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    David Andrews, Ccim, Richmond, VA

    License ID: WV0025669
    The Shopping Center Group
    Association
    Richmond Association Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (804) 673-1100
    Office Address:
    3008 Floyd Ave, Richmond, VA, 23227

    Performance

    Listings
    42

    Listings

    For Sale (12)

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    • Contact for pricing

      2.26 Acre Corner Parcel

      2.26 acre corner parcel, anchored by Food Lion.
      New Kent Hwy & Airport Rd, Quinton, VA 23141
      View Details
    • Contact for pricing

      High Profile Corner Commercial Land

      1.39 acre corner lot in Roanoke, C-1 zoning.
      SE Cor Of Brambleton Ave & Ranchcrest Dr, Cave Spring, VA 24018
      View Details
    • Contact for pricing

      Retail Outparcels For Sale

      Retail outparcels available in Chesapeake, Virginia.
      2800 Yadkin Rd, Chesapeake, VA 23323
      View Details
    • Contact for pricing

      High Profile Corner Commercial Land

      Corner commercial land available at signalized intersection near schools.
      5046 Cedarwood Ln, Roanoke, VA
      View Details
    • $595,000

      Commercial Land Near Walmart

      One acre of commercial land with drive-thru potential.
      5347 Franklin Rd, Roanoke, VA 24014
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    • Contact for pricing

      Available Land Parcels in Roanoke

      Land parcels available with initial site development work complete.
      5345 Clearbrook Village Ln, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Commercial Land Adjoins Walmart

      Commercial land with utilities, next to Walmart, high traffic.
      1990 Anderson Hwy, Powhatan, VA 23139
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    • $250,000

      Available Commercial Land Outparcel

      0.60 acres available, unique development opportunity near Starbucks.
      7901 Brk Rd, Henrico, VA
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    • Contact for pricing

      Prime Land Anchored by Walmart

      1.3 acres of land with frontage on S. Main Street.
      375 S Main St, Broadway, VA 22815
      View Details
    • Contact for pricing

      Available Land Parcels in Roanoke

      Land parcels available with initial site development work complete.
      5325 Clearbrook Village Ln, Roanoke, VA 24014
      View Details
    • Contact for pricing

      2.26 Acre Corner Parcel

      2.26 acre corner parcel anchored by Food Lion.
      5625 New Kent Hwy, Quinton, VA 23141
      View Details
    • Contact for pricing

      Available Commercial Outparcels For Sale

      Two outparcels available, anchored by Food Lion.
      2812 Yadkin Rd, Chesapeake, VA 23323
      View Details

    For Lease (30)

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    • Contact for pricing
      2,506 SF

      Volvo Parkway Retail Space

      Chesapeake, VA: Prime Retail Opportunity
      601 Volvo Pkwy, Chesapeake, VA 23320
      View Details
    • Contact for pricing
      7,227 SF

      Prime Richmond Restaurant Space

      7,227 SF Restaurant, Ample Parking, High Visibility
      6291 Broad St, Richmond, VA 23226
      View Details
    • Contact for pricing
      950 SF

      Christiansburg Retail Space For Lease

      950 SF Single-Tenant Retail Space in VA
      55 Conston Ave, Christiansburg, VA 24073
      View Details
    • Contact for pricing
      8,640 SF

      Retail Space Near Food Lion

      8,640 SF retail space with high visibility.
      1922-1952 E Washington Ave, Vinton, VA 24179
      View Details
    • Contact for pricing
      43,675 SF

      Former Grocery Store Available

      43,657 SF former grocery store in excellent condition.
      5201 Chippenham Crossing Ctr, Richmond, VA 23234
      View Details
    • $22 SF/Yr
      999 SF

      Restaurant Space with Patio Seating

      Endcap restaurant space with outdoor courtyard in Richmond, Virginia.
      8000-8006 Buford Ct, Richmond, VA 23235
      View Details
    • Contact for pricing
      63,287 SF

      Former Grocery Store Available

      63,287 SF retail space, anchored by Target and Kohl's.
      11331 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Plank Road

      Retail space for lease with high visibility on Rt. 3.
      3501-3631 Plank Rd, Fredericksburg, VA 22407
      View Details
    • Contact for pricing
      6,680 SF

