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

    12855 Broad St Rd Richmond, VA 23233-7402

    • Industrial properties
    • 1,860 SF
    • 5.29 lot acres
    OFF-MARKET
    Value Estimations
    $375,000
    Show details
    Cap Rate Potential
    7.7%
    Industrial properties
    Location Intelligence
    Property ID
    US87-0177926
    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

    • Industrial properties

    Property Details for 12855 Broad St Rd

    Year built
    1979
    Lot size
    5.29 lot acres
    Property size
    1,860 SF
    Zone code
    B1-BUS/GEN
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    58 12 A
    APU
    5812A

    Description

    This exceptional 5.96-acre commercial land parcel presents a remarkable development opportunity in Richmond, Virginia's desirable Goochland County. Strategically located less than three miles from the bustling Short Pump Town Center, this property boasts approximately 400 feet of frontage on Broad Street Road, ensuring high visibility and accessibility. The site is ideally configured for development, featuring two outparcels on Broad Street Road, perfectly suited for retail or other commercial uses, and a larger rear parcel suitable for an office building or hotel. The B-1 zoning permits a wide range of retail and office uses, maximizing development flexibility. Infrastructure is readily available, with water and sewer services already in place, and the property is conveniently situated within the Tuckahoe Creek Service District. This location benefits from significant residential growth, with 225 new homes planned within one mile and over 500 new homes within a 2.5-mile radius, creating a robust and expanding customer base. Existing nearby retail establishments include McDonald's, Taco Bell, Truist Bank, Wells Fargo, Food Lion, and Advanced Auto Parts, further solidifying the area's commercial viability. This is a rare opportunity to acquire a well-positioned, ready-to-develop commercial land parcel in a thriving and rapidly growing area. Don't miss this chance to capitalize on the potential of this prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $491,000
      Market price range: $179k - $492k
      AI Estimate
      $249,000
      Market price range: $44.3k - $249k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $295,000
      Current use
      AUTO REPAIR, GARAGE
      $340,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $310,000
      Change: +6% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $305,000
      Change: +4% Conversion: Difficult
      OFFICE BUILDING
      $275,000
      Change: -6% Conversion: Easy
      RETAIL STORES
      $270,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Goochland
    State
    Virginia
    Longitude
    -77.6721
    Latitude
    37.6668
    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
    2021
    $8,080
    $3,055,700
    $0.00
    $3,055,700
    -
    $3,055,700
    $0.00
    $3,055,700

    Comparable in this City

    • Value Estimation
      $260,000
      0.74 Acres

      3 Chopt Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.74 Acres
      3 Chopt Rd, Richmond, VA 23233-7308
      View Details
    • Value Estimation
      $300,000
      1.04 Acres

      3 Chopt Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.04 Acres
      3 Chopt Rd, Richmond, VA 23233-7308
      View Details
    • Value Estimation
      $85,000
      3.83 Acres

      12639 Broad St Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3.83 Acres
      12639 Broad St Rd, Richmond, VA 23233-7303
      View Details
    • Value Estimation
      $245,000
      1.00 Acre

      12909 Plz Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.00 Acre
      12909 Plz Dr, Richmond, VA 23233-7420
      View Details
    • Value Estimation
      $390,000
      1.82 Acres

      4 Rings Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.82 Acres
      4 Rings Dr, Henrico, VA 23233
      View Details
    • Value Estimation
      $275,000
      29.00 Acres

      Henrico, VA 23233

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 29.00 Acres
      Henrico, VA 23233
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Prime Henrico Commercial Land

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    • Contact for pricing
      91,752 SF

      Class A Office Building

      91,752± SF Class A office building for sale or lease.
      100 Westgate Pkwy, Richmond, VA 23233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,576 SF

      Class A Office/Service Space

      Class A office/service space with car and truck entrances.
      3801-3827 Gaskins Rd, Richmond, VA 23233
      View Details
    • Contact for pricing
      6,715 SF

      Office/Warehouse Space on Broad Street

      Office/warehouse space available with high traffic and convenient location.
      3955-3999 Deep Rock Rd, Richmond, VA 23233
      View Details
    • $34 SF/Yr
      1,225 SF

      Retail Space Near Short Pump

      Retail space adjacent to Short Pump Town Center.
      11823-11825 W Broad St, Richmond, VA 23233
      View Details
    • Contact for pricing
      210,374 SF

      Short Pump Crossing Retail Space

      Henrico, VA: Prime Retail Opportunity
      3400-3544 Pump Rd, Henrico, VA 23233
      View Details
    • Contact for pricing
      17,000 SF

      Richmond Office Space for Lease

      Henrico County Office Suites Available
      3850 Gaskins Rd, Richmond, VA 23233
      View Details
    • $19 SF/Yr
      22,580 SF

      Tower Plaza Retail Center Investment

      Richmond Strip Mall - High Traffic Area
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    12855 Broad St Rd
    Richmond, VA 23233-7402
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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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