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    11351 Nuckols Rd Glen Allen, VA 23059-5504
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    Property profile & analytics

    11351 Nuckols Rd, Glen Allen, VA 23059-5504

    View on Map
    • Super regional malls
    • 54,079 SF
    • 7.04 lot acres
    Off-Market
    Last Sale Aug 25, 2023
    $16,160,000
    Property ID
    US87-1297073
    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
    $15,595,000
    Show details
    Cap Rate Potential
    6.6%
    Super regional malls
    Location Intelligence

    Current Use by Public Records

    • Twin Hickory Tavern / Restaurant

    Property Details for 11351 Nuckols Rd

    Year built
    2001
    Lot size
    7.04 lot acres
    Zone code
    B-2C
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    746-772-0397
    APU
    7467720397

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 25, 2023 $16,160,000 Rlat3a Twin Hickory LLC Twin Hickory Mzl LLC Special Warranty Deed —
    Sep 19, 2013 $16,000,000 Twin Hickory Mzl LLC Twin Hickory E & A LLC Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,875,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,460,000
      6.5%
      $15,190,000
      7%
      $14,105,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,897,000
      Market price range: $7.05M - $39.2M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $15,810,000
      Current use
      RESTAURANT
      $19,615,000
      Change: +24% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $13,245,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Allen
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5908
    Latitude
    37.6816
    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
    2023
    $0.00
    $4,430,600
    $7,317,600
    $11,748,200
    -
    $4,430,600
    $7,317,600
    $11,748,200

    Comparable in this City

    • Value Estimation by Request
      5,292 SF

      11321 Nuckols Rd

      REGIONAL SHOPPING CENTER, MALL
      11321 Nuckols Rd, Glen Allen, VA 23059-5683
      View Details
    • Value Estimation
      $5,525,000
      33,591 SF

      10102 Brk Rd

      REGIONAL SHOPPING CENTER, MALL
      10102 Brk Rd, Glen Allen, VA 23059-6514
      View Details
    • Value Estimation
      $4,235,000
      85,627 SF

      10101 Brk Rd

      REGIONAL SHOPPING CENTER, MALL
      10101 Brk Rd, Glen Allen, VA 23059-4225
      View Details
    • Value Estimation
      $23,470,000
      135,874 SF

      9830 Brk Rd

      REGIONAL SHOPPING CENTER, MALL
      9830 Brk Rd, Glen Allen, VA 23059-4529
      View Details
    • Value Estimation
      $1,535,000
      10,354 SF

      5400 Wyndham Frst Dr

      REGIONAL SHOPPING CENTER, MALL
      5400 Wyndham Frst Dr, Glen Allen, VA 23059-5942
      View Details
    • Value Estimation
      $4,500,000
      12,701 SF

      1091 Virginia Ctr Pkwy

      SHOPPING CENTER, STRIP CENTER
      1091 Virginia Ctr Pkwy, Glen Allen, VA 23059-4572
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      ALDI NNN Lease Investment Opportunity

      NNN lease investment opportunity with ALDI in Glen Allen, VA.
      10310 Washington Hwy, Glen Allen, VA 23059
      View Details
    • $175,000
      Pending

      Glen Allen 6-Acre Lot

      6-acre lot with convenient highway access in Glen Allen.
      Old Washington Hwy, Glen Allen, VA 23059
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    • Contact for pricing

      5.67 Acres in Twin Hickory

      Land in high-income area with access to I-295.
      11320 New Wade Ln, Glen Allen, VA 23059
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    • Contact for pricing

      317 Acres of Land Parcels

      Multiple land parcels totaling 317 acres for sale.
      13080 Mountain Rd, Glen Allen, VA 23059
      View Details
    • $2,450,000
      Pending

      Henrico Land For Sale

      7.3 acres of land zoned A-1 in Henrico, Virginia.
      4796 Pouncey Tract Rd, Henrico, VA 23059
      View Details
    • Contact for pricing
      40,632 SF

      Glen Allen Warehouse with Expansion Potential

      Warehouse with office, break room, and expansion possibilities.
      1100 Technology Park Dr, Glen Allen, VA 23059
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,400 SF

      Retail Space in Glen Allen

      Retail space available in shopping center with strong tenant mix.
      1070 Virginia Center Pkwy, Glen Allen, VA 23059
      View Details
    • Contact for pricing
      7,000 SF

      Retail Development with Pad Sites

      Retail and restaurant spaces with drive-thru and patio options.
      Virginia Center Pkwy, Glen Allen, VA 23059
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center

      Community shopping center in Glen Allen, Virginia, anchored by Food Lion.
      11321-11391 Nuckols Rd, Glen Allen, VA 23059
      View Details
    • $29 SF/Yr
      1,600 SF

      Retail Space Near I-95

      Retail spaces available in high-demand shopping center near I-95.
      1080 Virginia Center Pkwy, Glen Allen, VA 23059
      View Details
    • $6,500 /Mo

      Restaurant-Ready Space on Brook Road

      Restaurant-ready space with high visibility and existing infrastructure.
      9999 Brook Rd, Glen Allen, VA 23059
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease on Route 1.
      1 & Kings Acres Rd, Glen Allen, VA 23059
      View Details
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    Glen Allen, VA 23059-5504
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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.

    More about this property
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