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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11601 Iron Bridge Rd Chester, VA 23831

    • Medical offices
    • 24,297 SF
    • 5.66 lot acres
    For Lease
    View listing
    Value Estimations
    $1,785,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0824719
    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.

    Current Use by Public Records

    • Bermant Plastic Cosmetic / Physician / Medical Clinic
    • Andrew L. Rose, MD / Pediatrician / Physician
    • NEXT Molecular Analytics / Corporate Office
    • Virginia Eye Institute - Ironbridge Medical Park / Eye Care Center / Ophthalmologist
    • Eric Floranda, MD / Physician / Medical Clinic

    Property Details for 11601 Iron Bridge Rd

    Year built
    1996
    Construction
    BRICK
    Lot size
    5.66 lot acres
    Property size
    24,297 SF
    Zone code
    C2 - NBHD BUSINESS DIST
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    775-65-40-06-800-000
    APU
    775654006800000

    Description

    This exceptional medical office building, located at 11601 Iron Bridge Rd in Chester, Virginia, 23831, offers 11,453 square feet of completely vacant space for lease. The property is currently available in multiple suites, with a minimum divisible space of 1,251 square feet and a maximum contiguous space of 4,393 square feet. This presents a unique opportunity for medical practices seeking flexible and adaptable space to meet their specific needs. The building's prime location in Chesterfield County provides excellent accessibility for patients and staff. Ample parking is available on-site, ensuring convenient access for everyone. The property is classified as a medical office building, making it ideally suited for a variety of healthcare providers. The address is easily accessible from major roadways, offering convenient commutes for both employees and clients. This is a fully vacant building, providing a blank canvas for a new tenant to customize the space to their exact specifications. Interested parties should inquire about lease terms and conditions. The property is situated in Chesterfield County, Virginia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,110,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,457,000
      Market price range: $717k - $2.46M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,380,000
      Current use
      COMMERCIAL (GENERAL)
      $2,790,000
      Change: +102% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,360,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $2,135,000
      Change: +55% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,120,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.495
    Latitude
    37.3559
    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
    $74,822
    $1,486,200
    $6,718,500
    $8,204,700
    -
    $1,486,200
    $6,718,500
    $8,204,700

    Comparable in this City

    • Value Estimation by Request
      3,644 SF

      2480 Osborne Rd

      MEDICAL BUILDING • 3,644 SF
      2480 Osborne Rd, Chester, VA 23831-2264
      View Details
    • Value Estimation by Request
      4,352 SF

      12900 Rte 1st 1

      MEDICAL BUILDING • 4,352 SF
      12900 Rte 1st 1, Chester, VA 23831-5311
      View Details
    • Value Estimation by Request
      960 SF

      4700 Buckingham Ct

      MEDICAL BUILDING • 960 SF
      4700 Buckingham Ct, Chester, VA 23831-4261
      View Details
    • Value Estimation by Request
      416 SF

      11971 Iron Brg Rd

      MEDICAL BUILDING • 416 SF
      11971 Iron Brg Rd, Chester, VA 23831-1458
      View Details
    • Value Estimation
      $560,000
      288 SF

      4701 Buckingham Ct

      MEDICAL BUILDING • 288 SF
      4701 Buckingham Ct, Chester, VA 23831-4261
      View Details
    • Value Estimation by Request
      5,041 SF

      6600 Courtyard Rd

      MEDICAL BUILDING • 5,041 SF
      6600 Courtyard Rd, Chester, VA 23831-1420
      View Details

    Similar Nearby for Sale

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      0.51 Acres

      Jefferson Davis Hwy Retail Pad

      High-traffic Chester, VA retail site.
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    • $750,000
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      Chester Commercial Property - Prime Location

      Historic Chester building, 2.25 acres, $750,000.
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    • $399,000

      Usable Acreage Near Iron Bridge

      Land suitable for daycare, school, church, or office development.
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    • New
      $80,000
      0.35 Acres

      Land For Sale, Chester, VA

      Land available in Chester, Virginia.
      12332 E Booker Blvd, Chester, VA 23831
      View Details
    • $495,000
      26,861 SF

      Chester Village Outparcel Retail Space

      Prime Retail Outparcel in Chester, VA
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      Prime Commercial Land Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      7,400 SF

      Office/Medical Space on Iron Bridge

      Office and medical spaces available for lease on Iron Bridge.
      12240 Iron Bridge Rd, Chester, VA 23831
      View Details
    • $1,875 /Mo
      1,500 SF

      Chesterfield County Office/Warehouse Space

      1,500 SF office/warehouse space available for rent in Chesterfield County.
      4110 W Hundred Rd, Chester, VA 23831
      View Details
    • Contact for pricing
      1,251 SF

      Office Space in Chester, VA

      Office space available for rent in Chester, Virginia.
      11601 Iron Bridge Rd, Chester, VA 23831
      View Details
    • $20 SF/Yr
      6,318 SF

      Second Floor Office Space Available

      6,318 SF office space with elevator access.
      3700 Festival Park Plz, Chester, VA 23831
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Iron Bridge

      Retail space available at a signalized intersection on Iron Bridge.
      10322 Iron Bridge Rd, Chester, VA 23831
      View Details
    • Contact for pricing
      2,658 SF

      Retail Space Available for Lease

      2,658 SF retail space with high visibility and signage.
      12540 Jefferson Davis Hwy, Chester, VA 23831
      View Details
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    Chester, VA 23831
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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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