Modern Office/Retail Space
For Sale
Contact for pricing
221 Stonebridge Plaza Avenue, Richmond, VA 23225
7,200 SF office/retail space in Stonebridge Shopping Center.
Property Size7,200 SF
Lot Size0.26 Acres
Price / SF$277.64
Days on Market215
Property Features for 221 Stonebridge Plaza Avenue
General Information
Standard status
Active
Size
7,200 SF
Class
B
Lot size
0.26 Acres
Property subtype
Office, Retail
Zoning
C4
Building Details
Year Built
2018
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Porter Realty Company, Inc.
Listed By:
Wilson M. Flohr · License #VA 0225201087
Source:
Crexi
Added: Mar 5
Changed: Sep 13
Last Checked: Oct 5 at 4:28PM
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 Porter Realty Company, Inc.
Investment Insights
Based on property information with market context.
This 7,200 square foot building, constructed in 2018, is located within the Stonebridge Shopping Center, anchored by Kroger. Zoned C-4, the stand-alone building offers immediate access to Chippenham Parkway, Powhite Parkway, and Downtown Richmond. Situated on 0.26 acres, the property is suitable for professional office use and has potential for medical office adaptation. The property is a confidential listing and may have potential for a seller lease-back.
Key Highlights
- Immediate access to Chippenham Parkway, Powhite Parkway, and Downtown Richmond
- Stand alone building in Stonebridge Shopping Center
- Kroger anchor tenant in shopping center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,803
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,936,060
$1.9M
Cap Rate 7%
$1,382,900
$1.4M
Cap Rate 9%
$1,075,589
$1.1M
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$152.9K $21.24/SF
− Vacancy
−$23.9K −$3.31/SF
EGI
$129.1K $17.93/SF
− OpEx
−$32.3K −$4.48/SF
NOI
$96.8K $13.44/SF
Area
Richmond, VA
Vacancy
15.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,936,060
Cap Rate 7%
$1,382,900
Cap Rate 9%
$1,075,589
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,803 @ 7.0% cap · market cap 4.84%
Second Best
Retail
$1.12M
$982.3K – $1.31M
NOI $78,582 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,441 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Richmond, VA
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Frequently Asked Questions
What type of property is this?
Office units - 7,200 SF office/retail space in Stonebridge Shopping Center.
Where is this office units located?
The property is located at 221 Stonebridge Plaza Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Immediate access to Chippenham Parkway, Powhite Parkway, and Downtown Richmond; Stand alone building in Stonebridge Shopping Center; Kroger anchor tenant in shopping center
