1101 Azalea Avenue Richmond, VA 23227
2,676 SF former bank building for sale on 0.653 AC.
- Added:
- Mar 25, 2026
- Days on Market:
- 109
- Last Refresh:
- Jul 3 at 11:21 pm
Property Features for 1101 Azalea Avenue
General Information
- Standard status
- Active
- Size
- 2,676 SF
- Lot size
- 0.65 Acres
- Property subtype
- Retail
Listing office (804) 201-2026
Listing date Mar 25, 2026
Source Cbre
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 Pam Strieffler
Investment Insights
Based on property information with market context.
Key Highlights
- High visibility location on Azalea Avenue with 17,000+ vehicles per day.
- B‑2 zoning allows for a wide range of retail/commercial uses.
- Three existing drive‑thru lanes.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.8k | $18.60 |
| − Vacancy | −$3.5k | −$1.30 |
| EGI | $46.3k | $17.30 |
| − OpEx | −$11.6k | −$4.32 |
| NOI | $34.7k | $12.97 |
