Brick Flex Building with Bay
For Sale
$595,000
Pending
1201 N 25th St, Richmond, VA 23223
B2-zoned, single-story property offers an open layout for retail or office uses with rear yard access.
Property Size3,319 SF
Days on Market278
Property Features for 1201 N 25th St
General Information
Standard status
Pending
Size
3,319 SF
Zoning
B2
Site & Location
Corner Location
Yes
Fenced Yard
Yes
Building Details
Buildings
1
Stories
1
Construction
brick
Listing Agency:
HAAS Realty Group
(804) 349-5788
Listed By:
Susan Haas · License #0225083094
(804) 349-5788
Source:
Exprealty
Added: Nov 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:34PM
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 HAAS Realty Group
Investment Insights
Based on property information with market context.
This 3319 SF single-story flex building has a brick exterior, an open interior, large windows, and 2 bay doors. The layout includes a reception area, 2 bathrooms, 2 smaller rooms, and a private fenced yard at the rear. B2 zoning allows retail or office uses in buildings up to 5 stories.
The property is located on N 25th St in Richmond, within the Church Hill North Commercial Corridor. It is 1 mile from the VCU Dentist School by way of the Martin Luther Bridge, with access to interstate routes, the downtown business area, shopping, dining, and MCV/VCU. A contiguous 17' wide lot is also available, allowing .24 acres combined.
The property is located on N 25th St in Richmond, within the Church Hill North Commercial Corridor. It is 1 mile from the VCU Dentist School by way of the Martin Luther Bridge, with access to interstate routes, the downtown business area, shopping, dining, and MCV/VCU. A contiguous 17' wide lot is also available, allowing .24 acres combined.
Key Highlights
- 3319 SF single‑story brick flex building
- Open interior with large windows and 2 bay doors
- B2 zoning permits retail or office uses up to 5 stories
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
$36,224
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
6.09%
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%
$724,480
$724.5K
Cap Rate 7%
$517,486
$517.5K
Cap Rate 9%
$402,489
$402.5K
Market Conditions
NOI Build-Up for 3,319 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
$56.6K $17.04/SF
− Vacancy
−$4.8K −$1.45/SF
EGI
$51.7K $15.59/SF
− OpEx
−$15.5K −$4.68/SF
NOI
$36.2K $10.91/SF
Area
Richmond, VA
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$724,480
Cap Rate 7%
$517,486
Cap Rate 9%
$402,489
Alternative Uses
Best Use
Retail
$517.5K
$452.8K – $603.7K
NOI $36,224 @ 7.0% cap · market cap 6.09%
Second Best
Flex RnD
$357.3K
$312.6K – $416.8K
NOI $25,008 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$766.8K
$671.0K – $894.6K
NOI $53,676 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23223, VA
51,960
Population
27,141
Households
1.9
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
16.7 sq mi
ZIP Area
3,111
Density / Sq Mi
$56,518
Median Household Income
$39,828
Median Earnings
$1,224
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Industrial in Richmond, VA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - B2-zoned, single-story property offers an open layout for retail or office uses with rear yard access.
Where is this flex space located?
The property is located at 1201 N 25th St Richmond, VA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3319 SF single‑story brick flex building; Open interior with large windows and 2 bay doors; B2 zoning permits retail or office uses up to 5 stories
