Medical Office Condo For
For Sale
Contact for pricing
2530 Gaskins Rd, Richmond, VA
Medical office condo in desirable West End location.
Property Size2,919 SF
Lot Size6.82 Acres
Price / SF$325.45
Days on Market484
Property Features for 2530 Gaskins Rd
General Information
Standard status
Active
Size
2,919 SF
Lot size
6.82 Acres
Property subtype
OFFICE
Listing Agency:
Taylor Long Properties
(804) 864-9788
Listed By:
Rebecca von Meister · License #VA0225232694
(757) 298-2016
Source:
Moodyscre
Added: May 15, 2025
Changed: Aug 13
Last Checked: Sep 10 at 8:09AM
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 Taylor Long Properties
Investment Insights
Based on property information with market context.
This 2,535 square foot medical office condo is available for sale. It is located in the West End of Henrico County. The property is a fully built-out medical office condo. All furniture, fixtures, and equipment (FFE) convey with the sale. The location benefits from high traffic volume, with 14,000 vehicles per day (VPD) on Gaskins Road and 30,000 VPD on Ridgefield Parkway.
Key Highlights
- Fully built out medical office condo
- Located in the highly desirable West End of Henrico County
- All FFE convey
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,867
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,340
$837.3K
Cap Rate 7%
$598,100
$598.1K
Cap Rate 9%
$465,189
$465.2K
Market Conditions
NOI Build-Up for 2,919 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.0K $26.04/SF
− Vacancy
−$6.2K −$2.14/SF
EGI
$69.8K $23.90/SF
− OpEx
−$27.9K −$9.56/SF
NOI
$41.9K $14.34/SF
Area
Richmond, VA
Vacancy
8.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,340
Cap Rate 7%
$598,100
Cap Rate 9%
$465,189
Alternative Uses
Best Use
Healthcare Medical
$598.1K
$523.3K – $697.8K
NOI $41,867 @ 7.0% cap · market cap 4.41%
Second Best
Office B
$560.7K
$490.6K – $654.1K
NOI $39,246 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$674.4K
$590.1K – $786.8K
NOI $47,207 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo in desirable West End location.
Where is this medical office space located?
The property is located at 2530 Gaskins Rd Richmond, VA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Fully built out medical office condo; Located in the highly desirable West End of Henrico County; All FFE convey
