I-95 Visible Industrial
3405 Commerce Rd Richmond, VA 23234
For Sale
$5,100,000
Single-tenant, long-term lease investment opportunity in Richmond, Virginia.
Property Size41,396 SF
Lot Size3.46 Acres
Price / SF$123.20
Days on Market95
Property Features for 3405 Commerce Rd
General Information
Standard status
Active
Size
41,396 SF
Lot size
3.46 Acres
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
One South Commercial
(804) 539-3017
Listed By:
Thomas Rosman · License #0226037201
(804) 539-3017
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 27 at 1:10PM
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 One South Commercial
Investment Insights
Based on property information with market context.
This single-tenant industrial building in Richmond, Virginia, presents a long-term lease investment opportunity. The property is currently leased to Git The Trucking Commercial Tires, a commercial tire installation and road service company. The one-story building, previously used for printing and direct mail, offers approximately 41,396 square feet of conditioned space. It features three loading docks, one drive-in door, and two levelers. Electrical service is 3-phase, 240V, 3000-amp. The 3.46-acre parcel includes approximately 177 parking spaces. The property is highly visible from I-95. Located in a strong industrial market, the property benefits from its location at the intersection of I-95 and I-64, making it a suitable distribution location for the East Coast. The lease structure is Triple Net, with the tenant responsible for real estate taxes, building insurance, utilities, and maintenance.
Key Highlights
- Strong cash flow investment property with market annual increases.
- Long‑term lease in place with Git The Trucking Commercial Tires.
- Highly visible location with I‑95 frontage.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $486.8k | $11.76 |
| − Vacancy | −$24.3k | −$0.59 |
| EGI | $462.5k | $11.17 |
| − OpEx | −$69.4k | −$1.68 |
| NOI | $393.1k | $9.50 |
41,396 SF · lease $11.76/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$5.62M
$4.91M – $6.55M
NOI $393,105 @ 7.0% cap · market cap 7.71%
Second Best
Industrial
$3.75M
$3.28M – $4.37M
NOI $262,465 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$9.56M
$8.37M – $11.16M
NOI $669,471 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Warehouse - Single-tenant, long-term lease investment opportunity in Richmond, Virginia.
Where is this warehouse located?
The property is located at 3405 Commerce Rd Richmond, VA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Strong cash flow investment property with market annual increases.; Long‑term lease in place with Git The Trucking Commercial Tires.; Highly visible location with I‑95 frontage.
