Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8545 Patterson Ave Henrico, VA

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Three-story office building in Henrico County, Virginia for lease.

    Property size:
    920 SF
    Lot size:
    0.46 Acres

    Property Features for 8545 Patterson Ave

    General Information

    Size
    920 SF
    Lot size
    0.46 Acres

    We can help!

    Listing Contact
    Hank Miller
    Source: Moodyscre

    Listing Agent: Hank Miller

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

    Learn more

    Overview

    Henrico County Office Space Available

    The offices at Parham and Patterson is a three-story office building located on Patterson Avenue at Parham Road in Henrico County, Virginia. The property at 8545 Patterson Avenue is suitable for small office professionals due to its proximity to Chippenham Parkway and the west end of Richmond. The property offers 920 square feet of office space. Tenants have access to amenities including stores, restaurants, shopping centers, and major malls within minutes of the building.
    Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.6421577
    Latitude
    37.59161

    Nearby Similar for Lease

    • Contact for pricing
      1,496 SF

      Richmond West End Office Space

      Suites available in a convenient Richmond office park location.
      1610 Frst Ave, Henrico, VA
      View Details
    • Contact for pricing
      17,440 SF

      Redevelopment Opportunity in Forest Office

      Office space for rent near Henrico Doctors’ Hospital.
      8004 Franklin Farms Dr, Henrico, VA
      View Details
    • Contact for pricing
      6,000 SF

      John Rolfe Retail Space Available

      Publix-anchored shopping center with inline spaces and outparcel sites.
      2208-2316 John Rolfe Pkwy, Henrico, VA
      View Details
    • Contact for pricing
      965 SF

      Lauderdale Square Retail Space

      Retail space in Food Lion anchored shopping center for lease.
      3151-3171 Lauderdale Dr, Henrico, VA
      View Details
    • Contact for pricing
      800 SF

      Retail Space in Lauderdale Square

      Retail space available in Food Lion anchored shopping center.
      3061-3091 Lauderdale Dr, Henrico, VA
      View Details
    • Contact for pricing
      582,424 SF

      Spacious Industrial Warehouse in Henrico

      Large 583,100 SF warehouse with modern features for lease.
      7011 S Laburnum Ave, Henrico, VA
      View Details
    • Contact for pricing
      573 SF

      Two-Story Office Building For Rent

      54,778 SF office building in Richmond's West End.
      1606 Santa Rosa Rd, Henrico, VA
      View Details
    • Contact for pricing
      3,125 SF

      Retail Space in Tuckahoe Village

      Food Lion anchored shopping center in Henrico County for lease.
      11224-11280 Patterson Ave, Henrico, VA
      View Details
    • Contact for pricing
      2,011 SF

      Upscale Retail Space in Henrico

      High-end retail space in Short Pump's GreenGate mixed-use development.
      12191 W Broad St, Henrico, VA
      View Details
    • Contact for pricing
      1,975 SF

      Henrico Flex Building Complex

      Multi-use flex building complex in the heart of Henrico County.
      2500-2518 Gayton Ctr Dr, Henrico, VA
      View Details
    • Contact for pricing
      70,018 SF

      White Oak Village Retail Center

      Richmond, VA Shopping Center: 8 Suites Available
      4501 Laburnum Ave, Henrico, VA 23231
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space Near Short Pump

      Retail space adjacent to Short Pump Town Center.
      11881 W Broad St, Henrico, VA
      View Details

    FAQs

    What type of property is this?
    Office space - Three-story office building in Henrico County, Virginia for lease.
    Where is this office space located?
    The property is located at 8545 Patterson Ave Henrico, VA.
    What are key features of this property?
    This property features: - Convenient location at the intersection of Patterson Avenue and Parham Road in Henrico County, Virginia.; - Proximity to Chippenham Parkway and the West End of Richmond.; - Access to numerous nearby amenities including stores, restaurants, shopping centers, and major malls.
    (804) 512-2041
    Request Owner's contact information
    8545 Patterson Ave Henrico, VA
    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.
    8545 Patterson Ave
    Henrico, VA
    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
    8545 Patterson Ave Henrico, VA
    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!
    Listing Contact
    Hank Miller
    (804) 512-2041
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.