Two Office Buildings For
For Sale
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2901-2949 Fox Chase Lane, Midlothian, VA 23112
Two one-story office buildings with high visibility and easy access.
Property Size6,061 SF
Price / SF$329.81
Days on Market146
Property Features for 2901-2949 Fox Chase Lane
General Information
Standard status
Active
Size
6,061 SF
Class
B
Property subtype
Office
Building Details
Year Built
2006
Buildings
2
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Taylor Long Properties Commercial Real Estate
(804) 864-9788
Listed By:
Tyler Schleinkofer · License #VA 0225262067
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 11 at 6:25PM
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 Taylor Long Properties Commercial Real Estate
Investment Insights
Based on property information with market context.
Two one-story brick buildings are available for purchase in a rapidly developing area near Hull Street/Brandermill. The properties offer direct frontage on Genito Road, providing high visibility. Convenient access is available from 288/Powhite Parkway. The location is approximately one mile from Bon Secours St. Francis Hospital. The property size totals 6061 square feet, suitable for various commercial uses.
Key Highlights
- High visibility location with direct frontage on Genito Road.
- Easy access to 288/Powhite Parkway.
- Located in a fast‑growing market near Hull Street/Brandermill.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,760
$1.3M
Cap Rate 7%
$950,543
$950.5K
Cap Rate 9%
$739,311
$739.3K
Market Conditions
NOI Build-Up for 6,061 SF
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.
Gross rent
$103.3K $17.04/SF
− Vacancy
−$14.6K −$2.40/SF
EGI
$88.7K $14.64/SF
− OpEx
−$22.2K −$3.66/SF
NOI
$66.5K $10.98/SF
Area
Chesterfield County, VA
Vacancy
14.10%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,760
Cap Rate 7%
$950,543
Cap Rate 9%
$739,311
Alternative Uses
Best Use
Office B
$950.5K
$831.7K – $1.11M
NOI $66,538 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$12.14M
$10.63M – $14.17M
NOI $850,048 @ 7.0% cap · market cap 42.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 23112, VA
54,592
Population
21,511
Households
2.5
Avg Household Size
39
Median Age
50%
College-Educated
97%
High-School Grad
32.1 sq mi
ZIP Area
1,701
Density / Sq Mi
$117,716
Median Household Income
$57,772
Median Earnings
$1,706
Median Rent
$366,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two one-story office buildings with high visibility and easy access.
Where is this office building located?
The property is located at 2901-2949 Fox Chase Lane Midlothian, 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: High visibility location with direct frontage on Genito Road.; Easy access to 288/Powhite Parkway.; Located in a fast‑growing market near Hull Street/Brandermill.
