Office/Warehouse Buildings in Fan
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12 South Lombardy Street, Richmond, VA 23220
11,865 SF office/warehouse buildings in Richmond's Fan District.
Property Size11,865 SF
Price / SF$143.28
Days on Market334
Property Features for 12 South Lombardy Street
General Information
Standard status
Active
Size
11,865 SF
Property subtype
Industrial
Zoning
R-7, UB
Site & Location
Neighborhood
Fan
Listing Agency:
Porter Realty Company, Inc.
Listed By:
Kevin E. Cox · License #VA 0225079330
(804) 402-0738
Source:
Crexi
Added: Nov 24, 2025
Changed: Oct 16
Last Checked: Oct 23 at 4:57AM
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 Porter Realty Company, Inc.
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Investment Insights
Based on property information with market context.
The property features a total of 11,865 square feet of office and warehouse buildings, situated on a 0.404-acre lot. It is zoned R-7 and UB. The location provides proximity to I-95, I-64, and I-195. It is located in the Fan District of Richmond, Virginia.
Key Highlights
- Proximate to I‑95/I‑64/I‑195
- 11,865 SF +/- Total Office/Warehouse Buildings
- Located in The Fan District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,672
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,253,440
$2.3M
Cap Rate 7%
$1,609,600
$1.6M
Cap Rate 9%
$1,251,911
$1.3M
Market Conditions
NOI Build-Up for 11,865 SF
Gross rent
$139.5K $11.76/SF
− Vacancy
−$7.0K −$0.59/SF
EGI
$132.6K $11.17/SF
− OpEx
−$19.9K −$1.68/SF
NOI
$112.7K $9.50/SF
Area
Richmond, VA
Vacancy
5.00%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,253,440
Cap Rate 7%
$1,609,600
Cap Rate 9%
$1,251,911
Alternative Uses
Best Use
Office B
$2.28M
$1.99M – $2.66M
NOI $159,524 @ 7.0% cap · market cap 9.38%
Second Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,672 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,885 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,947
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
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Market
Vacancy Rate% for Office in Richmond, VA
Similar Off Market Nearby
- Self-Storage at U-Haul — 900 N Lombardy St, Richmond, VA 23220
Frequently Asked Questions
What type of property is this?
Warehouse - 11,865 SF office/warehouse buildings in Richmond's Fan District.
Where is this warehouse located?
The property is located at 12 South Lombardy Street Richmond, VA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Proximate to I‑95/I‑64/I‑195; 11,865 SF +/- Total Office/Warehouse Buildings; Located in The Fan District
