Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space on Midlothian Turnpike Title is generated by Realmo AI

    11521 N Midlothian Turnpike, Richmond, VA

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space with high visibility on Midlothian Turnpike.

    Type:RETAIL
    Property size:
    1,540 SF
    Lot size:
    6.65 Acres
    Added:
    May 22, 2023
    Days on Market:
    1110
    Last Refresh:
    May 20 at 9:48 pm

    Property Features for 11521 N Midlothian Turnpike

    General Information

    Standard status
    Active
    Size
    1,540 SF
    Lot size
    6.65 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 11521 N Midlothian Turnpike Contact us

    We can help!

    Listing Contact
    Ellen Long
    Ellen Long

    Listing agent Ellen Long License #0225090856

    Listing office Taylor Long Properties

    Listing date May 22, 2023

    Source Moodyscre

    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 Taylor Long Properties

    HighLights

    • Excellent visibility with 720 feet of direct frontage on Midlothian Turnpike (Rte 60).
    • Located at the intersection of highly traveled Midlothian Turnpike and N. Courthouse Road.
    • Directly across from Chesterfield Towne Center.
    • Anchored by Mattress Firm and Auto Zone.
    • Close to Chesterfield Towne Center and Johnston Willis Hospital.
    • High daytime employment.

    Overview

    This retail space is located at the intersection of Midlothian Turnpike and N. Courthouse Road, offering excellent visibility with 720 feet of direct frontage on Midlothian Turnpike (Rte 60). The property is situated close to Chesterfield Towne Center and Johnston Willis Hospital and is anchored by Mattress Firm and Auto Zone. It is directly across from Chesterfield Towne Center and benefits from high daytime employment. The property offers 1540 square feet of retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tres Machos | La ... Restaurant S Page Allen ... Law Firm Mattress Firm Midlothian ... Furniture & Home Goods Frederick A Gibson & Associates Land Surveyor Perry Insurance Group Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.6099
    Latitude
    37.5046

    Nearby Similar for Lease

    • $2,650/Mo
      937 SF

      Versatile Commercial Space For Lease

      Commercial space suitable for retail, office, or service-based businesses.
      3227 Broad Rock Boulevard, Richmond, VA 23224
      View Details
    • $2,000/Mo

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
      5604 CHAMBERLAYNE Road, RICHMOND, VA 23227
      View Details
    • $1,350/Mo

      Richmond Office Space For Rent

      Upstairs office space near Chesterfield Towne Center with easy access.
      1241 Mall Drive, Richmond, VA 23235
      View Details
    • $129-$3,907/Mo
      11-1,292 SF

      VA, Richmond - Forest Hill Avenue

      9211 Forest Hill Ave, Unit 200, Richmond, VA 23235
      View Details
    • $129-$6,446/Mo
      11-1,292 SF

      Two Paragon Place

      6802 Paragon Pl, Unit 410, Richmond, VA 23230
      View Details
    • Sponsored
      $129-$5,316/Mo
      11-1,292 SF

      Sun Truist Center

      919 Main St, Unit 1000, Richmond, VA 23219
      View Details
    • Sponsored
      $129-$4,936/Mo
      11-1,292 SF

      Westerre Parkway

      3900 Westerre Pkwy, Unit 300, Richmond, VA 23233
      View Details
    • Sponsored
      $129-$4,536/Mo
      11-1,292 SF

      Boulders Business Park

      7400 Beaufont Springs Dr, Unit 300, Richmond, VA 23225
      View Details
    • $3,000/Mo
      1,200 SF

      Prime Restaurant Space in Richmond

      Second-generation restaurant space in a high-traffic, historic location.
      1318 E Cary St, Richmond, VA 23219
      View Details
    • $2,800/Mo
      6,125 SF

      Prime Retail Space in Richmond

      6,125 SF retail space in the heart of Shockoe Bottom.
      15 N 18th St, Richmond, VA 23223
      View Details
    • $5,800/Mo
      4,961 SF

      Versatile Building in Prime Location

      Functional space with redevelopment potential in a growing area.
      2700 NORTH Avenue, RICHMOND, VA 23222
      View Details
    • $2,650/Mo
      937 SF

      Versatile Commercial Space For Lease

      Flexible commercial space in high-visibility location, ideal for various businesses.
      3227 Broad Rock Blvd, Richmond, VA 23224
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with high visibility on Midlothian Turnpike.
    Where is this retail space located?
    The property is located at 11521 N Midlothian Turnpike Richmond, VA.
    What are key features of this property?
    This property features: Excellent visibility with 720 feet of direct frontage on Midlothian Turnpike (Rte 60).; Located at the intersection of highly traveled Midlothian Turnpike and N. Courthouse Road.; Directly across from Chesterfield Towne Center.
    (804) 539-7793 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ellen Long
    Ellen Long
    Real Estate License ID: 0225090856
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11521 N Midlothian Turnpike, Richmond, VA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!