Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4600-4680 Commonwealth Ctr Pkwy Midlothian, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease in regional power center.

    Type:RETAIL
    Property size:
    1,600 SF
    Lot size:
    21.84 Acres
    Added:
    Oct 9, 2023
    Days on Market:
    935
    Last Refresh:
    Apr 5 at 9:51 pm

    Property Features for 4600-4680 Commonwealth Ctr Pkwy

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Lot size
    21.84 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 4600-4680 Commonwealth Ctr Pkwy Contact us

    We can help!

    Listing Contact
    Tori Holmes

    Listing agent Tori Holmes

    Listing office SITE Centers - Corporate

    Listing date Oct 9, 2023

    Source Moodyscre

    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 SITE Centers - Corporate

    Overview

    Regional Power Center Retail Space

    This regional power center offers retail spaces for lease, ranging in size from 1,500 to 5,400 square feet. The property is a 165,611 square foot regional power center. It benefits from high visibility and convenient access to Hull Street and Route 288, situated within one of the Richmond MSA's strongest retail submarkets. The location experiences substantial traffic volume, with approximately 76,000 vehicles per day on Hull Street Road, 46,000 vehicles per day on Route 288, and 10,000 vehicles per day on Commonwealth Centre Parkway.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6338
    Latitude
    37.4189

    Nearby Similar for Lease

    • $1,495/Mo

      Office Space in Southport Park

      Well-maintained office space in a convenient Midlothian location.
      583-B SOUTHLAKE Boulevard, Midlothian, VA 23236
      View Details
    • $24 SF/Yr

      Retail Space in High-Traffic Corridor

      Retail suites available in a busy Midlothian shopping center.
      13273 Rittenhouse Drive, Midlothian, VA, 23112
      View Details
    • Contact for pricing

      Midlothian Medical Office Space

      2,200 SF medical office near Bon Secours St. Francis Hospital.
      2937 Fox Chase Lane, Midlothian, VA 23112
      View Details
    • Contact for pricing

      Retail Spaces in Midlothian Village

      Retail spaces available in the heart of Midlothian retail.
      17 Le Gordon Drive, Midlothian, VA 23113
      View Details
    • Contact for pricing

      Midlothian Retail Space Available

      Retail space in a high-income area near Route 288.
      1220 Sycamore Square | Midlothian, VA 23113
      View Details
    • Contact for pricing

      Midlothian Office Space Available

      Prime location with ample parking and flexible lease options.
      13804 Hull Street Road, Midlothian, VA 23112
      View Details
    • $42 SF/Yr

      Upscale Retail Space Available

      Retail space in upscale mixed-use development at Winterfield.
      1681 Ewing Pk Lp, Midlothian, VA
      View Details
    • Contact for pricing

      Medical Office Sublease Opportunity

      Turn-key medical office space in Midlothian's Route 288 Corridor.
      13440 Tredegar Lake Parkway, Midlothian, VA, 23112
      View Details
    • Contact for pricing

      Retail Space at Huguenot & Robious

      Retail space at a prominent intersection near Chesterfield Towne Center.
      11400 West Huguenot Road, Midlothian, VA 23113
      View Details
    • Contact for pricing

      Retail Space in Midlothian Village

      Retail spaces for lease in Midlothian, near Route 288.
      1220-1348 Sycamore Square, Midlothian, VA 23113
      View Details
    • Contact for pricing

      Retail Space Near Wegmans

      Retail spaces available for lease near Wegmans and Sam's Club.
      2013-2077 Walmart Way | Midlothian, VA 23113
      View Details
    • Contact for pricing

      Retail Space in Commonwealth Center

      Retail opportunity in a dominant shopping center with convenient access.
      4701 Commonwealth Centre Pkwy, Midlothian, VA 23112
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space for lease in regional power center.
    Where is this strip mall located?
    The property is located at 4600-4680 Commonwealth Ctr Pkwy Midlothian, VA.
    What are key features of this property?
    This property features: Unbeatable access to Hull Street and Route 288; 165,611 SF Regional Power Center; Located in one of the strongest retail submarkets in the Richmond MSA
    (216) 755-5500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tori Holmes
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!