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

    50 Otterdale Woods Rd Midlothian, VA

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

    2.1+/- acre corner parcel in a high-growth commercial area.

    Type:LAND
    Lot size:
    2.10 Acres
    Added:
    May 24, 2024
    Days on Market:
    707
    Last Refresh:
    Apr 5 at 11:10 pm

    Property Features for 50 Otterdale Woods Rd

    General Information

    Standard status
    Active
    Lot size
    2.10 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Nathan Jones
    Nathan Jones

    Listing agent Nathan Jones License #0225043719

    Listing office Dominion Commercial - Corporate

    Listing date May 24, 2024

    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 Dominion Commercial - Corporate

    Overview

    Commercial Land in High-Growth Area

    This 2.1+/- acre parcel is zoned C-2 Neighborhood Commercial. It is a corner parcel located at a signalized intersection in a high-growth area along Midlothian Turnpike. The location features the highest income per capita in the Richmond MSA and is situated just off Route 288 near Westchester Commons. Traffic counts are approximately 44,000 vehicles per day on Midlothian Turnpike and 48,000 vehicles per day on Route 288. Sewer access is located across Midlothian Turnpike and requires extension.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -77.6781
    Latitude
    37.5076

    Nearby Similar for Sale

    • $329,950

      Midlothian Land Parcel For Sale

      2.61 acre commercial land parcel in Nuttree Executive Center.
      2800 Fox Chase Ln, Midlothian, VA 23112
      View Details
    • $2,500,000

      Prime Redevelopment Land in Midlothian

      3.38-acre assemblage for mixed-use development in Chesterfield County.
      13844 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • $224,950

      Residential Land in Founders Bridge

      Private, wooded 0.93 acre lot in Founders Bridge.
      16151 Founders Bridge Terrace, Midlothian, VA 23113
      View Details
    • $610,000
      2,544 SF

      Office Unit in Harbour Park

      Office unit for sale with 2544 square feet.
      5925 Harbour Park Dr, Midlothian, VA 23112
      View Details
    • Contact for pricing
      3,978 SF

      Medical Office Building in Midlothian

      3,978 SF medical office building for sale in Midlothian.
      14404 Sommerville Ct, Midlothian, VA 23113
      View Details
    • $383,000
      1,224 SF

      Office Building in Chesterfield County

      Office building for sale in Midlothian, Chesterfield County.
      Midlothian, VA 23113
      View Details
    • $495,000

      Koger Center Blvd Pad Site

      Pad site with high visibility on Koger Center Blvd.
      1210 Koger Center Blvd., Midlothian, VA 23112
      View Details
    • $495,000

      Koger Center Blvd Pad Site

      Pad site with high visibility on Koger Center Blvd.
      1210 Koger Center Blvd., Midlothian, VA 23112
      View Details
    • $395,000
      1,926 SF

      Midlothian Two-Level Townhome

      Comfortable two-level townhome in the heart of Midlothian.
      613 Abbey Village Circle,, VA 23114
      View Details
    • Contact for pricing

      Commercial Development Site on Charter

      5-acre commercial development site at a signalized intersection.
      13530 Tredegar Lake Pkwy, Midlothian, VA 23112
      View Details
    • $389,990
      1,886 SF

      New Construction Townhome with Amenities

      Modern townhome near medical center, shopping, and entertainment.
      1019 Arborway Lane, Midlothian, VA 23114
      View Details
    • Contact for pricing

      Prime Land on Midlothian Turnpike

      4 acres of land with frontage on Midlothian Turnpike.
      16901 Midlothian Turnpike, Midlothian, VA 23113
      View Details

    FAQs

    What type of property is this?
    Land - 2.1+/- acre corner parcel in a high-growth commercial area.
    Where is this land located?
    The property is located at 50 Otterdale Woods Rd Midlothian, VA.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: High traffic counts: Midlothian Turnpike (44,000 VPD) and Route 288 (48,000 VPD); Located in high growth area along Midlothian Turnpike; Highest income per capita in Richmond MSA
    (855) 530-2300 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nathan Jones
    Nathan Jones
    Real Estate License ID: 0225043719
    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!