Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2221 Edward Holland Dr Richmond, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Six-story office building near Libbie Mill mixed-use development.

    Type:OFFICE
    Property size:
    8,519 SF
    Lot size:
    12.99 Acres
    Added:
    Oct 4, 2023
    Days on Market:
    935
    Last Refresh:
    Apr 5 at 9:06 pm

    Property Features for 2221 Edward Holland Dr

    General Information

    Standard status
    Active
    Size
    8,519 SF
    Lot size
    12.99 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 2221 Edward Holland Dr Contact us

    We can help!

    Listing Contact
    John Carpin

    Listing agent John Carpin

    Listing office Colliers | Richmond North

    Listing date Oct 4, 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 Colliers | Richmond North

    Overview

    Class A Suburban Office Building

    This six-story Class A suburban office building offers 192,807 square feet of space. Constructed in 1990 and with building systems renovated in 2009, it features surface parking at a ratio of 5.2 spaces per 1,000 square feet. Exterior building signage is available for large users. Building amenities include a refreshment lounge, loading dock, and covered exterior patio. The property is located off Staples Mill Road, approximately 0.5 miles from the I-64/Staples Mill interchange, providing access to the Richmond area, major roads, interstates, and retail. It is adjacent to the Libbie Mill urban mixed-use development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anthem Blue Cross ... Insurance Agency Schukman Jay S ... Physician Colliers International Real Estate Agency FedEx Drop Box Shipping Company WPM MidSouth Construction Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
    -77.4895
    Latitude
    37.5903

    Nearby Similar for Lease

    • $2,650/Mo

      Versatile Commercial Space For Lease

      Commercial space suitable for retail, office, or service-based businesses.
      3227 Broad Rock Boulevard, Richmond, VA 23224
      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
    • $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
    • $5,800/Mo

      Versatile Building in Prime Location

      Functional space suitable for various uses in a growing area.
      2700 North Avenue, Richmond, VA 23222
      View Details
    • $5,800/Mo

      Versatile Building in Prime Location

      Functional space with redevelopment potential in a growing area.
      2700 NORTH Avenue, RICHMOND, VA 23222
      View Details
    • $21 SF/Yr

      Modern Office Space Available

      Creative office space for rent in Manchester neighborhood.
      220 Hull Street, Richmond, VA 23224
      View Details
    • $18 SF/Yr

      Downtown Richmond Office Space Available

      2,900 SF office space for rent in downtown Richmond.
      1015 E Main Street, Richmond, VA 23219
      View Details
    • $22 SF/Yr

      Richmond Retail Space For Rent

      Retail space available in vibrant Richmond shopping center.
      8000 Buford Court, Richmond, VA, 23235
      View Details
    • Contact for pricing

      VA, Richmond - Forest Hill Avenue

      9211 Forest Hill Ave, Unit 200, Richmond, VA 23235
      View Details
    • Sponsored
      Contact for pricing

      Two Paragon Place

      6802 Paragon Pl, Unit 410, Richmond, VA 23230
      View Details
    • Contact for pricing

      Sun Truist Center

      919 Main St, Unit 1000, Richmond, VA 23219
      View Details
    • Sponsored
      Contact for pricing

      Westerre Parkway

      3900 Westerre Pkwy, Unit 300, Richmond, VA 23233
      View Details

    FAQs

    What type of property is this?
    Office building - Six-story office building near Libbie Mill mixed-use development.
    Where is this office building located?
    The property is located at 2221 Edward Holland Dr Richmond, VA.
    What are key features of this property?
    This property features: Prime location: just .5 miles to I‑64/Staples Mill interchange offering unparalleled access to the Richmond area.; Class A office building totaling 192,807 SF.; Adjacent to the $434 million Libbie Mill urban mixed‑use development.
    (804) 320-5500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Carpin
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!