Shoppes at Bellgrade Strip
For Sale
$2,600,000
11422 W Huguenot Rd, Midlothian, VA 23113
Established retail property with a 1996 construction date in Midlothian, Virginia.
Property Size7,452 SF
Price / SF$348.90
Days on Market196
Property Features for 11422 W Huguenot Rd
General Information
Standard status
Active
Size
7,452 SF
Property subtype
Shopping Strip
Amenities
7,452 Square Feet Retail Strip Center | Two (2) Units | NNN Leases
Outparcel to Top 10 Kroger in Richmond, VA MSA (Source: Placer Ai)
Value-Add Opportunity Pharmacy Ready to Vacate w/ 60 Day Notice
1.13 Acres | 44 Parking Spaces | New Roof Added in 2013
Great Clips: 3% Annual Escalations | Verizon Cell Tower: Additional Income
Dark Pharmacy Still Paying Rent Below Market Rent
Year 3 Stabilized Cap Rate: 9.00%
Kroger Anchor Center Draws 1.8 Million Visitors Annually (Source: Placer Ai)
Building Details
Building Size
7,452 SF
Year Built
1996
Listing Agency:
Marcus & Millichap - Richmond
Listed By:
Harrison Jones · License #License(s): VA: 0225265219
(804) 802-6882
Source:
Marcusmillichap
Added: Apr 3
Changed: Oct 4
Last Checked: Oct 14 at 7:47PM
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 - Richmond
Investment Insights
Based on property information with market context.
Shoppes at Bellgrade is a strip mall comprising 7,452 square feet of retail space. The property was constructed in 1996 and is located at 11422 W Huguenot Rd in Midlothian, Virginia 23113.
Key Highlights
- 7,452‑square‑foot strip mall
- Built in 1996
- Located at 11422 W Huguenot Rd, Midlothian, VA 23113
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,452
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,889,040
$1.9M
Cap Rate 7%
$1,349,314
$1.3M
Cap Rate 9%
$1,049,467
$1.0M
Market Conditions
NOI Build-Up for 7,452 SF
Gross rent
$141.3K $18.96/SF
− Vacancy
−$6.4K −$0.85/SF
EGI
$134.9K $18.11/SF
− OpEx
−$40.5K −$5.43/SF
NOI
$94.5K $12.67/SF
Area
Chesterfield County, VA
Vacancy
4.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,889,040
Cap Rate 7%
$1,349,314
Cap Rate 9%
$1,049,467
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.57M
NOI $94,452 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$14.93M
$13.06M – $17.42M
NOI $1,045,134 @ 7.0% cap · market cap 40.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
163k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Dining 34%
Shops & Services 14%
Beauty & Spa 2%
Kroger
Groceries
44,946 visits/mo
0.2 miles
Publix
Groceries
30,556 visits/mo
0.3 miles
Starbucks
Dining
15,394 visits/mo
0.2 miles
Outback Steakhouse
Dining
12,345 visits/mo
0.2 miles
Firebirds Wood Fired Grill
Dining
7,634 visits/mo
0.1 miles
Demographics for 23113, VA
26,190
Population
10,317
Households
2.5
Avg Household Size
46
Median Age
70%
College-Educated
98%
High-School Grad
36.5 sq mi
ZIP Area
718
Density / Sq Mi
$150,673
Median Household Income
$75,423
Median Earnings
$1,736
Median Rent
$580,200
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?
Strip mall - Established retail property with a 1996 construction date in Midlothian, Virginia.
Where is this strip mall located?
The property is located at 11422 W Huguenot Rd Midlothian, VA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 7,452‑square‑foot strip mall; Built in 1996; Located at 11422 W Huguenot Rd, Midlothian, VA 23113
