Fully Leased Investment
6505 Old Warwick Rd Richmond, VA 23225
For Sale
$800,000
Turnkey commercial asset in Richmond's Midlothian Corridor.
Property Size10,550 SF
Price / SF$75.83
Days on Market95
Property Features for 6505 Old Warwick Rd
General Information
Standard status
Active
Size
10,550 SF
Property subtype
Commercial
Building Details
Year Built
1976
Listing Agency:
Upton Realty
(757) 650-0286
Listed By:
Donald Upton
(757) 650-0286
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 27 at 4:11AM
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 Upton Realty
Investment Insights
Based on property information with market context.
Located at 6505 Old Warwick Road in Richmond, VA, this 10,550 sq ft single-story commercial building presents a strategic investment opportunity. The property is fully leased and zoned B-3, offering flexibility for industrial, office, or mixed-use purposes. It features two long-term tenants, each benefiting from dedicated loading docks and independent footprints, making it suitable for warehouse, distribution, or flex office use. A third tenant has recently leased a unit. The property is tractor-trailer accessible with 3 dedicated bays. The location provides prime connectivity, with convenient access to Chippenham Pkwy, I-95, I-64, and Powhite Pkwy. The property benefits from a newer roof and a drive-through parking lot. Situated within a Virginia Enterprise Zone, Opportunity Zone, and HUBZone, the property is eligible for grant funding, tax credits, and other financial incentives.
Key Highlights
- Fully leased with stable rental history, providing immediate income.
- Located within a Virginia Enterprise Zone, Opportunity Zone, and HUBZone, offering potential grant funding and tax credits.
- Zoned B‑3, allowing for flexible industrial, office, or mixed‑use development.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.1k | $9.96 |
| − Vacancy | −$9.5k | −$0.90 |
| EGI | $95.6k | $9.06 |
| − OpEx | −$28.7k | −$2.72 |
| NOI | $66.9k | $6.34 |
10,550 SF · lease $9.96/SF/yr · vacancy 9.06% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,185 @ 7.0% cap · market cap 12.52%
Second Best
Flex RnD
$1.14M
$993.7K – $1.32M
NOI $79,492 @ 7.0% cap · market cap 9.94%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,618 @ 7.0% cap · market cap 21.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Abuelita's — 6400 Midlothian Tpke, Richmond, VA 23225
- ChiConey LLC — 6836 Atmore Dr Ste E, Richmond, VA 23225
Frequently Asked Questions
What type of property is this?
Flex space - Turnkey commercial asset in Richmond's Midlothian Corridor.
Where is this flex space located?
The property is located at 6505 Old Warwick Rd Richmond, VA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Fully leased with stable rental history, providing immediate income.; Located within a Virginia Enterprise Zone, Opportunity Zone, and HUBZone, offering potential grant funding and tax credits.; Zoned B‑3, allowing for flexible industrial, office, or mixed‑use development.
