Freestanding Bank Building For
For Sale
$1,600,000
4180 Dominion Boulevard, Glen Allen, VA 23060
Freestanding bank building in Richmond's premier retail submarket.
Property Size3,264 SF
Lot Size1.09 Acres
Price / SF$490.20
Days on Market151
Property Features for 4180 Dominion Boulevard
General Information
Standard status
Active
Size
3,264 SF
Lot size
1.09 Acres
Property subtype
Retail
Listing Agency:
(804) 201-2026
Listed By:
Pam Strieffler
(804) 201-2026
Source:
Cbre
Added: Mar 25
Changed: Aug 13
Last Checked: Aug 22 at 12:41PM
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 Pam Strieffler
Investment Insights
Based on property information with market context.
The property at 4180 Dominion Boulevard is a freestanding bank building constructed in 1990. The building has 3,264 square feet and is situated on a 1.09-acre lot. Classified as a Class C property, it is zoned B-3 in Henrico County. The Fulton Bank location is positioned within a suburban neighborhood center, featuring over 200 feet of frontage on both Dominion Boulevard and West Broad Street. There are 29 dedicated surface parking spaces available, along with a dedicated turn lane to facilitate site access. The property is located in Richmond’s premier retail submarket, Innsbrook, providing a maximum daytime population within the Richmond MSA. Its proximity to major highways and interstates offers convenient transportation links. The flexible zoning allows for various redevelopment options. The property can be assembled with adjacent properties.
Key Highlights
- Flexible B‑3 zoning allows for redevelopment options.
- Located in Richmond’s premier retail submarket.
- High visibility with over 200 feet of frontage on both Dominion Boulevard and West Broad Street.
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
$59,602
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
3.73%
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%
$1,192,040
$1.2M
Cap Rate 7%
$851,457
$851.5K
Cap Rate 9%
$662,244
$662.2K
Market Conditions
NOI Build-Up for 3,264 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
$85.0K $26.04/SF
− Vacancy
−$5.5K −$1.69/SF
EGI
$79.5K $24.35/SF
− OpEx
−$19.9K −$6.09/SF
NOI
$59.6K $18.26/SF
Area
Henrico County, VA
Vacancy
6.50%
Lease Rate
$26.04 /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%
$1,192,040
Cap Rate 7%
$851,457
Cap Rate 9%
$662,244
Alternative Uses
Best Use
Specialty Retail
$851.5K
$745.0K – $993.4K
NOI $59,602 @ 7.0% cap · market cap 3.73%
Second Best
Retail
$558.1K
$488.4K – $651.2K
NOI $39,070 @ 7.0% cap · market cap 2.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 23060, VA
38,288
Population
14,678
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
2,519
Density / Sq Mi
$106,685
Median Household Income
$57,492
Median Earnings
$1,696
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Freestanding bank building in Richmond's premier retail submarket.
Where is this bank located?
The property is located at 4180 Dominion Boulevard Glen Allen, VA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Flexible B‑3 zoning allows for redevelopment options.; Located in Richmond’s premier retail submarket.; High visibility with over 200 feet of frontage on both Dominion Boulevard and West Broad Street.