      Retail Space in Grand Central Mall

      6,680 SF retail space in regional shopping mall.
      501 Grand Central Ave, Vienna, WV 26105
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    • Contact for pricing
      1,150 SF

      Turnkey Salon Spaces Available

      Retail spaces available, fully equipped for hair and nail salons.
      100 Hornbeck Rd, Morgantown, WV 26508
      View Details
    • Contact for pricing
      8,922 SF

      Retail Space in Food Lion Center

      Sublease opportunity in a well-located, high-traffic shopping center.
      2411 W Beverley St, Staunton, VA 24401
      View Details
    • Contact for pricing
      1,854 SF

      Retail Space with Existing Bar

      1,854 SF retail space with existing bar area.
      1529 W Main St, Richmond, VA 23220
      View Details
    • Contact for pricing
      2,450 SF

      Lexington Retail Space For Lease

      2,450 SF former restaurant space in Walmart-anchored center.
      1211-1231 N Lee Hwy, Lexington, VA 24450
      View Details
    • Contact for pricing
      2,287 SF

      Retail Space Near Valley View

      Retail space available near Valley View Mall.
      1920 Valley View Blvd NW, Roanoke, VA 24012
      View Details
    • Contact for pricing

      Retail Space Near Smith Mountain

      29,000 SF retail space available for immediate sublease.
      13326 Booker T Washington Hwy, Moneta, VA 24121
      View Details
    • Contact for pricing

      Retail Space in Richmond Center

      Retail space available in a Food Lion anchored shopping center.
      6409 Jahnke Rd, Richmond, VA 23225
      View Details
    • Contact for pricing

      Restaurant Space with Drive-Through

      Restaurant space available with drive-through and patio.
      6291 West Broad Street Rd, Richmond, VA 23230
      View Details
    • Contact for pricing

      Quinton Retail Bank Branch Available

      Bank branch available for lease in Quinton, Virginia.
      2599 New Kent Hwy, Quinton, VA 23141
      View Details
    • Contact for pricing

      Retail Space Near Food Lion

      8,640 SF retail space with high visibility.
      1942 E Washington Ave, Vinton, VA 24179
      View Details
    • Contact for pricing

      Retail Space in Staunton Center

      Sublease opportunity in Food Lion anchored shopping center.
      2411 West Beverly St, Staunton, VA 24401
      View Details
    • Contact for pricing

      Retail Spaces on Plank Road

      Retail spaces for lease in Fredericksburg's Rt. 3 corridor.
      3501-3655 Plank Rd, Fredericksburg, VA 22407
      View Details
    • Contact for pricing

      Retail Space in Southern Center

      Retail space available in well-leased shopping center near naval station.
      7525 Tidewater Dr, Norfolk, VA 23505
      View Details
    • Contact for pricing

      Former Grocery Store Space Available

      63,287 SF retail space near regional mall.
      11331 Midlothian Tpke, Richmond, VA 23235
      View Details
    • Contact for pricing

      Commercial Land on Wesleyan Drive

      Commercial land with high visibility near Food Lion.
      5437 Wesleyan Dr, Virginia Beach, VA 23455
      View Details
    • Contact for pricing

      Commercial Land in Roanoke

      Located in the retail trade area of South Roanoke.
      5360 Clearbrook Ln, Roanoke, VA 24014
      View Details
    • Contact for pricing

      Available Commercial Outparcels For Rent

      Two outparcels available for rent near Food Lion.
      2708 Yadkin Rd, Chesapeake, VA 23323
      View Details
    • Contact for pricing
      5,250 SF

      Move-In Ready Bank Branch

      Two-story bank branch with high visibility and multiple access points.
      13804 Hull Street Rd, Midlothian, VA 23112
      View Details
    • Contact for pricing

      Retail Space Near Valley View

      Endcap space for sale or lease near Valley View Mall.
      1920 Valley View Blvd NW, Roanoke, VA 24012
      View Details
    • Contact for pricing

      Retail Space in Christiansburg, Virginia

      950 SF retail space for lease in Christiansburg, Virginia.
      55 Conston Ave NW, Christiansburg, VA 24073
      View Details
    • Contact for pricing

      Retail Space in Greenbrier Submarket

      Endcap retail space in Chesapeake's Greenbrier retail area.
      601 Volvo Pkwy, Chesapeake, VA 23320
      View Details

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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    David Andrews, Ccim, Richmond, VA
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