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    9321 Midlothian Tpke Bon Air, VA 23235

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    9321 Midlothian Tpke Bon Air, VA 23235

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    • Day care centers
    • 66,867 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Day care centers

    Property Details for 9321 Midlothian Tpke

    Property size
    66,867 SF
    Property type
    Day care centers
    Property subtype
    Office properties & Spaces

    Description

    This exceptional investment opportunity presents 66,867 square feet of medical office and daycare space situated on Midlothian Turnpike in Bon Air, Virginia. The property, known as Fountain Park, comprises four buildings offering excellent visibility and frontage along this busy thoroughfare. Currently, there are 7,779 square feet of vacant space available, divisible into units as small as 1,364 square feet, with a maximum contiguous space of 2,429 square feet. The property is ideally suited for a variety of medical practices or daycare facilities, offering ample space for expansion or consolidation. The convenient location in the City of Richmond County, with the address 9321-9327 Midlothian Turnpike, zip code 23235, ensures easy access for patients and clients. The property boasts a generous parking ratio of 4.3 spaces per 1,000 square feet, ensuring convenient parking for both staff and visitors. This multi-tenant property offers a unique opportunity to establish a presence in a thriving commercial area with high visibility and accessibility. The build-to-suit option allows for customization to meet specific business needs. This is a rare chance to acquire a well-located, versatile property in a desirable market. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bon Air
    County
    City of Richmond
    State
    Virginia
    Longitude
    -77.5707
    Latitude
    37.4986

    Comparable in this City

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      1403 Johnston Willis Dr

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      $4,975,000
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      1212 Koger Ctr Blvd

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      3,318 SF

      10120 Robious Rd

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    • Value Estimation
      $8,970,000
      66,768 SF

      9109 Stony Pt Dr

      MEDICAL CLINIC • 66,768 SF
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    • Value Estimation
      $11,175,000
      86,166 SF

      9000 Stony Pt Pkwy

      MEDICAL CLINIC • 86,166 SF
      9000 Stony Pt Pkwy, Richmond, VA 23235-1900
      View Details

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      5,040 SF

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      41,806 SF

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      Functional Office Condo For Sale

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    • $109,999
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      3.2 acres in Stonemill Creek subdivision, ready for building.
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      Midlothian Turnpike Development Parcel

      Commercial development parcel with access to Providence Road.
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    Similar Nearby for Lease

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      2,379 SF

      Richmond Office Space For Rent

      Office park with recent renovations and medical center proximity.
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      Premier medical hub location with immediate Chippenham Parkway access.
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      18,000 SF

      Medical Office Sublease Opportunity

      Sublease opportunity: 17,951 SF medical office near HCA hospital.
      1400 Johnston Willis Dr, North Chesterfield, VA 23235
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    9321 Midlothian Tpke
    Bon Air, VA 23235
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    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
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