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    3820 Richmond Hwy Richmond, VA 23234
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    3820 Richmond Hwy, Richmond, VA 23234

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    • Warehouses
    • 5,113 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 3820 Richmond Hwy

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This 5,113-square-foot freestanding warehouse in Chesterfield County, Virginia, offers immediate occupancy. Located at 3820 Richmond Highway, on the corner of Richmond Highway and Bells Road, this single-tenant property provides ample space for various industrial needs. Situated behind the Hall Street Outlet retail store, the building boasts a 15-foot ceiling height, making it suitable for storage or other uses requiring vertical space. The property is ideal for businesses seeking secure storage solutions. It's important to note that the warehouse currently lacks plumbing infrastructure. The address is 3820 Richmond Hwy, Richmond, VA 23234. The property's total square footage is 5,113 square feet, with all 5,113 square feet currently vacant and available. This presents a unique opportunity for a business seeking a readily available, sizable warehouse space in a convenient location. The property is classified as industrial, with a warehouse subtype. Further details regarding specific zoning or permitted uses should be verified independently.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.444
    Latitude
    37.4719

    Comparable in this City

    • Value Estimation
      $1,140,000
      18,980 SF

      3024 Bells Rd

      DISTRIBUTION WAREHOUSE
      3024 Bells Rd, Richmond, VA 23234-1608
      View Details
    • Value Estimation
      $1,520,000
      25,065 SF

      2300 Deepwater Terminal Rd

      DISTRIBUTION WAREHOUSE
      2300 Deepwater Terminal Rd, Richmond, VA 23234-1818
      View Details
    • Value Estimation
      $2,620,000
      40,760 SF

      4500 Deepwater Terminal Rd

      DISTRIBUTION WAREHOUSE
      4500 Deepwater Terminal Rd, Richmond, VA 23234-2213
      View Details
    • Value Estimation
      $1,595,000
      21,000 SF

      4600 Deepwater Terminal Rd

      DISTRIBUTION WAREHOUSE
      4600 Deepwater Terminal Rd, Richmond, VA 23234-2211
      View Details
    • Value Estimation
      $1,845,000
      28,884 SF

      3900 Deepwater Terminal Rd

      DISTRIBUTION WAREHOUSE
      3900 Deepwater Terminal Rd, Richmond, VA 23234-2225
      View Details
    • Value Estimation by Request
      3,600 SF

      3700 Belt Blvd

      DISTRIBUTION WAREHOUSE
      3700 Belt Blvd, Richmond, VA 23234-1525
      View Details

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    Similar Nearby for Lease

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      Richmond Warehouse Space for Lease

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      Industrial Single Tenant Warehouse Space

      42,250 SqFt single tenant industrial space for rent.
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      330,000 SF

      Richmond Warehouse Available For Lease

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    3820 Richmond Hwy
    Richmond, VA 23234
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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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