Property profile

115 Browns Way Rd Midlothian, VA 23114

FOR LEASE
Retail space
Property ID
US87-0041308
14,400 SF 0.9 ac lot Built 2001
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail opportunity is located at the Shops at Railey Hill, situated on the highly visible and heavily trafficked Midlothian Turnpike, boasting 58,000 vehicles per day. The property is a two-story building totaling 14,528 square feet. Currently, two retail spaces are available, each measuring 1,100 square feet. This presents a unique chance for businesses seeking high visibility and excellent access to a large customer base. The minimum leasable space is 1,100 square feet, and the maximum contiguous space available is also 1,100 square feet. The building is currently home to a mix of established businesses, including Jo-Jo's Pizza and Idyllic Nails, creating a vibrant and successful retail environment. With 2,200 square feet currently vacant, this presents an immediate opportunity for expansion or new tenancy. The property's location on Midlothian Turnpike ensures significant foot traffic and drive-by visibility, making it an ideal location for a variety of retail businesses. The building's two-story design offers versatile space options. Don't miss this chance to establish your business in a prime Chesterfield County location.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2001
Total area 14,400 SF
Lot 0.9 ac (39,248 SF)
Zoning code O2 - CORP OFFICE DIST
APN 732-70-79-05-000-000
UPID US87-0041308

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

115 Browns Way Rd Midlothian, VA 23114
Midlothian metro Census 100930 RICHMOND, VA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.26M
CAP Approach CAP
$2.81M
Comparable Approach Comparable
$2.95M
Blend (final) Blend
$2.31M

Owner & transaction history

since 2021
Last sale
$2.3M
2 recorded transactions
2021
$2.3M
2006
$3.1M

Zoning & alternative use

O2 - CORP OFFICE DIST · Midlothian, VA
Top alternative use upside
Auto repair, garage $3.6M +22.5%
Office building $3.0M +2.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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