Freestanding Building in Willow
For Sale
$2,400,000
4711 West Broad Street, Richmond, VA 23230
6,000 SF building with commercial kitchens in growing district.
Property Size6,000 SF
Price / SF$400
Days on Market196
Property Features for 4711 West Broad Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Listing Agency:
CBRE | Richmond
Listed By:
Matt Hamilton
(804) 401-4005
Source:
Cbre
Added: Mar 25
Changed: Oct 6
Last Checked: Oct 5 at 3:54PM
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 CBRE | Richmond
Investment Insights
Based on property information with market context.
This 6,000 SF freestanding building is located in the Willow Lawn submarket, a rapidly growing commercial district. The property features a full-service commercial cooking facility with 16 private kitchens. The building infrastructure was fully renovated in 2022. The property has TOD-1 zoning and benefits from direct access to public transportation. There are 31 parking spaces available. The property qualifies for tax incentives due to its enterprise zone designation and provides easy access to major interstates.
Key Highlights
- Full‑service commercial cooking facility with 16 private kitchens
- Highly visible, freestanding building on West Broad Street
- Building infrastructure fully renovated in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,841
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,820
$1.6M
Cap Rate 7%
$1,112,014
$1.1M
Cap Rate 9%
$864,900
$864.9K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$111.6K $18.60/SF
− Vacancy
−$7.8K −$1.30/SF
EGI
$103.8K $17.30/SF
− OpEx
−$25.9K −$4.32/SF
NOI
$77.8K $12.97/SF
Area
Richmond, VA
Vacancy
7.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,820
Cap Rate 7%
$1,112,014
Cap Rate 9%
$864,900
Alternative Uses
Best Use
Specialty Retail
$1.11M
$973.0K – $1.30M
NOI $77,841 @ 7.0% cap · market cap 3.24%
Second Best
Industrial
$543.5K
$475.5K – $634.0K
NOI $38,042 @ 7.0% cap · market cap 1.59%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,034 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Chick-fil-A
Dining
47,494 visits/mo
0.0 miles
Demographics for 23230, VA
8,263
Population
5,066
Households
1.6
Avg Household Size
35
Median Age
52%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
1,922
Density / Sq Mi
$71,189
Median Household Income
$55,121
Median Earnings
$1,608
Median Rent
$343,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Richmond, VA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - 6,000 SF building with commercial kitchens in growing district.
Where is this commercial kitchen located?
The property is located at 4711 West Broad Street Richmond, VA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Full‑service commercial cooking facility with **16 private kitchens**; Highly visible, freestanding building on West Broad Street; Building infrastructure fully renovated in 2022
