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

    4901 Fitzhugh Ave Richmond, VA 23230

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Richmond Office Suites - 3,690 - 9,595 SF

    Lot size:
    27,005 SF

    Property Features for 4901 Fitzhugh Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    27,005 SF
    Total Rate
    47258.75

    Building Details

    Year Built
    1976
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 4901 Fitzhugh Ave, Richmond, VA 23230 Contact us
    Unit 1st Floor

    $21 /Mo

    Size
    3,690 SF
    Contact us
    Unit 3rd Floor

    $21 /Mo

    Size
    9,595 SF
    Contact us

    We can help!

    Listing Contact
    Ken Campbell
    Ken Campbell

    Listing Agency: One South Commercial Listing Agent: Ken Campbell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional office property, located at 4901 Fitzhugh Ave in Richmond, Virginia (zip code 23230), offers a variety of flexible spaces ideal for businesses seeking a prime location. The single, three-story building, constructed in 1976, boasts a total of 27,005 square feet, with 13,285 square feet currently available for lease. The property is zoned TOD-1 and features convenient amenities including elevators. Multiple tenancy options are available, catering to diverse business needs. Two immediately available suites offer 3,690 square feet on the first floor and 9,595 square feet on the third floor. This versatile space is suitable for traditional office setups, creative work environments, or executive offices, offering a blend of functionality and style. The building's location in the heart of Willow Lawn provides excellent accessibility and visibility. The property's APN is W0190062002. This is a unique opportunity to secure high-quality office space in a desirable Richmond location. Contact us today to schedule a viewing and explore the possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Diamonds In The Rough Youth ... Child Welfare Organization River City Driving ... Training Center Symbol Mattress Inc Furniture & Home Goods My UOTS Charitable Organization Our Legacy Ventures ... Home Health Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4957379
    Latitude
    37.5796284

    Nearby Similar for Lease

    • $2,031 /Mo

      Renovated Retail/Office Space Available

      Renovated first-floor suite with high traffic exposure in Richmond.
      1208 Hull Street Rd, Richmond, VA 23224
      View Details
    • $1,700 /Mo

      Richmond Office Space For Rent

      Upstairs office space near Chesterfield Towne Center with private entrance.
      1241 Mall Dr, Richmond, VA 23235
      View Details
    • $390 /Mo

      Office Space For Lease

      Office space available for lease in Chesterfield, Virginia.
      1221 Mall Dr, Richmond, VA 23235
      View Details
    • $5,800 /Mo
      16,988 SF

      Versatile Building in Prime Location

      Functional space suitable for various uses in a growing area.
      2700 North Ave, Richmond, VA 23222
      View Details
    • Sponsored
      New
      Contact for pricing

      Two Paragon Place

      Discover many ways to work your way in Two Paragon Place
      6802 Paragon Pl, Richmond, VA 23230
      View Details
    • Sponsored
      New
      Contact for pricing

      Boulders Business Park

      Discover many ways to work your way in Boulders Business Park
      7400 Beaufont Springs Dr, Richmond, VA 23225
      View Details
    • Contact for pricing

      Sun Truist Center

      Flexible workspace in Central Avenue
      919 Main St, Richmond, VA 23219
      View Details
    • Sponsored
      Contact for pricing

      Westerre Parkway

      Meet, work or collaborate in our professional Columbia Center business center
      3900 Westerre Pkwy, Richmond, VA 23233
      View Details
    • Contact for pricing

      VA, Richmond - Forest Hill Avenue

      Workspaces, services and support to help you work better in Market Street
      9211 Forest Hill Ave, Richmond, VA 23235
      View Details
    • $2,000 /Mo
      43,560 SF

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
      5604 Chamberlayne Rd, Richmond, VA 23227
      View Details
    • $22 SF/Yr
      4,800 SF

      Richmond Retail Space in Shopping Center

      Retail space available in vibrant Richmond shopping center with ample parking.
      8000 Buford Ct, Richmond, VA 23235
      View Details
    • $15 SF/Yr
      180,000 SF

      Downtown Richmond Arts District Space

      Newly renovated space in Richmond's Arts District for lease.
      5-7 E Broad St, Richmond, VA 23219
      View Details

    FAQs

    What type of property is this?
    Office space - Richmond Office Suites - 3,690 - 9,595 SF
    Where is this office space located?
    The property is located at 4901 Fitzhugh Ave Richmond, VA.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Well-located in the Willow Lawn area of Richmond, VA.; New building exterior finish.; Renovated lobbies and restrooms.
    (804) 353-0009 Call to check price and availability
    Request Owner's contact information
    4901 Fitzhugh Ave Richmond, VA 23230
    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.
    4901 Fitzhugh Ave
    Richmond, VA 23230
    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
    4901 Fitzhugh Ave Richmond, VA 23230
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ken Campbell
    Ken Campbell
    (804) 353-0009 (804) 387-8812
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!