Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    51 S Airport Dr Henrico, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    0.834 acre land parcel at Airport Dr. & E. Nine Mile Rd.

    Type:LAND
    Lot size:
    0.83 Acres
    Added:
    May 15, 2023
    Days on Market:
    1082
    Last Refresh:
    Apr 5 at 11:26 pm

    Property Features for 51 S Airport Dr

    General Information

    Standard status
    Active
    Lot size
    0.83 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Yasmine Hamad

    Listing agent Yasmine Hamad

    Listing office Partner Commercial

    Listing date May 15, 2023

    Source Moodyscre

    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 Partner Commercial

    Overview

    Land Parcel at Signalized Intersection

    This property features a \u00b1 0.834 acre site, identified as parcel 825-721-5136. It is located at a signalized intersection at Airport Dr. & E. Nine Mile Rd. The zoning is R-5.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.3213
    Latitude
    37.5361

    Nearby Similar for Sale

    • $498,000
      1,799 SF

      First Floor Living in Henrico

      Spacious, one-level condo in gated community near University of Richmond.
      6161 River Road, Henrico, VA 23226
      View Details
    • $190,000

      Henrico County Wooded Land

      6.08 acres of wooded land in Henrico County, Virginia.
      7200 Strath Road, Henrico, VA 23231
      View Details
    • $25,000

      Residential Lots in Henrico County

      9 residential lots for sale in established Henrico community.
      Dabbs House Road, Henrico, VA 23223
      View Details
    • $180,000

      Henrico Land with Commercial Potential

      2.29 acres with high visibility in a growing area.
      621 N Airport Drive, Henrico, VA 23075
      View Details
    • $199,900

      Henrico Land on Chickahominy River

      20+ acres of land in Henrico County, Virginia.
      1600 N Washington Street, Henrico, VA 23075
      View Details
    • $30,000

      Secluded Wooded Acreage in Henrico

      Private, wooded 1.022-acre lot with long driveway potential.
      Britton Road, Henrico, VA 23231
      View Details
    • $279,950

      Henrico Land For Sale

      Commercial land available in Henrico, Virginia, with office zoning.
      1113 W Nine Mile Road, Henrico, VA 23075
      View Details
    • $92,500

      5 Acres Undeveloped Land, Henrico

      5 acres of residentially zoned undeveloped land in Henrico, VA.
      3470 Britton Road, Henrico, VA 23231
      View Details
    • $160,000

      Henrico, VA Land Available

      1.5 acre commercial land for sale in Henrico, VA.
      3401 Duke Street, Henrico, VA 23222
      View Details
    • $50,000

      Land For Sale, Henrico, VA

      Commercial land available in Henrico, Virginia.
      000000 Milton Street, Henrico, VA 23222
      View Details
    • $15,000

      Henrico County Vacant Land For Sale

      Vacant lot in Henrico County, zoned A-1, 0.3 acres.
      7671 Turner Road, Henrico, VA 23231
      View Details
    • $250,000

      Goochland County Wooded Lot

      1.5 acre wooded lot near Richmond Country Club.
      Creekmore Road, Henrico, VA 23238
      View Details

    FAQs

    What type of property is this?
    Land - 0.834 acre land parcel at Airport Dr. & E. Nine Mile Rd.
    Where is this land located?
    The property is located at 51 S Airport Dr Henrico, VA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: ± 0.834 acre site; Signalized intersection at Airport Dr. & E. Nine Mile Rd.; Zoned R‑5
    (804) 308-8109 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Yasmine Hamad
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!