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    5409 Brook Rd Richmond, VA 23227
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    5409 Brook Rd Richmond, VA 23227

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

    Current Use by Public Records

    • Land

    Property Details for 5409 Brook Rd

    Lot size
    1.55 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This 1.55-acre parcel of land, located at 5409 Brook Road in Richmond, Virginia (zip code 23227), presents a prime opportunity for retail or flex development. The property is situated in Henrico County and boasts a B-3 zoning designation. The land has already undergone rough grading, significantly reducing site preparation costs and expediting the development process. The asking price for this exceptional property is $585,000. Its convenient location in Richmond offers excellent access to major transportation routes and a thriving consumer base, making it an attractive investment for developers seeking a high-return project. The property's size and zoning allow for a variety of development options, catering to diverse business needs. This is a rare opportunity to acquire a ready-to-develop site in a desirable location, offering significant potential for future growth and profitability. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Henrico
    State
    Virginia
    Longitude
    -77.4569
    Latitude
    37.6163

    Comparable in this City

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    • Value Estimation
      $8,185,000
      50,252 SF

      8575 Magellan Pkwy

      INDUSTRIAL (GENERAL) • 50,252 SF
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    • Value Estimation
      $4,130,000
      32,790 SF

      3601 Saunders Ave

      INDUSTRIAL (GENERAL) • 32,790 SF
      3601 Saunders Ave, Richmond, VA 23227-4354
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    • Value Estimation
      $3,015,000
      31,851 SF

      1905 Westwood Ave

      INDUSTRIAL (GENERAL) • 31,851 SF
      1905 Westwood Ave, Richmond, VA 23227-4364
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    • Value Estimation
      $4,715,000
      55,242 SF

      8550 Magellan Pkwy

      INDUSTRIAL (GENERAL) • 55,242 SF
      8550 Magellan Pkwy, Richmond, VA 23227-1153
      View Details
    • Value Estimation
      $7,975,000
      52,127 SF

      8570 Magellan Pkwy

      INDUSTRIAL (GENERAL) • 52,127 SF
      8570 Magellan Pkwy, Richmond, VA 23227-1161
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available in Richmond, VA

      Land for sale at 8560 Magellan Pkwy, Richmond, VA.
      8560 Magellan Pkwy, Richmond, VA 23227
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      58,000 SF

      Richmond Warehouse and Office Space

      58,000 SF Richmond property with office and warehouse space.
      1901 Westwood Ave, Richmond, VA 23227
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      1.55 Acres Retail/Flex Land

      1.55 acres of B-3 zoned land ready for development.
      5409 Brook Rd, Richmond, VA 23227
      View Details
    • $11,900,000

      Prime Land Near Scott's Addition

      Land near I-64 exit and Richmond's Diamond District.
      3315 N Arthur Ashe Blvd, Richmond, VA 23227
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    • $250,000

      Available Commercial Land Outparcel

      0.60 acres available, unique development opportunity near Starbucks.
      7901 Brook Rd, Henrico, VA 23227
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    • Contact for pricing

      51.28 Acres Commercial Land Available

      Commercial land with easy access to I-295.
      100 E Parham Rd, Richmond, VA 23227
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    Similar Nearby for Lease

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      7,200 SF

      Office Space in Business Park

      Office space with dock and drive-in loading near I-95.
      8565 Magellan Pkwy, Richmond, VA 23227
      View Details
    • Contact for pricing
      514,500 SF

      Richmond Industrial Build-to-Suit Opportunity

      514,500 SF build-to-suit opportunity near major transportation routes.
      Richmond Henrico Tpke, Richmond, VA 23227
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    • Contact for pricing
      13,620 SF

      Glen Allen Warehouse with Office

      13,620 SF warehouse with 2,968 SF office space.
      1101-1105 Athens Ave, Glen Allen, VA 23227
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    • $10 SF/Yr
      15,238 SF

      Henrico County Office/Flex Space

      Class A office/flex space with highway access in Henrico County.
      8801 Park Central Dr, Richmond, VA 23227
      View Details
    • Contact for pricing
      60,000 SF

      Richmond Industrial Space For Lease

      60,000 SF industrial space available for lease in Richmond.
      8750 Park Central Dr, Richmond, VA 23227
      View Details
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    Richmond, VA 23227
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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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