Retail Investment
For Sale
$8,244,756
11200 W Broad St, Glen Allen, VA 23060
For sale retail property on West Broad Street, offering investment income at a stated $13.62 PSF rent.
Property Size45,391 SF
Price / SF$181.64
Days on Market109
Property Features for 11200 W Broad St
General Information
Standard status
Active
Size
45,391 SF
Property subtype
Shopping Strip
Amenities
TROPHY "MAIN & MAIN" LOCATION
OVER-SIZED PARCEL (6.13 ACRES)
SIGNIFICANT RENT UPSIDE (MARK-TO-MARKET)
EXCEPTIONAL DEMOGRAPHICS
SUPERIOR ACCESSIBILITY
Building Details
Building Size
45,391 SF
Year Built
1999
Listing Agency:
Marcus & Millichap - Orange County
(949) 419-3246
Listed By:
Paul A. Bitonti · License #License(s): CA: 01325076
(949) 419-3246
Source:
Marcusmillichap
Added: May 8
Changed: Aug 23
Last Checked: Aug 23 at 8:36AM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
Offered for sale is a retail investment property comprising 45,391 square feet at 11200 West Broad Street in Glen Allen, Virginia. The offering is presented as an income-producing asset, with rent stated at $13.62 PSF in the materials provided.
The property is described as being positioned in the Short Pump retail submarket. Additional tenant, unit, and lease structure details were not provided, and interested parties should confirm operating terms during due diligence.
The property is described as being positioned in the Short Pump retail submarket. Additional tenant, unit, and lease structure details were not provided, and interested parties should confirm operating terms during due diligence.
Key Highlights
- Retail property for sale on West Broad Street
- Year built: 1999
- Stated rent rate of $13.62 PSF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$543,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,866,600
$10.9M
Cap Rate 7%
$7,761,857
$7.8M
Cap Rate 9%
$6,037,000
$6.0M
Market Conditions
NOI Build-Up for 45,391 SF
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.
Gross rent
$817.0K $18.00/SF
− Vacancy
−$40.9K −$0.90/SF
EGI
$776.2K $17.10/SF
− OpEx
−$232.9K −$5.13/SF
NOI
$543.3K $11.97/SF
Area
Henrico County, VA
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,866,600
Cap Rate 7%
$7,761,857
Cap Rate 9%
$6,037,000
Alternative Uses
Best Use
Retail
$7.76M
$6.79M – $9.06M
NOI $543,330 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.84M
$10.36M – $13.81M
NOI $828,865 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 23060, VA
38,288
Population
14,678
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
2,519
Density / Sq Mi
$106,685
Median Household Income
$57,492
Median Earnings
$1,696
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale retail property on West Broad Street, offering investment income at a stated $13.62 PSF rent.
Where is this retail space located?
The property is located at 11200 W Broad St Glen Allen, VA.
What is the asking price?
The asking price for this property is $8,244,756.
What are key features of this property?
This property features: Retail property for sale on West Broad Street; Year built: 1999; Stated rent rate of $13.62 PSF
