51 Labrook ConcourseRichmond, VA 23224

Property Details for 51 Labrook Concourse

Year built

1989

Construction

STEEL FRAME

Lot size

0.63 AC

Property size (Sq ft)

10,000 SF

Zone code

B-3 GENERAL BUSINESS

Property type

Retail properties

Property subtype

Auto shops

APN

C-006-0921-046

APU

C0060921046

Description

This exceptional 10,000-square-foot distribution center, newly constructed in 2024, presents a unique opportunity in Richmond, Virginia. Located at 51 Labrook Concourse, this single-tenant property boasts a prime location with convenient access to major thoroughfares like Midlothian Turnpike and Chippenham Parkway. The building features a spacious 16-foot ceiling height, perfect for efficient storage and operations. With 2 drive-in bays and 16 total parking spaces, including a fenced rear parking area, loading and unloading are streamlined. The property sits on a 0.625-acre lot with 202 feet of frontage, offering ample space for maneuvering. The interior includes 1,500 square feet of dedicated office space, ideal for administrative functions. The building is classified as Class C and zoned B-3, providing flexibility for various uses. This property is ideal for businesses in distribution, automotive, or contracting sectors. The property is available for occupancy in late Fall 2024. The APN is C0060921042. This is a rare opportunity to secure a brand-new, well-appointed distribution center in a highly desirable Richmond location. Don't miss out on this chance to establish your business in a strategic and efficient space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,801,366

  6.5%

  $2,585,876

  7%

  $2,401,171

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,105,424

  Geo Method

  $4,208,652

• Alternative Use

  Use

  Valuation

  Residential

  $2,181,284

  Hospitality

  $1,998,044

  Educational

  $1,662,349

  Medical

  $1,719,520

  Retail

  $2,585,876

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5031

Longitude

-77.5097

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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