Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5400 Broad St Richmond, VA 23230

    Sponsored
    For Lease
    Contact for pricing

    Richmond, VA: Prime Retail Space Available

    Lot size:
    43,881 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Willow Place, a Class B retail center located at 5400 W Broad St in Richmond, Virginia (zip code 23230), offers exceptional leasing opportunities. This Henrico County property boasts a total of 43,881 square feet, currently 100% vacant and ready for immediate occupancy. The property sits on a 0.91-acre lot and is configured for multiple tenants. Flexible space options are available, ranging from a minimum of 1,280 square feet to a maximum contiguous space of 25,000 square feet, making it ideal for a variety of retail businesses. The property's storefront design provides excellent street visibility and accessibility for customers. Its "Strip Front" configuration offers individual units with independent entrances, enhancing tenant privacy and operational independence. The property's location on W Broad St provides high traffic volume and exposure to a large customer base. This is a rare opportunity to secure a significant retail presence in a thriving Richmond commercial corridor. The property is classified as a multi-tenant retail space, offering a diverse range of possibilities for businesses seeking a prominent location in a busy area. Contact us today to learn more about leasing options and to schedule a viewing.

    Property Features for 5400 Broad St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,881 SF
    Class
    B

    Unit(s) available at that property

    Space
    Available Space
    Size
    25,000 SF
    Space
    Available space
    Size
    1,712 SF
    Space
    Available Space
    Size
    4,129 SF
    Space
    Available Space
    Size
    1,800 SF
    Space
    Available Space
    Size
    3,000 SF
    Space
    Available space
    Size
    1,280 SF
    Space
    Available space
    Size
    1,360 SF
    Space
    Available space
    Size
    5,600 SF

    HighLights

    • Full center redevelopment underway.
    • All 43,881 square feet available for lease.
    • Located in the Willow Lawn | Midtown Market area of Richmond, VA, at the intersection of West Broad Street and Libbie Avenue.
    • Multiple points of access with signalized intersections.
    • 100% vacant, 0.91‑acre lot, flexible space options from 1,280 to 25,000 contiguous square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bank of America ATM ... Atm Shake Shack Willow ... Hamburger Restaurant Willow Place Shopping ... Shopping Mall

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Henrico
    State
    Virginia
    Longitude
    -77.4999954
    Latitude
    37.5875692

    Nearby Similar for Lease

    • New
      $5,800 /Mo
      16,988 SF

      Versatile Commercial Building in Richmond, VA

      Functional space with redevelopment potential in a growing area.
      2700 North Ave, Richmond, VA 23222
      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
    • $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
    • $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
    • $3,990 /Mo
      13,068 SF

      Richmond Commercial Kitchen and Restaurant

      Stand-alone retail building with 20+ parking spaces, suitable for restaurant.
      4809 Parker St, Richmond, VA 23231
      View Details
    • $2,100 /Mo

      Colonial Office Building For Lease

      All brick colonial office building near Johnston-Willis Hospital.
      10045 Midlothian Tpke, 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
    • $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
    • Contact for pricing
      1,875 SF

      Richmond Industrial Flex Space Available

      Flexible office/warehouse space with easy access to major routes.
      8522-8572 Sanford Dr, Richmond, VA 23228
      View Details
    • Contact for pricing
      3,525 SF

      Richmond Retail Center For Lease

      Neighborhood shopping center with high traffic and instant name recognition.
      8502-8540 Patterson Ave, Richmond, VA 23229
      View Details
    • Contact for pricing
      5,000 SF

      Richmond Industrial Flex Space Available

      Flexible office/warehouse space with easy access to major routes.
      8580-8598 Sanford Dr, Richmond, VA 23228
      View Details
    • Contact for pricing
      2,075 SF

      Downtown Richmond Office Space Available

      Renovated office building in the heart of downtown Richmond.
      626 E Broad St, Richmond, VA 23219
      View Details

    FAQs

    What type of property is this?
    Retail property - Richmond, VA: Prime Retail Space Available
    Where is this retail property located?
    The property is located at 5400 Broad St Richmond, VA.
    What are key features of this property?
    This property features: Full center redevelopment underway.; All 43,881 square feet available for lease.; Located in the Willow Lawn | Midtown Market area of Richmond, VA, at the intersection of West Broad Street and Libbie Avenue.
    Request Owner's contact information
    5400 Broad St 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.
    5400 Broad St
    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.

    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
    5400 Broad St 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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.