Multi-Building Flex
8500-8506 Glazebrook Avenue, Richmond, VA 23228
For Sale
Contact for pricing
Four flex buildings are fully leased to a diverse tenant mix in Henrico County.
Property Size29,333 SF
Lot Size1.69 Acres
Price / SF$132.96
Days on Market35
Property Features for 8500-8506 Glazebrook Avenue
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Highway Access
Tenant in Place
Property Use
Building Details
Buildings
Tenancy
Listing Agency:
Porter Realty Company, Inc.
Listed By:
Wilson M. Flohr · License #VA 0225201087
(804) 521-1458
Source:
Crexi
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 2:26PM
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 Porter Realty Company, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises four flex buildings totaling 29,333 square feet on approximately 1.69 acres. All buildings are fully leased, with a diverse tenant roster across the site.
Located in Henrico County, the property offers access to I-95, I-64 and I-295.
Located in Henrico County, the property offers access to I-95, I-64 and I-295.
Key Highlights
- 29,333 square feet across four buildings
- Approximately 1.69‑acre site
- Fully leased with a diverse tenant mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$221,018
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,420,360
$4.4M
Cap Rate 7%
$3,157,400
$3.2M
Cap Rate 9%
$2,455,756
$2.5M
Market Conditions
NOI Build-Up for 29,333 SF
Gross rent
$369.6K $12.60/SF
− Vacancy
−$29.6K −$1.01/SF
EGI
$340.0K $11.59/SF
− OpEx
−$119.0K −$4.06/SF
NOI
$221.0K $7.53/SF
Area
Richmond, VA
Vacancy
8.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,420,360
Cap Rate 7%
$3,157,400
Cap Rate 9%
$2,455,756
Alternative Uses
Best Use
Flex RnD
$3.16M
$2.76M – $3.68M
NOI $221,018 @ 7.0% cap · market cap 5.67%
Second Best
Industrial
$2.66M
$2.32M – $3.10M
NOI $185,981 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$6.78M
$5.93M – $7.91M
NOI $474,384 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23228, VA
36,384
Population
16,724
Households
2.2
Avg Household Size
37
Median Age
31%
College-Educated
89%
High-School Grad
11.1 sq mi
ZIP Area
3,278
Density / Sq Mi
$65,650
Median Household Income
$43,883
Median Earnings
$1,410
Median Rent
$267,300
Median Home Value
Market
Vacancy Rate% for Industrial in Richmond, VA
Similar Off Market Nearby
- WHISK West End Catering & Special Order Pickup Center (No Retail Sales) — 8308 Staples Mill Rd, Henrico, VA 23228
- Trolley Eats — 8501 Sanford Dr, Richmond, VA 23228
- Garnish — 8574 Sanford Dr, Richmond, VA 23228
- Catering By Jill Inc — 8574 Sanford Dr, Richmond, VA 23228
Frequently Asked Questions
What type of property is this?
Flex space - Four flex buildings are fully leased to a diverse tenant mix in Henrico County.
Where is this flex space located?
The property is located at 8500-8506 Glazebrook Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 29,333 square feet across four buildings; Approximately 1.69‑acre site; Fully leased with a diverse tenant mix
