Auto Shop Building with Oil Change
For Sale
$1,450,000
6311 Iron Bridge Place, North Chesterfield, VA 23234
Fully occupied automotive property with a nationally recognized oil change operator and CC zoning.
Property Size4,477 SF
Price / SF$323.88
Days on Market28
Property Features for 6311 Iron Bridge Place
General Information
Standard status
Active
Size
4,477 SF
Property subtype
General Commercial
Zoning
CC
Occupancy
100%
Amenities
3
Building Details
Year Built
2000
Buildings
1
Tenancy
Single
Listing Agency:
CR8TIVE Realty LLC
(804) 269-0255
Listed By:
Olatokunbo Oni · License #0225072567
(804) 405-6094
Source:
Xome
Added: Aug 12
Changed: Sep 8
Last Checked: Sep 8 at 4:10AM
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 CR8TIVE Realty LLC
Investment Insights
Based on property information with market context.
This 4,477-square-foot automotive building was constructed in 2000 and is configured for an oil change operation. The property is fully occupied by Strickland Brothers Oil Change, providing an established tenant presence within the building.
Located at 6311 Iron Bridge Place in Richmond, Virginia, the property carries CC zoning and is positioned for retail or street-retail use. Its automotive-oriented configuration and existing occupancy make it a focused commercial property for buyers seeking an operating auto-service asset.
Located at 6311 Iron Bridge Place in Richmond, Virginia, the property carries CC zoning and is positioned for retail or street-retail use. Its automotive-oriented configuration and existing occupancy make it a focused commercial property for buyers seeking an operating auto-service asset.
Key Highlights
- 4,477‑square‑foot automotive building constructed in 2000
- Fully occupied by Strickland Brothers Oil Change
- CC zoning
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
$48,863
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
3.37%
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%
$977,260
$977.3K
Cap Rate 7%
$698,043
$698.0K
Cap Rate 9%
$542,922
$542.9K
Market Conditions
NOI Build-Up for 4,477 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
$76.3K $17.04/SF
− Vacancy
−$6.5K −$1.45/SF
EGI
$69.8K $15.59/SF
− OpEx
−$20.9K −$4.68/SF
NOI
$48.9K $10.91/SF
Area
Richmond, VA
Vacancy
8.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$977,260
Cap Rate 7%
$698,043
Cap Rate 9%
$542,922
Alternative Uses
Best Use
Retail
$698.0K
$610.8K – $814.4K
NOI $48,863 @ 7.0% cap · market cap 3.37%
Second Best
Industrial
$405.5K
$354.8K – $473.1K
NOI $28,386 @ 7.0% cap · market cap 1.96%
Theoretical Best
Office A
$1.03M
$905.1K – $1.21M
NOI $72,404 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
64k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 43%
Dining 7%
Food Lion Grocery Store
Groceries
27,569 visits/mo
0.1 miles
BP
Shops & Services
9,630 visits/mo
0.3 miles
Dollar General
Shops & Services
7,276 visits/mo
0.1 miles
7-Eleven
Shops & Services
4,736 visits/mo
0.3 miles
Waffle House
Dining
3,746 visits/mo
0.3 miles
Demographics for 23234, VA
46,610
Population
18,167
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
80%
High-School Grad
19.1 sq mi
ZIP Area
2,440
Density / Sq Mi
$63,630
Median Household Income
$37,661
Median Earnings
$1,321
Median Rent
$237,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Good Year — 6445 Iron Bridge Rd, Richmond, VA 23234
- Seredni Tire & Auto Center — 6445 Iron Bridge Rd, Chesterfield, VA 23234
- Strickland Brothers 10 Minute Oil Change — 6312 Iron Bridge Pl, North Chesterfield, VA 23234
- The Virginia Lube Center Inc — 6311 Iron Bridge Rd, Richmond, VA 23234
- Meadowbrook Tire and Auto — 6101 Iron Bridge Rd, Richmond, VA 23234
Frequently Asked Questions
What type of property is this?
Auto shop - Fully occupied automotive property with a nationally recognized oil change operator and CC zoning.
Where is this auto shop located?
The property is located at 6311 Iron Bridge Place North Chesterfield, VA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 4,477‑square‑foot automotive building constructed in 2000; Fully occupied by Strickland Brothers Oil Change; CC zoning
