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    10800 Midlothian Tpke North Chesterfield, VA 23235
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    Property profile & analytics

    10800 Midlothian Tpke, North Chesterfield, VA 23235

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    • Office buildings
    • 72,510 SF
    • 9.43 lot acres
    For Lease
    $11,335,000
    View Listing →
    Move-in Ready Office Suites Available For Lease
    $11,335,000
    1,717 SF

    Move-in Ready Office Suites Available

    Office suites available from 1,207 SF to 7,382 SF.

    10800 Midlothian Tpke, North Chesterfield, VA
    View Listing
    Property ID
    US87-0641963
    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.
    Value Estimations
    $11,335,000
    Cap Rate Potential
    9%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Newton Geoffrey A / Vocational School
    • Corey Pollard Law / Law Firm
    • Britt, Byrne & Warren, PLLC / Law Firm
    • Hudson Cook LLP / Law Firm
    • Marks Samuel / Law Firm

    Property Details for 10800 Midlothian Tpke

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    9.43 lot acres
    Zone code
    O2 - CORP OFFICE DIST
    Property type
    Office buildings
    APN
    744-70-97-57-400-000
    APU
    744709757400000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 16, 2021 $11,250 Kas Winchester LLC Hertz Richmond Holdings LLC Special Warranty Deed —
    May 12, 2015 — Hertz Richmond Holdings LLC — Deed Of Trust · related $21.7M · Jp Morgan Chase Bk
    Mar 13, 2012 — Hertz Richmond Holdings LLC Parkway Properties LP Trustees Deed · related $21.5M · Bank Of America
    Mar 13, 2012 $25,000,000 Hertz Richmond Holdings LLC Parkway Properties LP Grant Deed · related —

    Description

    The Winchester Building, located at 10800 Midlothian Turnpike in Richmond, Virginia, offers exceptional executive office space for lease. This three-story building boasts a total of 44,392 square feet, currently featuring 2,391 square feet of immediately available space. The property is classified as multi-tenant, providing a dynamic and collaborative environment. Situated in Chesterfield County, zip code 23235, this location offers convenient access to Bon Air's amenities and major transportation routes. The building provides ample parking, with a ratio of 4.0 spaces per 1,000 square feet of leased space. The available suite presents a unique opportunity for businesses seeking a prestigious and functional workspace in a thriving community. The property type is office, specifically categorized as executive office and professional space. This listing is for a single available space totaling 2,391 square feet, ideal for a variety of business needs. Interested parties are encouraged to inquire about lease terms and explore the possibilities of establishing their presence in this well-maintained and strategically located building. The building's address is 10800 Midlothian Turnpike, Bon Air, Richmond, Virginia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,540,000
      ML approach
      $9,540,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,300,000
      Market price range: $4.85M - $12.6M
      AI Estimate
      $15,765,000
      Market price range: $4.61M - $20.9M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,975,000
      Current use
      COMMERCIAL (GENERAL)
      $18,115,000
      Change: +102% Conversion: Easy
      AUTO REPAIR, GARAGE
      $13,205,000
      Change: +47% Conversion: Difficult
      MEDICAL BUILDING
      $12,080,000
      Change: +35% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $11,915,000
      Change: +33% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $11,655,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $10,445,000
      Change: +16% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5974
    Latitude
    37.5078
    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
    2024
    $102,193
    $4,005,400
    $6,855,200
    $10,860,600
    -
    $4,005,400
    $6,855,200
    $10,860,600

    Comparable in this City

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      126,696 SF

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      OFFICE BUILDING
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      View Details
    • Value Estimation
      $6,200,000
      25,000 SF

      100 Gtwy Ctr Pkwy

      OFFICE BUILDING
      100 Gtwy Ctr Pkwy, North Chesterfield, VA 23235-5174
      View Details
    • Value Estimation
      $935,000
      5,040 SF

      11449 Robious Rd

      OFFICE BUILDING
      11449 Robious Rd, North Chesterfield, VA 23235-4309
      View Details
    • Value Estimation
      $890,000
      4,800 SF

      11448 Robious Rd

      OFFICE BUILDING
      11448 Robious Rd, North Chesterfield, VA 23235-4310
      View Details
    • Value Estimation by Request
      1,204 SF

      2060 Buford Rd

      OFFICE BUILDING
      2060 Buford Rd, North Chesterfield, VA 23235-3409
      View Details
    • Value Estimation
      $930,000
      8,536 SF

      11512 Allecingie Pkwy

      OFFICE BUILDING
      11512 Allecingie Pkwy, North Chesterfield, VA 23235-4319
      View Details

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      Renovated Office Park with Monument Signage

      Recently renovated four-building office park offering office and medical suites, with prominent frontage, courtyard amenities, and ample parking.
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      Functional Office Condo For Sale

      Professional office condo with reception, offices, and convenient location.
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      32,194 SF

      Bon Air Research and Clinical Laboratory

      32,194 SF research and clinical laboratory in Bon Air.
      601 Biotech Dr, Bon Air, VA 23235
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    • $109,999
      3.20 Acres

      Residential Land in Chesterfield, VA

      3.2 acres in Stonemill Creek subdivision, ready for building.
      1551 Twilight Ln, Chesterfield, VA 23235
      View Details
    • Contact for pricing

      Commercial Development Parcel on Turnpike

      Commercial land for development with access to major parkways.
      8212 Midlothian Tpke, Richmond, VA 23235
      View Details

    Similar Nearby for Lease

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      4,184 SF

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      Modern office building with highway access and ample parking.
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    • $16 SF/Yr
      27,700 SF

      High-Visibility Building on Route 360

      Versatile two-story building suitable for various uses along Route 360.
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      10,000 SF

      North Chesterfield Office Space Available

      Office space for lease in North Chesterfield, Virginia.
      134 Gateway Centre Pkwy, North Chesterfield, VA 23235
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      22,971 SF

      Class A Office Space Available

      Class A office building with updated finishes and ample parking.
      101 Gateway Centre Pkwy, Richmond, VA 23235
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      3,482 SF

      Bon Air Professional Office Space

      Office space available for lease in Richmond, Virginia.
      2800 Buford Rd, Richmond, VA 23235
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      3,792 SF

      Office Space with Modern Amenities

      Renovated office space with cafe, conference center, and outdoor seating.
      9030 Stony Point Pkwy, Richmond, VA 23235
      View Details
    View Listing
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    North Chesterfield, VA 23235
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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.

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