3201 Broad Rock RdRichmond, VA 23224

Property Details for 3201 Broad Rock Rd

Year built

1957

Construction

WOOD

Lot size

0.02 AC

Property size (Sq ft)

693 SF

Zone code

R-5 SINGLE FAMILY

Property type

Retail properties

Property subtype

Retail space

APN

S-000-2130-004

APU

S0002130004

Description

This 693-square-foot free-standing commercial building is situated in a rapidly growing Richmond neighborhood, near downtown, the VA Hospital, and abundant amenities. Its location at a busy intersection ensures high visibility and ample foot traffic. The property features large front windows maximizing exposure, and a rear outdoor patio area suitable for additional seating or displays. On-street parking provides convenient access for customers and employees. The flexible floor plan is ideal for a variety of businesses, from retail shops and cafes to studios and salons. The 0.02-acre lot offers potential for future expansion. This building presents a unique opportunity to establish a business in a thriving community experiencing significant residential development, promising strong investment potential and a high return. The asking price is $134,950.

• CAP approach

  CAP return

  Valuation

  6%

  $189,005

  6.5%

  $174,466

  7%

  $162,004

• Comparable approach

  Method

  Valuation

  Relative Method

  $195,996

  Geo Method

  $291,660

• Alternative Use

  Use

  Valuation

  Residential

  $147,169

  Hospitality

  $134,806

  Educational

  $112,157

  Medical

  $116,014

  Retail

  $174,466

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5055

Longitude

-77.4637

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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