Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17 Le Gordon Dr Midlothian, VA 23114

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 17 Le Gordon Dr

    Property type
    Land

    Description

    This exceptional 7,270 square foot commercial land parcel is ideally situated in the heart of Midlothian, Virginia's vibrant retail corridor at the corner of Le Gordon Drive and Midlothian Turnpike. Zoned O, B, and C, this property presents a unique opportunity for a variety of commercial ventures, including medical offices and retail establishments. The site boasts excellent visibility and direct frontage on Midlothian Turnpike, ensuring high traffic exposure for your business. Architectural plans are already approved, streamlining the development process. Infrastructure is complete, with water and sewer connections in place, and a dedicated entrance ready for immediate use. The property is conveniently located near Route 288, providing easy access to major transportation arteries. This pad-ready lot is anticipated to be available for occupancy in late August or early September 2023, making it an attractive option for businesses seeking a quick and efficient entry into this thriving market. The asking price for this prime commercial land is $1,300,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6625
    Latitude
    37.5053

    Comparable in this City

    • Value Estimation by Request
      5.60 Acres

      Woolridge Rd. At Walton Park Rd

      Land • 5.60 Acres
      0 Woolridge Rd. At Walton Park Rd, Midlothian, VA 23114
      View Details
    • Value Estimation by Request

      41 Le Gordon Dr

      Land
      41 Le Gordon Dr, Midlothian, VA 23114
      View Details
    • Value Estimation by Request
      2.05 Acres

      & Charter Colony Pad Woolridge Rd

      Land • 2.05 Acres
      & Charter Colony Pad Woolridge Rd, Midlothian, VA 23114
      View Details
    • Value Estimation by Request
      3.02 Acres

      1751 Brandermill Pkwy

      COMMERCIAL (GENERAL) • 3.02 Acres
      1751 Brandermill Pkwy, Midlothian, VA 23114
      View Details
    • Value Estimation by Request
      1.90 Acres

      350 Charter Colony Pkwy

      COMMERCIAL (GENERAL) • 1.90 Acres
      350 Charter Colony Pkwy, Midlothian, VA 23114
      View Details
    • Value Estimation by Request
      62.26 Acres

      1301 Otterdale Rd

      COMMERCIAL (GENERAL) • 62.26 Acres
      1301 Otterdale Rd, Midlothian, VA 23114-6907
      View Details

    Similar Nearby for Sale

    • $975,000
      5.60 Acres

      Midlothian Commercial Land - 5.6 Acres

      Prime 5.6-acre commercial lot, ideal for development.
      0 Woolridge Rd. At Walton Park Rd, Midlothian, VA 23114
      View Details
    • $3,243,000
      43.24 Acres

      Midlothian Turnpike Commercial Land

      43 Acres, Prime Richmond Location
      16001 Midlothian Tpke, Midlothian, VA 23114
      View Details
    • Contact for pricing

      Land with Frontage on Turnpike

      Land with frontage on Midlothian Turnpike and Charter Colony Parkway.
      201 Charter Colony Pkwy, Midlothian, VA 23114
      View Details
    • Contact for pricing

      Midlothian Land Assemblage Opportunity

      28.592 acres in the heart of Midlothian.
      320-420 Coalfield Rd, Midlothian, VA 23114
      View Details
    • $875,000

      Commercial Land in High-Growth Area

      2.1+/- acre corner parcel in a high-growth commercial area.
      50 Otterdale Woods Rd, Midlothian, VA 23114
      View Details
    • Contact for pricing

      Land at Signalized Intersection

      Land with high visibility near Route 288.
      250 Charter Colony Pkwy, Midlothian, VA 23114
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Development Site at Lucks Lane

      Corner development site available for ground lease near Powhite Parkway.
      11000 Lucks Ln, Midlothian, VA 23114
      View Details
    • Contact for pricing
      16,000 SF

      Prime Mixed-Use Development Land

      16 acres of C-3 zoned land for rent.
      50 Old Otterdale Rd, Midlothian, VA 23114
      View Details
    • Contact for pricing
      562 SF

      Midlothian Executive Office Suite

      Prime Midlothian Office Space Available
      13702 Village Mill Dr, Midlothian, VA 23114
      View Details
    • Contact for pricing
      50,000 SF

      Medical/Office Space Near St. Francis

      Medical and office spaces available near St. Francis Medical Center.
      1300 Charter Colony Pkwy, Midlothian, VA 23114
      View Details
    • Contact for pricing
      31,751 SF

      Medical Office Near Hospital

      Outpatient medical building on Bon Secours St. Francis campus.
      13801 St Francis Blvd, Midlothian, VA 23114
      View Details
    • Contact for pricing
      25,000 SF

      Medical/Office Space Near St. Francis

      Medical and office spaces available near St. Francis Medical Center.
      13830 Bon Secours Dr, Midlothian, VA 23114
      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.
    17 Le Gordon Dr
    Midlothian, VA 23114
    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.