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    3405 Commerce Rd Richmond, VA 23234

    For Sale
    $5,100,000

    High-cash-flow industrial property.

    Property size:
    42,628 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional single-tenant industrial investment opportunity in Richmond, VA, presents a compelling chance to acquire a high-cash-flow asset with minimal management demands. Located at 3405 Commerce Rd, this 42,628 square foot building sits on a 3.46-acre parcel and boasts a triple-net lease structure, ensuring the tenant, Git The Trucking Commercial Tires, covers all real estate taxes, insurance, utilities, and maintenance. The building, constructed in 1962 and recently updated with a new roof (20-year warranty), features 12-foot ceilings, three loading docks, one drive-in door, and two levelers. The property also includes approximately 177 parking spaces. The current lease, in place for over a year, includes annual market rate increases. The building's prime location, with high visibility from I-95, makes it an ideal distribution hub for the East Coast. The property's M-1 zoning and 3-phase/240V/3000-amp service further enhance its appeal. The building's previous use was printing and direct mail, showcasing its adaptability. The strong Richmond industrial market, characterized by healthy demand and significant rental rate growth, ensures a robust return on investment. This is a turnkey opportunity for a savvy investor seeking a low-maintenance, high-yield property. The asking price is $5,100,000, translating to $128.03 per square foot. The property is currently 100% occupied.

    Property Features for 3405 Commerce Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    42,628 SF

    Building Details

    Year Built
    1962
    Buildings
    1
    Stories
    1

    HighLights

    • $5,100,000 asking price for this industrial investment opportunity.
    • 42,628 square foot building on a 3.46‑acre parcel with 177 parking spaces.
    • Excellent location in Richmond, VA, with high visibility from I‑95.
    • 100% occupied by a strong local tenant under a triple‑net lease with annual rent increases.
    • Recently replaced roof with a 20‑year warranty.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CC Staffing service Employment Agency Git The Trucking Commercial ... Tire Shop 69 Chosen LLC Screen Printer

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Pharmacy Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4308497
    Latitude
    37.4759668

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    FAQs

    What type of property is this?
    Distribution property - High-cash-flow industrial property.
    Where is this distribution property located?
    The property is located at 3405 Commerce Rd Richmond, VA.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: $5,100,000 asking price for this industrial investment opportunity.; 42,628 square foot building on a 3.46-acre parcel with 177 parking spaces.; Excellent location in Richmond, VA, with high visibility from I-95.
    Request Owner's contact information
    3405 Commerce Rd Richmond, VA 23234
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    Richmond, VA 23234
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    Realmo Value Estimation

    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.

    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.

    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
    3405 Commerce Rd Richmond, VA 23234
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