Established Barbershop/Salon on Midlothian
For Sale
$160,000
2613 Midlothian Tpke, Richmond, VA 23224
Turn-key barbershop/salon with potential for owner-operator or investor.
Property Size581 SF
Days on Market137
Property Features for 2613 Midlothian Tpke
General Information
Standard status
Active
Size
581 SF
Property subtype
Commercial
Building Details
Building Size
581 SF
Year Built
1930
Stories
1
Listing Agency:
United Real Estate Richmond
Listed By:
Brent Christian · License #0225157348
(804) 479-0135
Source:
Elliman
Added: Apr 24
Changed: Aug 31
Last Checked: Sep 7 at 7:41AM
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 United Real Estate Richmond
Investment Insights
Based on property information with market context.
This is a fully operating barbershop and salon conveniently located along Midlothian Turnpike. The stylish and well-appointed shop floor features three barber stations, three hair stylist stations, two wash sinks, and two hair dryers. The building also includes a small office and a restroom. This is an excellent opportunity for an owner-operator to hit the ground running with an established turn-key business. Alternatively, an investor could purchase the business and rent out the six barber and stylist chairs. The seller is willing to remove all barber, salon, audio, and television equipment and sell the building and land only.
Key Highlights
- Turn‑key, fully operating Barbershop/Salon business opportunity.
- Prime location on Midlothian Turnpike.
- Equipped with three Barber stations, three Hair Stylist stations, two wash sinks, and two hair dryers.
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
$6,341
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
3.96%
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%
$126,820
$126.8K
Cap Rate 7%
$90,586
$90.6K
Cap Rate 9%
$70,456
$70.5K
Market Conditions
NOI Build-Up for 581 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
$9.9K $17.04/SF
− Vacancy
−$842 −$1.45/SF
EGI
$9.1K $15.59/SF
− OpEx
−$2.7K −$4.68/SF
NOI
$6.3K $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%
$126,820
Cap Rate 7%
$90,586
Cap Rate 9%
$70,456
Alternative Uses
Best Use
Retail
$90.6K
$79.3K – $105.7K
NOI $6,341 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$134.2K
$117.5K – $156.6K
NOI $9,396 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
Median Home Value
Market
Vacancy Rate% for Retail in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turn-key barbershop/salon with potential for owner-operator or investor.
Where is this retail space located?
The property is located at 2613 Midlothian Tpke Richmond, VA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Turn‑key, fully operating Barbershop/Salon business opportunity.; Prime location on Midlothian Turnpike.; Equipped with three Barber stations, three Hair Stylist stations, two wash sinks, and two hair dryers.
