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

    1070 Virginia Center Pkwy Glen Allen, VA

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

    Retail space available in shopping center with strong tenant mix.

    Type:RETAIL
    Property size:
    24,400 SF
    Lot size:
    4.90 Acres
    Added:
    Mar 20, 2023
    Days on Market:
    1138
    Last Refresh:
    Apr 5 at 9:46 pm

    Property Features for 1070 Virginia Center Pkwy

    General Information

    Standard status
    Active
    Size
    24,400 SF
    Lot size
    4.90 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1070 Virginia Center Pkwy Contact us

    We can help!

    Listing Contact
    Annie O'Connor
    Annie O'Connor

    Listing agent Annie O'Connor

    Listing office Cushman & Wakefield | Thalhimer - Corporate

    Listing date Mar 20, 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 Cushman & Wakefield | Thalhimer - Corporate

    Overview

    Retail Space in Glen Allen

    This retail space is located in a shopping center with a strong tenant mix. The property offers access from Route 1 and Virginia Center Parkway. It is situated in close proximity to residential areas and the I-95 and I-295 interchange. The property has a size of 24,400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chipotle Mexican Grill Restaurant Q Barbeque Restaurant Firehouse Subs Virginia ... Take-out & Catering Mattress Firm Glen ... Furniture & Home Goods Marco's Pizza Restaurant

    Suggested Use

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

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

    Similar Places Nearby

    • Virginia Center Marketplace — 10106 Brook Rd, Glen Allen, VA 23059
    • Creeks at Virginia Centre — 9850 Brook Rd, Glen Allen, VA 23059
    • Coin Cloud Bitcoin ATM — 9999 Brook Rd, Glen Allen, VA 23059

    Location Insight

    • Map
    • Local Demand
    City
    Glen Allen
    County
    Henrico
    State
    Virginia
    Longitude
    -77.4588
    Latitude
    37.6668

    Nearby Similar for Lease

    • $6,500/Mo

      Restaurant-Ready Space on Brook Road

      Restaurant-ready space with high visibility and existing infrastructure.
      9999 Brook Rd, Glen Allen, VA 23059
      View Details
    • Sponsored
      Contact for pricing

      Glen Allen

      4870 Sadler Rd, Unit 300, Glen Allen, VA 23060
      View Details
    • $29 SF/Yr

      Retail Space Near I-95

      Retail spaces available in high-demand shopping center near I-95.
      1080 Virginia Center Parkway, Glen Allen, VA, 23059
      View Details
    • Contact for pricing

      Glen Allen Restaurant Opportunity

      Freestanding restaurant shell space available for lease in Glen Allen.
      9010 Brook Road, Glen Allen, VA 23060
      View Details
    • $17 SF/Yr

      Renovated Office Building in Raleigh-Durham

      Class A office building with modern amenities in the Triangle.
      4190-4196 Innslake Dr, Glen Allen, VA
      View Details
    • Contact for pricing

      Retail Strip Center on Broad

      Retail spaces for lease in active Richmond corridor.
      10180 & 10182 West Broad Street, Glen Allen, VA 23060
      View Details
    • Contact for pricing

      Retail Spaces Near Short Pump

      Retail, restaurant, and office spaces near Short Pump Town Center.
      11740 W Broad St | Glen Allen, VA 23233
      View Details
    • Contact for pricing

      Glen Allen Office Space Available

      Office space for rent in a prime Glen Allen location.
      5300 Hickory Park Dr, Glen Allen, VA 23059
      View Details
    • $14 SF/Yr

      Class A Office in Innsbrook

      Class A office space with lakefront views and modern amenities.
      10900 Nuckols Road, Glen Allen, VA, 23060
      View Details
    • $20 SF/Yr

      Glen Allen Medical Office Space

      Medical office space for lease in Glen Allen, Virginia.
      11551 Nuckols Rd, Glen Allen, VA
      View Details
    • $22 SF/Yr

      Innsbrook Corporate Center Office Space

      Two-story office space in Richmond's Innsbrook Corporate Center.
      4400 Cox Rd, Glen Allen, VA
      View Details
    • Contact for pricing

      Prominent Office Building For Lease

      Office building with signage and covered parking available for lease.
      2151 Old Brick Road, Glen Allen, VA, 23060
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in shopping center with strong tenant mix.
    Where is this shopping center located?
    The property is located at 1070 Virginia Center Pkwy Glen Allen, VA.
    What are key features of this property?
    This property features: Access from Rte 1 & Virginia Center Pkwy; Close proximity to I‑95 & I‑295 interchange; Close proximity to strong residential demos
    (804) 648-5881 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Annie O'Connor
    Annie O'Connor
    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!