Building Details

Year built 2004

Floors in Building 2

Listing Agency: Hometown Realty J***@htrsi.com Show Phone

Listed By: Stokes McCune · License #0225236583 Show Phone

Added: Oct 17, 2025 Changed: Sep 30 Last Checked: Oct 7 at 12:06AM

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MLS# 2529057

Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 3,600-square-foot office building contains two floors with a reception area, community space, and meeting facilities. The layout includes 11 units, allowing the property to accommodate multiple occupants within one office asset or support a single-company configuration.

Several units are currently rented, while arrangements are available for existing renters to remain or relocate. Built in 2004, the property is located at 5380 Twin Hickory Road in Glen Allen’s Hickory Office Condos, near Nuckols and Twin Hickory.

Key Highlights

• 3,600‑square‑foot office building constructed in 2004
• Two‑floor configuration with reception, community, and meeting areas
• 11 office units within the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,302

Cap Rate

4.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$786,040 $786.0K

Cap Rate 7%

$561,457 $561.5K

Cap Rate 9%

$436,689 $436.7K

Market Conditions

NOI Build-Up for 3,600 SF

Gross rent

$59.6K $16.56/SF

− Vacancy

−$7.2K −$2.00/SF

EGI

$52.4K $14.56/SF

− OpEx

−$13.1K −$3.64/SF

NOI

$39.3K $10.92/SF

Area

Henrico County, VA

Vacancy

12.10%

Lease Rate

$16.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$786,040

Cap Rate 7%

$561,457

Cap Rate 9%

$436,689

Alternative Uses

Best Use

Office B

$561.5K

$491.3K – $655.0K (±1% cap)

NOI $39,302 @ 7.0% cap · market cap 4.68%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$939.1K

$821.7K – $1.10M (±1% cap)

NOI $65,738 @ 7.0% cap · market cap 7.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Keeney Kris R Law Firm Maple Hill Benefits Insurance Agency Chris Wheless, Elite ... Real Estate Agency Community Insurance Group, ... Insurance Agency Lavender and Palm Massage ... Alternative Medicine Practice

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Restaurant Kitchen & Bath Showroom Storage Facility Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

11

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

969

Businesses Nearby

Explore this area Business Placement

Demographics for 23059, VA

40,249

Population

15,783

Households

2.6

Avg Household Size

40

Median Age

70%

College-Educated

97%

High-School Grad

45.8 sq mi

ZIP Area

879

Density / Sq Mi

$153,719

Median Household Income

$78,867

Median Earnings

$1,840

Median Rent

$573,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Office property with shared meeting areas, a reception space, and multiple occupied units.

Where is this office building located?

The property is located at 5380 Twin Hickory Road Glen Allen, VA.

What is the asking price?

The asking price for this property is $839,000.

What are key features of this property?

This property features: 3,600‑square‑foot office building constructed in 2004; Two‑floor configuration with reception, community, and meeting areas; 11 office units within the building