Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6550 Hull Street Rd Richmond, VA 23224
    Back to Search
    Property profile & analytics

    6550 Hull Street Rd Richmond, VA 23224

    View on Map
    • Warehouses
    • 33,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Haynes Furniture / Interior Design / Home Decor Store

    Property Details for 6550 Hull Street Rd

    Property size
    33,000 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 33,000-square-foot warehouse, located at 6550 Hull Street Rd, Richmond, VA 23224, presents a significant opportunity for industrial businesses seeking immediate occupancy. The single-tenant property boasts a prime location in Richmond County, offering convenient access to Chippenham Parkway. The building features two dock-high doors, facilitating efficient loading and unloading operations. Zoned B-3, this warehouse is ideally suited for a variety of industrial uses. With its substantial 33,000 square feet of vacant space, this property provides ample room for operations, storage, or manufacturing. The cross street is Elkhardt Rd, providing additional access and visibility. The property's location offers excellent regional accessibility, making it an attractive option for businesses serving a wider market area. This is a rare opportunity to secure a large, well-located warehouse in a thriving industrial sector. All 33,000 square feet are currently available for lease. Contact us today to schedule a viewing and explore the possibilities this exceptional property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond
    State
    Virginia
    Longitude
    -77.5159
    Latitude
    37.4819

    Comparable in this City

    • Value Estimation by Request
      10,652 SF

      101 7Th St

      Distribution properties • 10,652 SF
      101 7Th St, Richmond, VA 23224
      View Details
    • Value Estimation by Request
      36,250 SF

      1110 Richmond Hwy

      Distribution properties • 36,250 SF
      1110 Richmond Hwy, Richmond, VA 23224
      View Details
    • Value Estimation by Request
      14,200 SF

      1010 Richmond Hwy

      Distribution properties • 14,200 SF
      1010 Richmond Hwy, Richmond, VA 23224
      View Details
    • Value Estimation
      $1,465,000
      17,316 SF

      1608 Commerce Rd

      DISTRIBUTION WAREHOUSE • 17,316 SF
      1608 Commerce Rd, Richmond, VA 23224-7502
      View Details
    • Value Estimation by Request
      3,360 SF

      3300 Formex Rd

      DISTRIBUTION WAREHOUSE • 3,360 SF
      3300 Formex Rd, Richmond, VA 23224-6369
      View Details
    • Value Estimation by Request
      3,150 SF

      1500 Bainbridge St

      DISTRIBUTION WAREHOUSE • 3,150 SF
      1500 Bainbridge St, Richmond, VA 23224-2050
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Manchester Warehouse/Showroom/Office with Yard

      9,102 SF warehouse/showroom/office with fenced storage yard.
      706 Decatur St, Richmond, VA 23224
      View Details
    • $375,000

      Hull Street Warehouse Opportunity

      Warehouse with access from Hull and 28th Street.
      2801 Hull St, Richmond, VA 23224
      View Details
    • Contact for pricing

      Old Manchester Warehouse/Showroom/Office Space

      9,102 SF warehouse/showroom/office with fenced storage yard.
      706 Decatur St, Richmond, VA 23224
      View Details
    • Contact for pricing

      Warehouse, Showroom, and Office Space

      9,102 SF warehouse/showroom/office with fenced storage in Old Manchester.
      706 Decatur St, Richmond, VA 23224
      View Details
    • $599,000

      Warehouse Near Major Routes

      Warehouse property located near Rt. 301 and I-95.
      1308-1310 Hull St, Richmond, VA 23224
      View Details
    • Contact for pricing

      Old Manchester Warehouse/Showroom/Office Space

      9,102 SF warehouse/showroom/office with fenced storage yard.
      706 Decatur St, Richmond, VA 23224
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      112,000 SF

      Industrial Space with Planned Improvements

      Industrial space for lease with planned renovations and outdoor storage.
      1700 Richmond Hwy, Richmond, VA 23224
      View Details
    • Contact for pricing
      19,500 SF

      Richmond Warehouse with Secured Parking

      19,500 SF warehouse with secured parking near I-95.
      300 Stockton St, Richmond, VA 23224
      View Details
    • Contact for pricing
      58,000 SF

      Centrally Located Warehouse Space

      Warehouse space centrally located less than 2-miles from I-95.
      1500 Commerce Rd, Richmond, VA 23224
      View Details
    • Contact for pricing
      8,498 SF

      Manchester Industrial Property For Lease

      8,498 SF industrial property with loading dock and drive-in.
      202 Stockton St, Richmond, VA 23224
      View Details
    • Contact for pricing
      32,600 SF

      Richmond Warehouse Space Available

      32,600 SF warehouse space for lease in Richmond.
      2 Giant Dr, Richmond, VA 23224
      View Details
    • $5 SF/Yr
      14,200 SF

      Richmond Warehouse Space Available

      14,200 SF warehouse space for lease in Richmond.
      1110 Richmond Hwy, Richmond, VA 23224
      View Details
    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.
    6550 Hull Street Rd
    Richmond, VA 23224
    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

    Thank You for Inquiry
    6550 Hull Street Rd, Richmond, VA, 23224
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!