Renovated Midcentury Office
1506 Staples Mill Rd Richmond, VA 23230
For Sale
Contact for pricing
Fully renovated two-story office building with elevator service and dedicated surface/covered parking.
Property Size7,900 SF
Price / SF$265.82
Days on Market173
Property Features for 1506 Staples Mill Rd
General Information
Standard status
Active
Size
7,900 SF
Property subtype
OFFICE
Listing Agency:
One South Commercial
(434) 981-3146
Listed By:
Ann Schweitzer Riley · License #0225030879
Source:
Moodyscre
Added: Feb 6
Changed: Jul 29
Last Checked: Jul 29 at 5:33AM
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.
A fully renovated midcentury style office building totaling 7,900 SF. The property is configured with a mix of private offices, conference rooms, open work areas, and collaborative space, designed to support a range of professional office functions. The building is elevator-served for accessibility and features high-quality finishes throughout, while maintaining its midcentury character.
Set on a prominent corner parcel in Richmond’s Near West End, the building sits just a few blocks south of Broad St and is immediately adjacent to the Willow Lawn district. The two-story structure is over podium parking and includes its own dedicated surface and covered parking, providing convenient on-site options for occupants and visitors.
Set on a prominent corner parcel in Richmond’s Near West End, the building sits just a few blocks south of Broad St and is immediately adjacent to the Willow Lawn district. The two-story structure is over podium parking and includes its own dedicated surface and covered parking, providing convenient on-site options for occupants and visitors.
Key Highlights
- Fully renovated 7,900 SF, two‑story midcentury office building in Richmond’s Near West End
- Elevator‑served for accessibility
- Configured with a mix of private offices, conference rooms, open work areas, and collaborative space
Financial Insights For Office B
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 | $167.8k | $21.24 |
| − Vacancy | −$26.2k | −$3.31 |
| EGI | $141.6k | $17.93 |
| − OpEx | −$35.4k | −$4.48 |
| NOI | $106.2k | $13.44 |
7,900 SF · lease $21.24/SF/yr · vacancy 15.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,215 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,762 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Fully renovated two-story office building with elevator service and dedicated surface/covered parking.
Where is this office building located?
The property is located at 1506 Staples Mill Rd Richmond, VA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Fully renovated 7,900 SF, two‑story midcentury office building in Richmond’s Near West End; Elevator‑served for accessibility; Configured with a mix of private offices, conference rooms, open work areas, and collaborative space
