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    Property profile & analytics

    1200-1300 Concord Ave Henrico, VA 23228

    • Retail properties
    • 87,190 SF
    • 0.75 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1200-1300 Concord Ave

    Year built
    1988
    Lot size
    0.75 lot acres
    Property size
    87,190 SF
    Property type
    Retail properties

    Description

    This exceptional retail opportunity presents 1,600 square feet of vacant space within the established Hungary Brook Shopping Center, a 87,190 square foot center located at 1200-1300 Concord Avenue in Richmond, Virginia, zip code 23228. Situated on a 0.75-acre lot in Henrico County, this property boasts a highly desirable location at the intersection of Brook Road and East Parham Road, offering convenient access to Interstate 95 via East Parham Road. The center is anchored by a Food Lion and a Dollar Tree, ensuring high foot traffic and strong visibility for your business. Built in 1988, the property is part of a thriving neighborhood center, providing a well-established customer base. The available space is ideal for a variety of retail uses and presents a unique chance to establish a presence in a busy and convenient location. The entire shopping center consists of a single suite, making this a unique opportunity for a single tenant to occupy the available space. This property offers excellent potential for growth and profitability within a well-established retail environment. The 1,600 square feet of vacant space provides ample room for a variety of retail businesses. Don't miss this chance to secure a prime retail location in a high-traffic area of Richmond, Virginia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Henrico
    State
    Virginia
    Longitude
    -77.4607
    Latitude
    37.6376

    Comparable in this City

    • Value Estimation by Request
      12,000 SF

      2400 Hungary Rd

      Neighborhood centers • 12,000 SF
      2400 Hungary Rd, Henrico, VA 23228
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    • Value Estimation by Request
      2,000 SF

      000 In Sales 2023

      Restaurants • 2,000 SF
      000 In Sales 2023, Henrico, VA 23228
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    • Value Estimation
      $2,120,000
      14,280 SF

      7103 Staples Ml Rd

      REGIONAL SHOPPING CENTER, MALL • 14,280 SF
      7103 Staples Ml Rd, Henrico, VA 23228-4110
      View Details
    • Value Estimation
      $16,235,000
      128,949 SF

      9001 Staples Ml Rd

      RETAIL STORES (PERSONAL SERVICES) • 128,949 SF
      9001 Staples Ml Rd, Henrico, VA 23228-2022
      View Details
    • Value Estimation
      $2,940,000
      23,820 SF

      8300 Staples Ml Rd

      SHOPPING CENTER, STRIP CENTER • 23,820 SF
      8300 Staples Ml Rd, Henrico, VA 23228-2741
      View Details
    • Value Estimation by Request
      59,861 SF

      9041 Staples Ml Rd

      REGIONAL SHOPPING CENTER, MALL • 59,861 SF
      9041 Staples Ml Rd, Henrico, VA 23228-2022
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      87,190 SF

      Hungary Brook Retail Center

      Prime Retail Space in Henrico, VA
      1200-1300 Concord Ave, Henrico, VA 23228
      View Details
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      7,872 SF

      Staples Mill Rd Retail Spaces

      Grocery-anchored retail spaces in Henrico, VA.
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      Retail space available in shopping center with high traffic.
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      96,343 SF

      Staples Mill Square Retail Center

      High-traffic retail space available.
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      Retail Space in Verizon Center

      Retail spaces for lease in Henrico County, Virginia.
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      1,875 SF

      Richmond Industrial Flex Space Available

      Flexible office/warehouse space with easy access to major routes.
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    1200-1300 Concord Ave
    Henrico, VA 23228
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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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