Multi-Tenant Retail
For Sale
Contact for pricing
5118 Richmond Henrico Tpke, Richmond, VA 23227
Retail building offering 40,601 SF, listed for sale with current income and projected performance assumptions.
Property Size40,601 SF
Days on Market124
Property Features for 5118 Richmond Henrico Tpke
General Information
Standard status
Active
Size
40,601 SF
Property subtype
Retail
Additional Details
Cap Rate
9.84%
Building Details
Tenancy
Multi
Listing Agency:
Planet CRE RVA
Listed By:
Rupesh Bharad · License #0225219584
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 21 at 2:42AM
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 Planet CRE RVA
Investment Insights
Based on property information with market context.
This for-sale retail building totals 40,601 SF and is presented with current operating performance and projected returns. Public remarks cite a current 9.84% cap rate based on a current NOI of $295,200. The pro forma assumes an updated anchor tenant at market rate, resulting in a projected new cap rate of 12.76% and projected new NOI of $383,000.
The property is located at 5118 Richmond Henrico Tpke in Richmond, Virginia 23227.
The offering is positioned as a retail building with an anchor-tenant replacement assumption reflected in the underwriting figures provided in the remarks.
The property is located at 5118 Richmond Henrico Tpke in Richmond, Virginia 23227.
The offering is positioned as a retail building with an anchor-tenant replacement assumption reflected in the underwriting figures provided in the remarks.
Key Highlights
- 40,601 SF retail building listed for $3,000,000 ($74/SF)
- Current cap rate: 9.84%; current NOI: $295,200
- Projected cap rate: 12.76% after replacing the anchoring tenant at market rate
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 23227, VA
25,283
Population
13,351
Households
1.9
Avg Household Size
45
Median Age
47%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,199
Density / Sq Mi
$70,537
Median Household Income
$45,315
Median Earnings
$1,306
Median Rent
$329,700
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 - Retail building offering 40,601 SF, listed for sale with current income and projected performance assumptions.
Where is this retail space located?
The property is located at 5118 Richmond Henrico Tpke Richmond, VA.
What are key features of this property?
This property features: 40,601 SF retail building listed for $3,000,000 ($74/SF); Current cap rate: 9.84%; current NOI: $295,200; Projected cap rate: 12.76% after replacing the anchoring tenant at market rate
