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    2801 Hicks Rd North Chesterfield, VA 23235

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    For Lease
    Contact for pricing

    Land available for rent near Kroger with development potential.

    Lot size:
    1.76 Acres

    Property Features for 2801 Hicks Rd

    General Information

    Lot size
    1.76 Acres

    We can help!

    Listing Contact
    Thomas Siffermann
    Thomas Siffermann
    Source: Moodyscre

    Listing Agency: Sandor/Sand Capital - Corporate Listing Agent: Thomas Siffermann

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

    Learn more

    Property Insight Report

    Overview

    Commercial Land Near Kroger

    This commercial land is located adjacent to a high-volume Kroger. A proposed 15,000-square-foot small shop future development is planned for the site. The parcel can be split to modify specific use. Daily traffic counts are approximately 36,000 on Hull Street Road and 12,000 on Hicks Road.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Redbox Cinema Kroger Money Services Bank Coinstar Kiosk | Bitcoin ... Atm Brandon P. Evans, ... Pharmacy Jessica N. Farmer, ... Pharmacy

    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.

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.5496662
    Latitude
    37.4613105

    Nearby Similar for Lease

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      1,350 SF

      Anchored Shopping Center Space Available

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      Retail Spaces Available for Lease

      Retail spaces for lease in a rapidly growing submarket.
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      Renovated Office Suite For Rent

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      Move-in Ready Office Suites Available

      Office suites available from 1,207 SF to 7,382 SF.
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    • $25 SF/Yr
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      Restaurant Space in Chesterfield Center

      Second generation restaurant space available immediately in Chesterfield.
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      Office Space with Loft Area

      Office space featuring a loft, customizable floor plans, and ample parking.
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    • Contact for pricing
      1,420 SF

      Hull Street Road Office Space

      Office space with high visibility and ample parking available for rent.
      7200 Hull Street Rd, North Chesterfield, VA 23235
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    • Contact for pricing
      9,086 SF

      Retail Space Next to Kroger

      Retail space available Summer 2020 next to Kroger Marketplace.
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    FAQs

    What type of property is this?
    Land - Land available for rent near Kroger with development potential.
    Where is this land located?
    The property is located at 2801 Hicks Rd North Chesterfield, VA.
    What are key features of this property?
    This property features: - Adjacent to high-volume Kroger, offering excellent exposure.; - High daily traffic counts: 36,000 on Hull Street Road.; - Proposed 15,000-sf small shop future development.
    (877) 925-9011 Call to check price and availability
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    2801 Hicks Rd North Chesterfield, VA 23235
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    North Chesterfield, VA 23235
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    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
    2801 Hicks Rd North Chesterfield, VA 23235
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Thomas Siffermann
    Thomas Siffermann
    (877) 925-9011 (317) 524-7819
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