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    14401 Sommerville Ct Midlothian, VA 23113

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    14401 Sommerville Ct Midlothian, VA 23113

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    • Medical Office Space
    • 6,189 SF
    • 1.00 lot acres
    For Lease
    $23 SF/Yr
    View Listing →
    Midlothian Turnpike Office Space For Lease
    $23 SF/Yr
    2,932 SF

    Midlothian Turnpike Office Space

    Office space available in prominent Midlothian building.

    14401 Sommerville Ct, Midlothian, VA
    View Listing
    Property ID
    US87-0948633
    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

    • Lewis T. Ladocsi, M.D., F.A.C.S. / Physician
    • Aboutanos Plastic Surgery: Sharline Z. Aboutanos MD / Physician / Medical Clinic
    • Dr. Darrin Hubert / Physician / Medical Clinic
    • Celebration Title Group / Title Company
    • Palmetto Infusion - Midlothian / Medical Clinic

    Property Details for 14401 Sommerville Ct

    Year built
    2014
    Lot size
    1.00 lot acres
    Property size
    6,189 SF
    Zone code
    I1 - LT INDUSTRIAL DIST
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    722-70-92-67-100-000
    APU
    722709267100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6749
    Latitude
    37.5084
    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
    $21,748
    $200,000
    $2,197,000
    $2,397,000
    -
    $200,000
    $2,197,000
    $2,397,000

    Comparable in this City

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    • Value Estimation
      $910,000
      3,016 SF

      2301 Robious Sta Cir

      MEDICAL BUILDING • 3,016 SF
      2301 Robious Sta Cir, Midlothian, VA 23113-2124
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    • Value Estimation by Request
      24,265 SF

      11601 Robious Rd

      MEDICAL BUILDING • 24,265 SF
      11601 Robious Rd, Midlothian, VA 23113-5605
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      1,758 SF

      1346 Alverser Plz

      MEDICAL BUILDING • 1,758 SF
      1346 Alverser Plz, Midlothian, VA 23113-2604
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      9,121 SF

      1801 Huguenot Rd

      MEDICAL BUILDING • 9,121 SF
      1801 Huguenot Rd, Midlothian, VA 23113-2334
      View Details
    • Value Estimation by Request
      4,020 SF

      14351 Sommerville Ct

      MEDICAL BUILDING • 4,020 SF
      14351 Sommerville Ct, Midlothian, VA 23113-6837
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Medical Office Building in Midlothian

      3,978 SF medical office building for sale in Midlothian.
      14404 Sommerville Ct, Midlothian, VA 23113
      View Details
    • $1,100,000
      3,978 SF

      Midlothian Medical/Office Property For Sale

      Located in the heart of Midlothian near medical facilities.
      14404 Sommerville Ct, Midlothian, VA 23113
      View Details
    • Contact for pricing
      8,813 SF

      Office Space in Desirable Neighborhood

      Office space for rent in a high-traffic Midlothian location.
      11307 Polo Pl, Midlothian, VA 23113
      View Details
    • Contact for pricing
      11,830 SF

      Move-in Ready Office Space Available

      Lease ready office space with monument signage and ample parking.
      1700 Huguenot Rd, Midlothian, VA 23113
      View Details
    • $383,000
      1,224 SF

      Office Building in Chesterfield County

      Office building for sale in Midlothian, Chesterfield County.
      1216 Crowder Dr, Midlothian, VA 23113
      View Details
    • Contact for pricing
      11,700 SF

      Office Space in Sommerville Park

      Build-to-suit office, medical, or flex space in Midlothian, VA.
      14320 Sommerville Ct, Midlothian, VA 23113
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space Available

      4,313 SF medical office space with high-end finishes.
      11601 Robious Rd, Midlothian, VA 23113
      View Details
    • Contact for pricing
      2,932 SF

      Midlothian Turnpike Office Space

      Office space available in prominent Midlothian building.
      14401 Sommerville Ct, Midlothian, VA 23113
      View Details
    • Contact for pricing

      Remodeled Office Space For Lease

      Newly remodeled office space in affluent neighborhood, ideal for medical.
      239 Wylderose Ct, Midlothian, VA 23113
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    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Midlothian, Virginia.
      13354 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • Contact for pricing
      1,800 SF

      Office Space For Rent

      Elevator-served office building with ample parking and onsite ownership.
      1507 Huguenot Rd, Midlothian, VA 23113
      View Details
    • Contact for pricing

      Office Space on High-Traffic Corner

      2,600 SF office space in growing Powhatan submarket.
      17650 Midlothian Tpke, Powhatan, VA 23113
      View Details
    View Listing
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    Midlothian, VA 23113
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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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