Freestanding Auto Shop with Service
For Sale
Contact for pricing
1107 Azalea Ave E, Richmond, VA 23227
B-2 zoning accommodates automotive operations and a range of other commercial uses.
Property Size2,839 SF
Lot Size0.46 Acres
Price / SF$343.43
Days on Market198
Property Features for 1107 Azalea Ave E
General Information
Standard status
Active
Size
2,839 SF
Lot size
0.46 Acres
Property subtype
Retail
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
2
Building Details
Year Built
1985
Buildings
1
Stories
1
Listing Agency:
Mid Atlantic Commercial
Listed By:
Jonathan Guion · License #VA 0226007065
(757) 620-2932
Source:
Crexi
Added: Mar 31
Changed: Oct 13
Last Checked: Oct 12 at 7:46PM
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 Mid Atlantic Commercial
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 2,839 square feet on a 0.46-acre site and includes two service bays. Built in 1985, the property was previously occupied by Jiffy Lube and is configured for automotive use while also offering flexibility for other retail or service businesses.
The property is located at 1107 Azalea Ave E in Richmond, Virginia, with access to I-95, Brook Road, and Chamberlayne Avenue, also identified as Route 301. B-2 zoning permits a broad range of commercial uses, giving the site applicability for both owner-users and investors.
The property is located at 1107 Azalea Ave E in Richmond, Virginia, with access to I-95, Brook Road, and Chamberlayne Avenue, also identified as Route 301. B-2 zoning permits a broad range of commercial uses, giving the site applicability for both owner-users and investors.
Key Highlights
- 2,839 SF freestanding building on 0.46 acres
- Two service bays for automotive operations
- B‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,985
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,700
$619.7K
Cap Rate 7%
$442,643
$442.6K
Cap Rate 9%
$344,278
$344.3K
Market Conditions
NOI Build-Up for 2,839 SF
Gross rent
$48.4K $17.04/SF
− Vacancy
−$4.1K −$1.45/SF
EGI
$44.3K $15.59/SF
− OpEx
−$13.3K −$4.68/SF
NOI
$31.0K $10.91/SF
Area
Richmond, VA
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,700
Cap Rate 7%
$442,643
Cap Rate 9%
$344,278
Alternative Uses
Best Use
Retail
$442.6K
$387.3K – $516.4K
NOI $30,985 @ 7.0% cap · market cap 3.18%
Second Best
Industrial
$257.1K
$225.0K – $300.0K
NOI $18,000 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$655.9K
$573.9K – $765.2K
NOI $45,913 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23227, VA
25,283
Population
13,351
Households
1.9
Avg Household Size
45
Median Age
47%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,199
Density / Sq Mi
$70,537
Median Household Income
$45,315
Median Earnings
$1,306
Median Rent
$329,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Richmond, VA
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Similar Off Market Nearby
- Decatur's Garage — 4031 MacArthur Ave, Richmond, VA 23227
- Auto Glass Leaders — 4328 chamberlayne ave, richmond, va 23227
- Goodyear — 5302 Lakeside Ave, Richmond, VA 23228
- Seredni Tire & Auto Center — 5302 Lakeside Ave, Richmond, VA 23228
- Seredni Tire & Auto — 5302 lakeside ave, richmond, va 23228
Frequently Asked Questions
What type of property is this?
Auto shop - B-2 zoning accommodates automotive operations and a range of other commercial uses.
Where is this auto shop located?
The property is located at 1107 Azalea Ave E Richmond, VA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2,839 SF freestanding building on 0.46 acres; Two service bays for automotive operations; B‑2 zoning
