Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1408 N Parham Rd Henrico, VA

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial land for rent with redevelopment potential.

    Type:LAND
    Lot size:
    0.90 Acres
    Added:
    Sep 15, 2025
    Days on Market:
    202
    Last Refresh:
    Apr 1 at 11:32 pm

    Property Features for 1408 N Parham Rd

    General Information

    Standard status
    Active
    Lot size
    0.90 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 1408 N Parham Rd Contact us

    We can help!

    Listing Contact
    Connie Jordan Nielsen
    Connie Jordan Nielsen

    Listing agent Connie Jordan Nielsen License #109037

    Listing office Cushman & Wakefield | Thalhimer - Corporate

    Listing date Sep 15, 2025

    Source Moodyscre

    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 Cushman & Wakefield | Thalhimer - Corporate

    Overview

    Redeveloped Commercial Land Opportunity

    This commercial land is part of a larger redevelopment project. The existing mall is being re-envisioned to include exterior restaurants, rooftop bars, sports venues, entertainment, retail, and office spaces. A residential component is also part of the plan, with 320 residential units in Phase I already completed and 314 units in Phase II currently under construction. The redevelopment also incorporates open courtyards and pedestrian plazas.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Henrico
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.6422
    Latitude
    37.5916

    Nearby Similar for Lease

    • Contact for pricing

      Office Space For Lease

      Office space available in a prominent, highly visible area.
      Henrico, VA 23228
      View Details
    • $23/mo

      Class A Office Building

      Class A office building with suites available for lease.
      3957 Westerre Pkwy, Henrico, VA
      View Details
    • Contact for pricing

      Distribution Warehouse Near Airport

      Proposed 187,500 SF distribution warehouse near Richmond Airport.
      6001 S. Laburnum Avenue, Henrico, VA 23231
      View Details
    • $17/mo

      Office/Medical Building Near Hospital

      Office/medical space for lease near Henrico Doctor’s Hospital.
      8921 Three Chopt Rd, Henrico, VA
      View Details
    • $22/mo

      Retail Spaces Near I-64 Interchange

      Retail spaces for lease near White Oak Village and I-64.
      4356 S Laburnum Ave, Henrico, VA
      View Details
    • $24/mo

      West End Medical Office Space

      Renovated medical office space with high patient traffic.
      2200 Pump Rd, Henrico, VA
      View Details
    • $22/mo

      Retail Spaces Near I-64 Interchange

      Retail spaces for lease near White Oak Village and I-64.
      4386 S Laburnum Ave, Henrico, VA
      View Details
    • $18/mo

      Move-in Ready Office Space

      Office space for rent, move-in ready, flexible lease terms.
      2500 E Parham Rd, Henrico, VA
      View Details
    • Contact for pricing

      Healthcare Property Available For Rent

      Healthcare property with 3,929 square feet available for rent.
      7650 East Parham Road, Henrico, VA, 23294
      View Details
    • Contact for pricing

      Two-Story Office Building For Rent

      54,778 SF office building in Richmond's West End.
      1606 Santa Rosa Rd, Henrico, VA
      View Details
    • Contact for pricing

      Retail Space Near White Oak

      Retail space with high visibility and ample parking.
      4306 S Laburnum Ave, Henrico, VA
      View Details
    • Contact for pricing

      West End Office Space Available

      Two-story office building in Forest Office Park for lease.
      1504 Santa Rosa Rd, Henrico, VA
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for rent with redevelopment potential.
    Where is this commercial land located?
    The property is located at 1408 N Parham Rd Henrico, VA.
    What are key features of this property?
    This property features: Mixed‑use development featuring restaurants, bars, sports venues, entertainment, retail, and office space.; Residential component with completed units (320 in Phase I) and more under construction (314 in Phase II).; Re‑envisioned mall space with exterior access.
    (804) 363-6000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Connie Jordan Nielsen
    Connie Jordan Nielsen
    Real Estate License ID: 109037
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!