Building Details

Building Size 2,200 SF

Year Built 1937

Buildings 1

Stories 2

Listing Agency: Taylor Long Properties

Listed By: Robert Marshall · License #0225192463 Show Phone

Source: Taylorlongproperties

Added: Oct 4 Last Checked: Oct 7 at 8:57AM

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Investment Insights

Based on property information with market context.

This two-story office building contains 2,200 square feet and was built in 1937. The property sits on 0.81 acres and is zoned B-3 in Henrico County. Its 20-foot building height and nine parking spaces add practical details to the office configuration.

Located in the East End of Henrico, the property fronts East 9 Mile Road. Reported traffic counts are 11,000 vehicles per day on East 9 Mile Road and 21,000 vehicles per day on Airport Drive.

Key Highlights

• 2,200 SF two‑story office building
• 0.81‑acre parcel zoned B‑3 in Henrico County
• Nine parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,018

Cap Rate

7.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$480,360 $480.4K

Cap Rate 7%

$343,114 $343.1K

Cap Rate 9%

$266,867 $266.9K

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$36.4K $16.56/SF

− Vacancy

−$4.4K −$2.00/SF

EGI

$32.0K $14.56/SF

− OpEx

−$8.0K −$3.64/SF

NOI

$24.0K $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%

$480,360

Cap Rate 7%

$343,114

Cap Rate 9%

$266,867

Alternative Uses

Best Use

Office B

$343.1K

$300.2K – $400.3K (±1% cap)

NOI $24,018 @ 7.0% cap · market cap 7.07%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$573.9K

$502.2K – $669.6K (±1% cap)

NOI $40,173 @ 7.0% cap · market cap 11.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Joe Lam - State ... Insurance Agency

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Law Firm Building Supply Big Box & Wholesale Store

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

Location Intelligence

Trade Area within ½ mile

290

Businesses Nearby

Explore this area Business Placement

Demographics for 23075, VA

10,236

Population

3,796

Households

2.7

Avg Household Size

38

Median Age

22%

College-Educated

89%

High-School Grad

4.6 sq mi

ZIP Area

2,225

Density / Sq Mi

$50,947

Median Household Income

$34,407

Median Earnings

$1,252

Median Rent

$198,900

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Frequently Asked Questions

What type of property is this?

Office building - B-3-zoned office space includes on-site parking and occupies a nearly acre-sized parcel.

Where is this office building located?

The property is located at 1007 East 9 Mile Road Highland Springs, VA.

What is the asking price?

The asking price for this property is $339,950.

What are key features of this property?

This property features: 2,200 SF two‑story office building; 0.81‑acre parcel zoned B‑3 in Henrico County; Nine parking spaces