Broad Street Retail
For Sale
Contact for pricing
8711 West Broad Street, Richmond, VA 23294
Retail property with prominent signage and exposure along West Broad Street.
Property Size18,732 SF
Price / SF$240.23
Days on Market51
Property Features for 8711 West Broad Street
General Information
Standard status
Active
Size
18,732 SF
Property subtype
Retail
Zoning
B-3, B-2
Lease Type
NNN
Investment Type
Sale/Leaseback
Net Operating Income
$420,000
Building Details
Year Built
1973
Tenancy
Single
Listing Agency:
Porter Realty Company, Inc.
Listed By:
Clifford B. Porter · License #VA 0225003009
Source:
Crexi
Added: Aug 28
Changed: Oct 10
Last Checked: Oct 16 at 8:15AM
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.
This retail property contains 18,732 square feet and was built in 1973. The asset is identified as investment property and includes signage supporting its presence along West Broad Street.
The property is located at 8711 West Broad Street in Richmond, Virginia, within Henrico County. Zoning is listed as B-3 and B-2, providing the applicable commercial land-use designations for the site.
The property is located at 8711 West Broad Street in Richmond, Virginia, within Henrico County. Zoning is listed as B-3 and B-2, providing the applicable commercial land-use designations for the site.
Key Highlights
- 18,732‑square‑foot retail property
- Built in 1973
- Located at 8711 West Broad Street, Richmond, VA 23294
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,443
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,088,860
$4.1M
Cap Rate 7%
$2,920,614
$2.9M
Cap Rate 9%
$2,271,589
$2.3M
Market Conditions
NOI Build-Up for 18,732 SF
Gross rent
$319.2K $17.04/SF
− Vacancy
−$27.1K −$1.45/SF
EGI
$292.1K $15.59/SF
− OpEx
−$87.6K −$4.68/SF
NOI
$204.4K $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 Rate 5%
$4,088,860
Cap Rate 7%
$2,920,614
Cap Rate 9%
$2,271,589
Alternative Uses
Best Use
Retail
$2.92M
$2.56M – $3.41M
NOI $204,443 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,940 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property 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 23294, VA
18,538
Population
8,745
Households
2.1
Avg Household Size
34
Median Age
39%
College-Educated
91%
High-School Grad
4.2 sq mi
ZIP Area
4,414
Density / Sq Mi
$66,587
Median Household Income
$46,387
Median Earnings
$1,553
Median Rent
$279,600
Median Home Value
Market
Vacancy Rate% for Retail in Richmond, VA
Frequently Asked Questions
What type of property is this?
Retail space - Retail property with prominent signage and exposure along West Broad Street.
Where is this retail space located?
The property is located at 8711 West Broad Street Richmond, VA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 18,732‑square‑foot retail property; Built in 1973; Located at 8711 West Broad Street, Richmond, VA 23294
