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    10300 Washington Hwy Glen Allen, VA 23059

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    10300 Washington Hwy Glen Allen, VA 23059

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    • Land
    • 0.96 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 10300 Washington Hwy

    Lot size
    0.96 lot acres
    Property type
    Land

    Description

    Two commercial land parcels are available for purchase or ground lease in Glen Allen, Virginia, offering exceptional build-to-suit opportunities. Located at 10300 Washington Highway, these parcels boast B-3 zoning and range from 0.96 to 1.32 acres. The property enjoys a highly visible location on Washington Highway (Route 1), with excellent signage opportunities. Daily traffic counts are substantial, with Washington Highway/Route 1 seeing approximately 15,000 vehicles, Sliding Hill Road approximately 24,000, and I-95 boasting 60,000-63,000 vehicles per day. The parcels will be delivered pad-ready, simplifying development. This strategic location offers unparalleled access to I-95, placing businesses within easy reach of a major transportation artery. Furthermore, the site benefits from its proximity to a planned $233 million HCA hospital on the other side of the I-95 interchange and less than a mile from a developing $50 million sports and mixed-use village in Henrico County. This combination of high visibility, convenient access, and significant surrounding development makes this an exceptional investment opportunity in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Glen Allen
    County
    Hanover
    State
    Virginia
    Longitude
    -77.4615
    Latitude
    37.6882

    Comparable in this City

    • Value Estimation by Request

      Washington Hwy. At Sliding Hl Rd

      Land
      0 Washington Hwy. At Sliding Hl Rd, Ashland, VA 23059
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    • Value Estimation by Request
      17.41 Acres

      Wyndham Park Dr At Nuckols Rd

      Land • 17.41 Acres
      0 Wyndham Park Dr At Nuckols Rd, Glen Allen, VA 23059
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    • Value Estimation by Request
      75.00 Acres

      Pouncey Tract Rd & Wyndham Dr

      Land • 75.00 Acres
      0 Pouncey Tract Rd & Wyndham Dr, Glen Allen, VA 23059
      View Details
    • Value Estimation
      $47,510,000
      50.20 Acres

      11129 Washington Hwy

      COMMERCIAL (GENERAL) • 50.20 Acres
      11129 Washington Hwy, Glen Allen, VA 23059-1908
      View Details
    • Value Estimation by Request
      1.10 Acres

      Cedar Ln Ln

      COMMERCIAL (GENERAL) • 1.10 Acres
      Cedar Ln Ln, Glen Allen, VA 23059
      View Details
    • Value Estimation
      $580,000
      3,750 SF

      11000 Washington Hwy

      COMMERCIAL (GENERAL) • 3,750 SF
      11000 Washington Hwy, Glen Allen, VA 23059-1904
      View Details

    Similar Nearby for Sale

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      317 Acres of Land Parcels

      Multiple land parcels totaling 317 acres for sale.
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      Prime Land Parcel in Short Pump

      1.5-acre parcel in Short Pump area with development potential.
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      Land Parcels in Glen Allen

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      311+ Acres of Land Parcels

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      Prime Land For Sale

      17.41 acres of commercial land near Short Pump Mall.
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      Land in Premier Location

      Prime land in Glen Allen's development corridor for sale.
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    Similar Nearby for Lease

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      24,400 SF

      Retail Space in Glen Allen

      Retail space available in shopping center with strong tenant mix.
      1070 Virginia Center Pkwy, Glen Allen, VA 23059
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      Office Space Available For Lease

      Office space for lease at 120 Eastshore Dr, Glen Allen.
      120 Eastshore Dr, Glen Allen, VA 23059
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      Retail Space for Lease

      Retail space available for lease on Route 1.
      1 & Kings Acres Rd, Glen Allen, VA 23059
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      22,921 SF

      Glen Allen Warehouse Space Available

      22,921 SF warehouse space with 140' truck court.
      10384 Cedar Ln, Glen Allen, VA 23059
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      3,029 SF

      Class A Office Space Available

      Two-story office building with lakefront access and fitness facility.
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      Glen Allen Office Space Available

      Office space for rent in a prime Glen Allen location.
      5300 Hickory Park Dr, Glen Allen, VA 23059
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    Glen Allen, VA 23059
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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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    10300 Washington Hwy, Glen Allen, VA, 23059

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