Sign Up Successful!
You now have access to more from Realmo!
    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

    14401 Sommerville Ct Midlothian, VA 23113

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $23 SF/Yr ($5,619 /Mo)

    Office space available in prominent Midlothian building.

    Property size:
    2,932 SF
    Lot size:
    0.97 Acres

    Property Features for 14401 Sommerville Ct

    General Information

    Size
    2,932 SF
    Lot size
    0.97 Acres

    We can help!

    Listing Contact
    Tucker Dowdy
    Tucker Dowdy
    Source: Moodyscre

    Listing Agent: Tucker Dowdy

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

    Learn more

    Overview

    Midlothian Turnpike Office Space

    Located on Midlothian Turnpike, this office building offers a suite available on the 2nd floor, Suite A, encompassing approximately 2,932 square feet. The building benefits from high visibility with approximately 37,000 vehicles per day. It is situated in an area with high demographics and offers building signage. The property features a medical-grade parking ratio of over 4.5 spaces per 1,000 square feet and is elevator-served. Immediate access to Route 288 interchange is available, and numerous amenities, including Winterfield Crossing and Westchester Commons, are located nearby. The lease rate is $23 per square foot, NNN.
    Location Intelligence

    Current Use by Public Records

    Lewis T. Ladocsi, ... Surgeon Aboutanos Plastic Surgery: ... Plastic Surgeon Dr. Darrin Hubert Plastic Surgeon Celebration Title Group Title Company Palmetto Infusion - Midlothian Medical Clinic

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6748451
    Latitude
    37.5083668

    Nearby Similar for Lease

    • Contact for pricing
      2,000 SF

      Mixed-Use Development in Midlothian

      25-acre mixed-use development with retail, restaurant, and office spaces.
      14250 Winterview Pkwy, Midlothian, VA
      View Details
    • Contact for pricing
      1,348 SF

      Mixed-Use Development in Midlothian

      New mixed-use development with retail, restaurant, and office spaces.
      14231 Winterview Pkwy, Midlothian, VA
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Wilton Square

      Neighborhood shopping center in Brandermill with diverse tenant mix.
      13603-13625 Genito Rd, Midlothian, VA 23112
      View Details
    • Contact for pricing
      2,811 SF

      Mixed-Use Development in Chesterfield County

      Mixed-use development with retail, restaurant, and office spaces for lease.
      14210 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • $21 SF/Yr
      6,061 SF

      Midlothian Medical Office Space

      Prime Medical Office Suites Available
      2901-2949 Fox Chase Ln, Midlothian, VA 23112
      View Details
    • Contact for pricing
      11,454 SF

      New Retail Development with Townhomes

      New retail development with grocery anchor and residential component.
      Midlothian Tpke & Alverser Dr, Midlothian, VA
      View Details
    • $19 SF/Yr
      43,059 SF

      Woodlake Commons: Midlothian Office Space

      Midlothian office complex, multiple suites available.
      6920 Woodlake Commons Loop, Midlothian, VA 23112
      View Details
    • Contact for pricing
      4,546 SF

      Midlothian Executive Office Space

      Premium Office Suites Available Now
      5309 Commonwealth Centre Pkwy, Midlothian, VA 23112
      View Details
    • Contact for pricing
      168,770 SF

      Midlothian Retail Center Investment

      Prime Midlothian retail space available.
      14271 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • Contact for pricing
      271,215 SF

      Midlothian Retail Space Available

      Prime Midlothian retail space, 4,000-8,000 sq ft.
      10939 Hull Street Rd, Midlothian, VA 23112
      View Details
    • Contact for pricing
      155,074 SF

      Midlothian Flex Space - Hull Street Rd

      Prime Retail/Industrial Flex Space in Midlothian, VA
      10600 Hull Street Rd, Midlothian, VA 23112
      View Details
    • Contact for pricing
      102,406 SF

      Sycamore Square Retail Center

      Midlothian, VA Strip Center - 41,932 SF Available
      1220-1348 Sycamore Square Dr, Midlothian, VA 23113
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available in prominent Midlothian building.
    Where is this office space located?
    The property is located at 14401 Sommerville Ct Midlothian, VA.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: - Prominent office building on Midlothian Turnpike with high visibility (37,000± VPD); - Medical-grade parking ratio (4.5+ spaces/1,000± SF); - Immediate access to Route 288 interchange
    (804) 346-4966
    Request Owner's contact information
    14401 Sommerville Ct Midlothian, VA 23113
    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.
    14401 Sommerville Ct
    Midlothian, VA 23113
    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
    14401 Sommerville Ct Midlothian, VA 23113
    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
    Tucker Dowdy
    Tucker Dowdy
    (804) 346-4966
    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.