Retail Property with Two
For Sale
$550,000
10370 10375 10379 Chamberlayne Rd, Mechanicsville, VA 23116
Two-building commercial property with B3 zoning, highway frontage, and a detached garage.
Property Size2,588 SF
Lot Size1.65 Acres
Price / SF$212.52
Days on Market59
Property Features for 10370 10375 10379 Chamberlayne Rd
General Information
Standard status
Active
Size
2,588 SF
Lot size
1.65 Acres
Zoning
B3
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1932
Buildings
3
Tenancy
Multi
Listing Agency:
Weichert Home Run Realty
Listed By:
Emma Lee Mitchell · License #0225150896
(804) 400-5574
Source:
Riverfoxrealty
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 5 at 8:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Weichert Home Run Realty
Investment Insights
Based on property information with market context.
This retail property includes two separate buildings and a detached garage on 1.65 acres. The 1,940-square-foot red building has a heat pump replaced in 2014 and a roof replaced in 2019. The 648-square-foot white building includes a wall heat unit, a roof replaced in 2016, and a hot water heater replaced in 2022. The property was built in 1932 and is zoned B3.
Located at 10370, 10375, 10379 Chamberlayne Rd, the site has frontage on Chamberlayne Road and Rt 301. It is approximately 4 miles from 295 and near Hanover Courthouse and the Rutland Area. Two septic drainfields and one well serve the property.
Located at 10370, 10375, 10379 Chamberlayne Rd, the site has frontage on Chamberlayne Road and Rt 301. It is approximately 4 miles from 295 and near Hanover Courthouse and the Rutland Area. Two septic drainfields and one well serve the property.
Key Highlights
- Two buildings totaling 2,588 square feet on 1.65 acres
- Frontage on Chamberlayne Road and Rt 301
- B3 zoning with a detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,631
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,620
$532.6K
Cap Rate 7%
$380,443
$380.4K
Cap Rate 9%
$295,900
$295.9K
Market Conditions
NOI Build-Up for 2,588 SF
Gross rent
$38.8K $15.00/SF
− Vacancy
−$776 −$0.30/SF
EGI
$38.0K $14.70/SF
− OpEx
−$11.4K −$4.41/SF
NOI
$26.6K $10.29/SF
Area
Hanover County, VA
Vacancy
2.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,620
Cap Rate 7%
$380,443
Cap Rate 9%
$295,900
Alternative Uses
Best Use
Retail
$380.4K
$332.9K – $443.9K
NOI $26,631 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$779.3K
$681.9K – $909.1K
NOI $54,548 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,574 visits/mo
0.0 miles
Demographics for 23116, VA
32,410
Population
12,246
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
96%
High-School Grad
55.0 sq mi
ZIP Area
589
Density / Sq Mi
$139,029
Median Household Income
$61,386
Median Earnings
$1,983
Median Rent
$405,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Two-building commercial property with B3 zoning, highway frontage, and a detached garage.
Where is this retail space located?
The property is located at 10370 10375 10379 Chamberlayne Rd Mechanicsville, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two buildings totaling 2,588 square feet on 1.65 acres; Frontage on Chamberlayne Road and Rt 301; B3 zoning with a detached garage
