I-95 Visible Industrial
For Sale
$5,100,000
3405 Commerce Rd, Richmond, VA 23234
Single-tenant, long-term lease investment opportunity in Richmond, Virginia.
Property Size42,628 SF
Lot Size3.46 Acres
Price / SF$123.20
Days on Market185
Property Features for 3405 Commerce Rd
General Information
Standard status
Active
Size
42,628 SF
Lot size
3.46 Acres
Property subtype
Commercial
Site & Location
Neighborhood
Cria
Building Details
Building Size
42,628 SF
Year Built
1900
Stories
1
Listing Agency:
One South Commercial LLC
Listed By:
Thomas Rosman · License #0225268571
(804) 539-3017
Source:
Elliman
Added: Apr 24
Changed: Oct 15
Last Checked: Oct 24 at 5:37PM
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 LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-tenant industrial building in Richmond, Virginia, presents a long-term lease investment opportunity. The property is currently leased to Git The Trucking Commercial Tires, a commercial tire installation and road service company. The one-story building, previously used for printing and direct mail, offers approximately 41,396 square feet of conditioned space. It features three loading docks, one drive-in door, and two levelers. Electrical service is 3-phase, 240V, 3000-amp. The 3.46-acre parcel includes approximately 177 parking spaces. The property is highly visible from I-95. Located in a strong industrial market, the property benefits from its location at the intersection of I-95 and I-64, making it a suitable distribution location for the East Coast. The lease structure is Triple Net, with the tenant responsible for real estate taxes, building insurance, utilities, and maintenance.
Key Highlights
- Strong cash flow investment property with market annual increases.
- Long‑term lease in place with Git The Trucking Commercial Tires.
- Highly visible location with I‑95 frontage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$393,105
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,862,100
$7.9M
Cap Rate 7%
$5,615,786
$5.6M
Cap Rate 9%
$4,367,833
$4.4M
Market Conditions
NOI Build-Up for 41,396 SF
Gross rent
$486.8K $11.76/SF
− Vacancy
−$24.3K −$0.59/SF
EGI
$462.5K $11.17/SF
− OpEx
−$69.4K −$1.68/SF
NOI
$393.1K $9.50/SF
Area
Richmond, VA
Vacancy
5.00%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,862,100
Cap Rate 7%
$5,615,786
Cap Rate 9%
$4,367,833
Alternative Uses
Best Use
Warehouse
$5.62M
$4.91M – $6.55M
NOI $393,105 @ 7.0% cap · market cap 7.71%
Second Best
Industrial
$3.75M
$3.28M – $4.37M
NOI $262,465 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$9.56M
$8.37M – $11.16M
NOI $669,471 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23234, VA
46,610
Population
18,167
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
80%
High-School Grad
19.1 sq mi
ZIP Area
2,440
Density / Sq Mi
$63,630
Median Household Income
$37,661
Median Earnings
$1,321
Median Rent
$237,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Richmond, VA
Frequently Asked Questions
What type of property is this?
Warehouse - Single-tenant, long-term lease investment opportunity in Richmond, Virginia.
Where is this warehouse located?
The property is located at 3405 Commerce Rd Richmond, VA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Strong cash flow investment property with market annual increases.; Long‑term lease in place with Git The Trucking Commercial Tires.; Highly visible location with I‑95 frontage.
