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

    8701 Park Central Dr Richmond, VA 23227

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class A office space available in Richmond, Virginia.

    Property size:
    9,940 SF
    Lot size:
    6.68 Acres

    Property Features for 8701 Park Central Dr

    General Information

    Size
    9,940 SF
    Lot size
    6.68 Acres

    We can help!

    Listing Contact
    John Carpin
    Source: Moodyscre

    Listing Agent: John Carpin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Richmond Office Space For Rent

    This Class A office space is part of a three-building, one-story office park totaling 204,696 square feet. The available space measures 9,940 square feet and is located at 8701 Park Central Dr in Richmond, VA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunton & Williams Law Firm Ricoh USA Inc Production Facility Service Partners Building Supply CorVel Association Or Organization AMR Richmond Ops Department Store

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Gym & Fitness Center Pharmacy Department Store Accounting Firm Grocery & Convenience Store Electronics & Wireless Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4381925
    Latitude
    37.6451023

    Nearby Similar for Lease

    • $5,800 /Mo
      16,988 SF

      Versatile Commercial Building in Richmond, VA

      Functional space with redevelopment potential in a growing area.
      2700 North Ave, Richmond, VA 23222
      View Details
    • $2,250 /Mo

      Hull Street Retail/Office Space

      Renovated retail/office suite with high traffic exposure.
      1208 Hull Street Rd, Richmond, VA 23224
      View Details
    • New
      $1,350 /Mo

      Richmond Office Space For Rent

      Upstairs office space near Chesterfield Towne Center with easy access.
      1241 Mall Dr, Richmond, VA 23235
      View Details
    • $5,800 /Mo
      16,988 SF

      Versatile Building in Prime Location

      Functional space suitable for various uses in a growing area.
      2700 North Ave, Richmond, VA 23222
      View Details
    • $390 /Mo

      Office Space For Lease

      Office space available for lease in Chesterfield, Virginia.
      1221 Mall Dr, Richmond, VA 23235
      View Details
    • $2,000 /Mo
      43,560 SF

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
      5604 Chamberlayne Rd, Richmond, VA 23227
      View Details
    • Contact for pricing

      VA, Richmond - Forest Hill Avenue

      Workspaces, services and support to help you work better in MN, Minnetonka - County Road
      9211 Forest Hill Ave, Richmond, VA 23235
      View Details
    • $5,800 /Mo

      Versatile Building in Prime Location

      Functional space near Battery Park with redevelopment potential.
      2700 North Ave, Richmond, VA 23222
      View Details
    • Sponsored
      New
      Contact for pricing

      Sun Truist Center

      Discover many ways to work your way in Sun Truist Center
      919 Main St, Richmond, VA 23219
      View Details
    • Sponsored
      Contact for pricing

      Westerre Parkway

      Discover many ways to work your way in Westerre Parkway
      3900 Westerre Pkwy, Richmond, VA 23233
      View Details
    • New
      Contact for pricing

      Two Paragon Place

      Discover many ways to work your way in Two Paragon Place
      6802 Paragon Pl, Richmond, VA 23230
      View Details
    • Sponsored
      New
      Contact for pricing

      Boulders Business Park

      Discover many ways to work your way in Boulders Business Park
      7400 Beaufont Springs Dr, Richmond, VA 23225
      View Details

    FAQs

    What type of property is this?
    Office units - Class A office space available in Richmond, Virginia.
    Where is this office units located?
    The property is located at 8701 Park Central Dr Richmond, VA.
    What are key features of this property?
    This property features: - Part of a Class A office park.; - One-story building.; - Total office park size: 204,696 SF.
    (804) 320-5500 Call to check price and availability
    Request Owner's contact information
    8701 Park Central Dr Richmond, VA 23227
    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.
    8701 Park Central Dr
    Richmond, VA 23227
    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
    8701 Park Central Dr Richmond, VA 23227
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Carpin
    (804) 320-5500 (804) 267-7216
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!