Building Details

Buildings 1

Building Size 6,378 SF

Construction brick

Tenancy Multi

Listing Agency: Taylor Long Properties Show Phone

Listed By: Robert Marshall · License #0225192463 Show Phone

Source: Moodyscre

Added: Aug 19 Changed: Oct 26 Last Checked: Oct 26 at 5:44PM

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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

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Investment Insights

Based on property information with market context.

This office property contains three units within a 6,378-square-foot building on 0.585 acres. The structure features a well-maintained brick exterior, a professional lobby, landscaped grounds, and parking serving tenants and visitors. Building infrastructure supports contemporary office technology needs.

The property is positioned off Rte. 1, which carries 25,000 VPD, with convenient access to I-95 and its reported 111,000 VPD. The combination of multiple office units, established exterior improvements, and accessible regional connections creates a functional setting for office occupancy.

Key Highlights

• Three‑unit office building totaling 6,378 SF
• Situated on 0.585 AC
• Brick exterior with professional lobby

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,752

Cap Rate

6.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,715,040 $1.7M

Cap Rate 7%

$1,225,029 $1.2M

Cap Rate 9%

$952,800 $952.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,378 SF

Gross rent

$135.5K $21.24/SF

− Vacancy

−$21.1K −$3.31/SF

EGI

$114.3K $17.93/SF

− OpEx

−$28.6K −$4.48/SF

NOI

$85.8K $13.44/SF

Area

Colonial Heights County, 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%

$1,715,040

Cap Rate 7%

$1,225,029

Cap Rate 9%

$952,800

Alternative Uses

Best Use

Office B

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,752 @ 7.0% cap · market cap 6.35%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.47M

$1.29M – $1.72M (±1% cap)

NOI $103,147 @ 7.0% cap · market cap 7.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

CareSouth Health System, ... Home Health Care Service Colonial Kidneycare Specialists, ... Medical Clinic Bankuru Satish K ... Physician Sood Vineeta MD Physician Peaceful Sage Massage ... Alternative Medicine Practice

Suggested Use

Top Pick Law Firm Real Estate Agency Big Box & Wholesale Store Auto Parts Store Building Supply Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

386

Businesses Nearby

Explore this area Business Placement

Demographics for 23834, VA

26,635

Population

11,493

Households

2.3

Avg Household Size

40

Median Age

29%

College-Educated

93%

High-School Grad

23.8 sq mi

ZIP Area

1,119

Density / Sq Mi

$82,314

Median Household Income

$45,000

Median Earnings

$1,214

Median Rent

$236,100

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Three office units share a maintained brick building with a professional lobby and landscaped grounds.

Where is this office building located?

The property is located at 3601 Boulevard Colonial Heights, VA.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Three‑unit office building totaling 6,378 SF; Situated on 0.585 AC; Brick exterior with professional lobby