Richmond Warehouse and Office
For Sale
Contact for pricing
1901 Westwood Ave, Richmond, VA
58,000 SF Richmond property with office and warehouse space.
Property Size58,000 SF
Lot Size2.71 Acres
Price / SF$94.83
Days on Market542
Property Features for 1901 Westwood Ave
General Information
Standard status
Active
Size
58,000 SF
Lot size
2.71 Acres
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
Rsdl
Listing Agency:
One South Commercial
(804) 353-0009
Listed By:
Chris Corrada · License #0225066800
(804) 833-7909
Source:
Moodyscre
Added: May 3, 2025
Changed: Oct 25
Last Checked: Oct 26 at 5:52PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 58,000 square foot property in Richmond, Virginia, features 13,500 square feet of office space and 44,500 square feet of warehouse space. Located in the Scott’s Addition 2.0 area, the property is suitable for multi-family, mixed-use, or industrial purposes. Opportunity Zone (OZ) and Enterprise Zone (EZ) incentives may be available.
Key Highlights
- OZ & EZ incentives available
- Substantial 44,500 SF warehouse space
- Includes a 13,500 SF office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$367,740
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,354,800
$7.4M
Cap Rate 7%
$5,253,429
$5.3M
Cap Rate 9%
$4,086,000
$4.1M
Market Conditions
NOI Build-Up for 58,000 SF
Gross rent
$577.7K $9.96/SF
− Vacancy
−$52.3K −$0.90/SF
EGI
$525.3K $9.06/SF
− OpEx
−$157.6K −$2.72/SF
NOI
$367.7K $6.34/SF
Area
Richmond, VA
Vacancy
9.06%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,354,800
Cap Rate 7%
$5,253,429
Cap Rate 9%
$4,086,000
Alternative Uses
Best Use
Warehouse
$7.87M
$6.88M – $9.18M
NOI $550,780 @ 7.0% cap · market cap 10.01%
Second Best
Industrial
$5.25M
$4.60M – $6.13M
NOI $367,740 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$13.40M
$11.72M – $15.63M
NOI $937,996 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Warehouse - 58,000 SF Richmond property with office and warehouse space.
Where is this warehouse located?
The property is located at 1901 Westwood Ave Richmond, VA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: OZ & EZ incentives available; Substantial 44,500 SF warehouse space; Includes a 13,500 SF office area
