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    11500 Busy St Richmond, VA 23236
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    Property profile & analytics

    11500 Busy St Richmond, VA 23236

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    • Retail space
    • 21,562 SF
    • 1.24 lot acres
    For Lease
    $3,710,000
    View Listing →
    Retail Space Near Chesterfield Mall For Lease
    $3,710,000

    Retail Space Near Chesterfield Mall

    Retail spaces in a strip center near Chesterfield Towne Center.

    11500 - 11556 Busy Street, Richmond, VA 23236
    View Listing
    Property ID
    US87-3793281
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Plaza Azteca / Restaurant
    • EDC / Construction Company / General Contractor

    Property Details for 11500 Busy St

    Year built
    2008
    Lot size
    1.24 lot acres
    Property size
    21,562 SF
    Zone code
    C3 - COMMUNITY BUS DIST
    Property type
    Retail space
    APN
    741-70-73-39-300-000
    APU
    741707339300000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,920,000
      6.5%
      $3,620,000
      7%
      $3,360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,770,000
      Market price range: $1.80M - $5.01M
      AI Estimate
      $2,740,000
      Market price range: $711k - $2.94M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,105,000
      Current use
      RESTAURANT
      $6,070,000
      Change: +95% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,255,000
      Change: +69% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,925,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $3,590,000
      Change: +16% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,540,000
      Change: +14% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $3,465,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6092
    Latitude
    37.503
    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
    $43,815
    $634,000
    $4,087,700
    $4,721,700
    -
    $634,000
    $4,087,700
    $4,721,700

    Comparable in this City

    • Value Estimation
      $4,395,000
      25,286 SF

      11501 Busy St

      RETAIL STORES (PERSONAL SERVICES) • 25,286 SF
      11501 Busy St, North Chesterfield, VA 23236-4073
      View Details
    • Value Estimation
      $1,620,000
      14,953 SF

      9501 Amberdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 14,953 SF
      9501 Amberdale Dr, North Chesterfield, VA 23236-1256
      View Details
    • Value Estimation
      $880,000
      8,000 SF

      9451 Amberdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      9451 Amberdale Dr, North Chesterfield, VA 23236-1249
      View Details
    • Value Estimation
      $520,000
      4,966 SF

      316 Arch Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,966 SF
      316 Arch Rd, North Chesterfield, VA 23236-3500
      View Details
    • Value Estimation by Request
      2,812 SF

      10030 Hull St Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,812 SF
      10030 Hull St Rd, North Chesterfield, VA 23236-1409
      View Details
    • Value Estimation
      $4,690,000
      58,142 SF

      801 Research Rd

      RETAIL STORES (PERSONAL SERVICES) • 58,142 SF
      801 Research Rd, Richmond, VA 23236
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Corner Lot Opportunity

      Ideal for quick-service restaurant with double drive-thru.
      10000 Hull Street Rd, Richmond, VA 23236
      View Details
    • Contact for pricing

      Hull Street Road Land Parcel

      11-acre land parcel with frontage on Hull Street.
      8701 Hull Street Rd, North Chesterfield, VA 23236
      View Details
    • Contact for pricing

      Corner Commercial Land For Sale

      1.16+ acre commercial site at high-traffic intersection.
      15 N Courthouse Rd, Richmond, VA 23236
      View Details
    • Contact for pricing

      Richmond Commercial Land For Sale

      Commercial land with utilities and stormwater access in Richmond, VA.
      9278 N Tuxford Rd, Richmond, VA 23236
      View Details
    • Contact for pricing

      Land Available on Hull Street

      2 to 8 acres available at signalized intersection.
      3701 Gregory Pond Rd, North Chesterfield, VA 23236
      View Details
    • $79,000
      1.07 Acres

      Residential Lot in Chesterfield

      Residential lot perfect for building a single-family home.
      2210 S Providence Rd, Richmond, VA 23236
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,222 SF

      Retail Space on Midlothian Turnpike

      Retail space with high visibility on Midlothian Turnpike.
      906 Branchway Rd, Richmond, VA 23236
      View Details
    • Contact for pricing
      17,694 SF

      Retail Space Available For Lease

      Retail space available for lease in North Chesterfield, VA.
      601 Southlake Blvd, North Chesterfield, VA 23236
      View Details
    • Contact for pricing

      Retail Space Near Chesterfield Center

      1,680 SF retail space near major retail corridor.
      11505 Busy St, Richmond, VA 23236
      View Details
    • Contact for pricing
      11,010 SF

      Retail Space Available For Rent

      Retail spaces available in Richmond, Virginia, near Powhite Parkway.
      1100 Courthouse Rd, Richmond, VA 23236
      View Details
    • Contact for pricing
      1,350 SF

      Anchored Shopping Center Space Available

      Retail space available in a busy, anchored shopping center.
      9901-10011 Hull Street Rd, North Chesterfield, VA 23236
      View Details
    • Contact for pricing
      8,450 SF

      Retail Space in Anchored Center

      Retail space available in a Food Lion anchored shopping center.
      1100 Courthouse Rd, North Chesterfield, VA 23236
      View Details
    View Listing
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    11500 Busy St
    Richmond, VA 23236
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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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