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    1101 Azalea Ave Richmond, VA 23227

    • Banks
    • 2,676 SF
    • 0.66 lot acres
    For Sale
    View listing
    $750,000
    Value Estimation
    Last Sale
    Jan 19, 2022
    $725,000
    Location Intelligence
    Property ID
    US87-3693729
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Banks

    Property Details for 1101 Azalea Ave

    Year built
    1981
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.66 lot acres
    Property size
    2,676 SF
    Zone code
    B-2 COMMUNITY BUSINESS
    Property type
    Banks
    APN
    N-017-0079-027
    APU
    N0170079027

    Description

    This exceptional 2,831 square foot commercial property, located at 1101 Azalea Ave in Richmond, VA, presents a unique investment opportunity. Situated on a 0.65-acre lot in Richmond County, this single-tenancy building is currently vacant and ready for immediate occupancy. The property's previous use as a bank branch offers a versatile layout adaptable to various commercial ventures, including executive office space, retail, or restaurant operations. Its strategic location across from a Jiffy Lube and KFC ensures high visibility and convenient access for potential customers and employees. The building's total square footage is 2,831 square feet, all of which is currently available. The property is classified as both retail and office space, making it suitable for a wide range of businesses. The address is 1101 Azalea Ave, Richmond, VA 23227. This property offers a compelling combination of prime location, ample space, and adaptability, making it an ideal choice for businesses seeking a prominent presence in a high-traffic area of Richmond. The property is available for lease.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $635,000

    • CAP approach

      CAP return
      Estimation
      6%
      $610,000
      6.5%
      $720,000
      7%
      $700,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $775,000
      Geo Method
      $680,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $740,000
      Retail
      $560,000
      Mixed-Use
      $740,000
      Hospitality
      $605,000
      Educational
      $635,000
      Residential Income
      $640,000
      Energy
      $725,000
      Income-Based Land
      $675,000
      Food Service
      $755,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4519
    Latitude
    37.6013
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $425,000
    $394,000
    $819,000
    -
    $425,000
    $394,000
    $819,000

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      3,460 SF

      4921 Hermitage Rd

      FINANCIAL BUILDING • 3,460 SF
      4921 Hermitage Rd, Richmond, VA 23227
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    • Value Estimation
      $315,000
      2,288 SF

      5011 Brk Rd

      FINANCIAL BUILDING • 2,288 SF
      5011 Brk Rd, Richmond, VA 23227-3416
      View Details
    • Value Estimation
      $475,000
      2,874 SF

      5610 Brk Rd

      FINANCIAL BUILDING • 2,874 SF
      5610 Brk Rd, Richmond, VA 23227-2256
      View Details
    • Value Estimation by Request
      35,820 SF

      8151 Brk Rd

      RETAIL STORES (PERSONAL SERVICES) • 35,820 SF
      8151 Brk Rd, Richmond, VA 23227-1307
      View Details
    • Value Estimation
      $280,000
      2,975 SF

      4924 Chamberlayne Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,975 SF
      4924 Chamberlayne Ave, Richmond, VA 23227-3420
      View Details

    Similar Nearby for Sale

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      Prime Richmond Redevelopment Opportunity

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    Similar Nearby for Lease

    • $23 SF/Yr
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      Prime Richmond Retail Opportunity

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      1101 Azalea Ave, Richmond, VA 23227
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      Retail space available in Henrico County shopping center.
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    • $1,245,000
      4,280 SF

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      Retail space for rent with frontage on Chamberlayne Road.
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    • Contact for pricing
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      Retail Space Near Major Highways

      Retail space available in highly visible strip center.
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      41,117 SF

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      41,117 SF former Walmart, excellent location and visibility.
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    • $2,000 /Mo
      43,560 SF

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
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    1101 Azalea Ave
    Richmond, VA 23227
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    Realmo Value Estimation

    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.

    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.

    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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