Office Building with Route
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120 W Hundred Rd, Chester, VA 23836
CC-zoned property has public water and sewer lines along the site and an installed turn lane.
Property Size6,978 SF
Lot Size2.00 Acres
Price / SF$214.96
Days on Market6
Property Features for 120 W Hundred Rd
General Information
Standard status
Active
Size
6,978 SF
Lot size
2.00 Acres
Property subtype
OFFICE
Zoning
CC
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$1,500,000
Listing Agency:
Commonwealth Commercial
(804) 793-0055
Listed By:
Brent Altaffer
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 1:50PM
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 Commonwealth Commercial
Investment Insights
Based on property information with market context.
This office property contains approximately 6,978 SF on a 2-acre site. The tract includes an existing turn lane and frontage along Route 10 and Rivers-Bend Road, providing access from two roadways. CC zoning supports a broad range of commercial and business uses.
Public water and sewer lines are located along the property. The site records approximately 49,000± ADT in traffic volume, adding measurable exposure for an office or commercial operation. The property is located at 120 W Hundred Rd in Chester, Virginia.
Public water and sewer lines are located along the property. The site records approximately 49,000± ADT in traffic volume, adding measurable exposure for an office or commercial operation. The property is located at 120 W Hundred Rd in Chester, Virginia.
Key Highlights
- Approximately 6,978± SF office property
- 2± Acres with an existing turn lane
- Frontage on Route 10 and Rivers‑Bend Road
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
$76,605
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
5.11%
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%
$1,532,100
$1.5M
Cap Rate 7%
$1,094,357
$1.1M
Cap Rate 9%
$851,167
$851.2K
Market Conditions
NOI Build-Up for 6,978 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
$118.9K $17.04/SF
− Vacancy
−$16.8K −$2.40/SF
EGI
$102.1K $14.64/SF
− OpEx
−$25.5K −$3.66/SF
NOI
$76.6K $10.98/SF
Area
Chesterfield County, VA
Vacancy
14.10%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,532,100
Cap Rate 7%
$1,094,357
Cap Rate 9%
$851,167
Alternative Uses
Best Use
Office B
$1.09M
$957.6K – $1.28M
NOI $76,605 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$13.98M
$12.23M – $16.31M
NOI $978,656 @ 7.0% cap · market cap 65.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 23836, VA
14,643
Population
5,519
Households
2.7
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
26.6 sq mi
ZIP Area
550
Density / Sq Mi
$102,114
Median Household Income
$51,654
Median Earnings
$1,622
Median Rent
$338,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - CC-zoned property has public water and sewer lines along the site and an installed turn lane.
Where is this office building located?
The property is located at 120 W Hundred Rd Chester, VA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 6,978± SF office property; 2± Acres with an existing turn lane; Frontage on Route 10 and Rivers‑Bend Road
