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

    5402-5488 West Broad Street Richmond, VA 23226

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available for lease in Richmond, Virginia.

    Type:Retail
    Added:
    Jun 17, 2020
    Days on Market:
    2135
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 5402-5488 West Broad Street

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 5402-5488 West Broad Street Contact us

    We can help!

    Listing Contact
    Connie Jordan Nielsen

    Listing agent Connie Jordan Nielsen License #VA 0225030466

    Listing office Cushman & Wakefield Thalhimer - Glen Allen, Virginia

    Listing date Jun 17, 2020

    Source Crexi

    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 Cushman & Wakefield Thalhimer - Glen Allen, Virginia

    Overview

    Retail Space for Lease

    Retail spaces are available for lease at 5402-5488 West Broad Street, Richmond, VA 23226.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.651767
    Latitude
    37.663415

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Commercial Space For Lease

      Commercial space suitable for retail, office, or service-based businesses.
      3227 Broad Rock Boulevard, Richmond, VA 23224
      View Details
    • Contact for pricing

      Richmond Office Space For Rent

      Upstairs office space near Chesterfield Towne Center with easy access.
      1241 Mall Drive, Richmond, VA 23235
      View Details
    • Contact for pricing

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
      5604 CHAMBERLAYNE Road, RICHMOND, VA 23227
      View Details
    • Contact for pricing

      Versatile Building in Prime Location

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

      Versatile Building in Prime Location

      Functional space with redevelopment potential in a growing area.
      2700 NORTH Avenue, RICHMOND, VA 23222
      View Details
    • $21/mo

      Modern Office Space Available

      Creative office space for rent in Manchester neighborhood.
      220 Hull Street, Richmond, VA 23224
      View Details
    • $18/mo

      Downtown Richmond Office Space Available

      2,900 SF office space for rent in downtown Richmond.
      1015 E Main Street, Richmond, VA 23219
      View Details
    • $22/mo

      Richmond Retail Space For Rent

      Retail space available in vibrant Richmond shopping center.
      8000 Buford Court, Richmond, VA, 23235
      View Details
    • Contact for pricing

      VA, Richmond - Forest Hill Avenue

      9211 Forest Hill Ave, Unit 200, Richmond, VA 23235
      View Details
    • Sponsored
      Contact for pricing

      Two Paragon Place

      6802 Paragon Pl, Unit 410, Richmond, VA 23230
      View Details
    • Contact for pricing

      Sun Truist Center

      919 Main St, Unit 1000, Richmond, VA 23219
      View Details
    • Sponsored
      Contact for pricing

      Westerre Parkway

      3900 Westerre Pkwy, Unit 300, Richmond, VA 23233
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available for lease in Richmond, Virginia.
    Where is this retail space located?
    The property is located at 5402-5488 West Broad Street Richmond, VA.
    What are key features of this property?
    This property features: For Lease
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Connie Jordan Nielsen
    Real Estate License ID: VA 0225030466
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!