2621 Pocoshock BlvdRichmond, VA 23235

Property Details for 2621 Pocoshock Blvd

Year built

1985

Lot size

1.05 AC

Property size (Sq ft)

4,950 SF

Zone code

C2 - NBHD BUSINESS DIST

Property type

Specialty properties

Property subtype

Day care centers & nurseries

APN

762-69-57-71-900-000

APU

762695771900000

Description

Exceptional investment opportunity: a 4,950 sq ft retail property in Richmond, VA, fully occupied by KinderCare Learning Centers under a new 10-year absolute NNN lease (commencing September 1st, 2024). The lease features a strong 6.15% cap rate and rent escalations to $105,500 annually in years 6-10 from $98,200 in years 1-5. Located on a 1.05-acre lot at 2621 Pocoshock Blvd, this property boasts a prime location within the C2 (Neighborhood Business District) zoning. Built in 1985, the building is well-maintained and benefits from the tenant's responsibility for structural components, including roof and HVAC, eliminating landlord responsibilities. The KinderCare facility has operated at this location for over 35 years and currently runs at full capacity with a waiting list, indicating strong tenant performance and market demand. The property's asking price is $1,600,000, translating to a price per square foot of $323.23. Two 5-year renewal options are included in the lease agreement, providing long-term stability and predictable income. This is a rare opportunity to acquire a passively managed, high-performing retail investment with significant upside potential. The property's APN is 762-69-57-71-900-000.

• CAP approach

  CAP return

  Valuation

  6%

  $897,729

  6.5%

  $828,673

  7%

  $769,482

• Comparable approach

  Method

  Valuation

  Relative Method

  $638,875

  Geo Method

  $950,704

• Alternative Use

  Use

  Valuation

  Residential

  $1,051,207

  Hospitality

  $962,900

  Educational

  $801,121

  Medical

  $828,673

  Retail

  $1,246,188

Location Insight

City

North Chesterfield

County

Chesterfield

State

Virginia

Latitude

37.4674

Longitude

-77.5357

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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