Second-Floor Office Condominium
For Sale
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1173 Jefferson Green Circle, Midlothian, VA 23113
Second-floor office suite with six private offices, a large multipurpose room, and client and staff restrooms.
Property Size2,191 SF
Price / SF$230.49
Days on Market183
Property Features for 1173 Jefferson Green Circle
General Information
Standard status
Active
Size
2,191 SF
Class
A
Property subtype
Office
Zoning
O2
Building Details
Year Built
2007
Units
10
Tenancy
Single
Listing Agency:
ICON Commercial Group
Listed By:
Colby Kay · License #VA0225090820
(804) 293-2621
Source:
Crexi
Added: Apr 23
Changed: Oct 8
Last Checked: Oct 20 at 7:01PM
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 ICON Commercial Group
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Investment Insights
Based on property information with market context.
This second-floor office condominium suite offers an efficient, flexible layout for professional use. Suite 3A includes six private offices and a large multipurpose room that can function as a conference or collaborative space, with the ability to be converted into two additional offices. The suite also features two client restrooms and a private staff restroom with a shower.
The property is located at 1173 Jefferson Green Circle in Midlothian, VA, within a well-established commercial corridor setting. The exterior is described as brick, with well-maintained interiors.
The space is presented as a polished, adaptable office option for an owner-user or investor, with the configuration supporting both private work areas and shared meeting or project space.
The property is located at 1173 Jefferson Green Circle in Midlothian, VA, within a well-established commercial corridor setting. The exterior is described as brick, with well-maintained interiors.
The space is presented as a polished, adaptable office option for an owner-user or investor, with the configuration supporting both private work areas and shared meeting or project space.
Key Highlights
- 2,191 SF second‑floor office condominium suite in 2007‑built property
- Layout includes 6 private offices plus a large multipurpose room for meetings or flexible office use
- Two client restrooms and a private staff restroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,053
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,060
$481.1K
Cap Rate 7%
$343,614
$343.6K
Cap Rate 9%
$267,256
$267.3K
Market Conditions
NOI Build-Up for 2,191 SF
Gross rent
$37.3K $17.04/SF
− Vacancy
−$5.3K −$2.40/SF
EGI
$32.1K $14.64/SF
− OpEx
−$8.0K −$3.66/SF
NOI
$24.1K $10.98/SF
Area
Chesterfield County, VA
Vacancy
14.10%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,060
Cap Rate 7%
$343,614
Cap Rate 9%
$267,256
Alternative Uses
Best Use
Office B
$343.6K
$300.7K – $400.9K
NOI $24,053 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.39M
$3.84M – $5.12M
NOI $307,285 @ 7.0% cap · market cap 60.85%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor office suite with six private offices, a large multipurpose room, and client and staff restrooms.
Where is this office unit located?
The property is located at 1173 Jefferson Green Circle Midlothian, VA.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: 2,191 SF second‑floor office condominium suite in 2007‑built property; Layout includes 6 private offices plus a large multipurpose room for meetings or flexible office use; Two client restrooms and a private staff restroom with shower
