body business may be available separately
~ Potential portfolio opportunity with adjacent parcel (251 24th St)
~ Do not disturb occupants
All information provided by seller or third-party sources and subject to buyer verification. Buyer to conduct their own due diligence regarding zoning, use, and development potential.
BY APPOINTMENT ONLY - Please do not disturb occupants.